Innovative Industrial Properties (IIPR) to Release Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR) will post its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Innovative Industrial Properties to post earnings of $2.10 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings data on Monday, February 26th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.62). Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. The business had revenue of $79.16 million during the quarter, compared to analyst estimates of $76.55 million.

Innovative Industrial Properties Stock Up 1.1 %

Shares of Innovative Industrial Properties stock opened at $109.48 on Monday. Innovative Industrial Properties has a twelve month low of $65.16 and a twelve month high of $111.71. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 18.97 and a beta of 1.48. The company has a current ratio of 14.22, a quick ratio of 14.22 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $99.17 and a 200 day moving average price of $92.03.

Innovative Industrial Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date was Wednesday, March 27th. Innovative Industrial Properties’s dividend payout ratio is presently 126.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IIPR shares. TheStreet upgraded Innovative Industrial Properties from a “c+” rating to a “b-” rating in a report on Wednesday, January 10th. Piper Sandler boosted their target price on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Innovative Industrial Properties has an average rating of “Hold” and an average target price of $92.67.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.