Innovative Industrial Properties (NYSE:IIPR) Price Target Cut to $130.00 by Analysts at Roth Mkm

Innovative Industrial Properties (NYSE:IIPR) had its target price lowered by research analysts at Roth Mkm from $140.00 to $130.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 79.41% from the stock’s current price.

IIPR has been the topic of a number of other reports. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Alliance Global Partners cut Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Piper Sandler cut shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $118.00 to $70.00 in a research note on Friday, December 20th. Finally, JMP Securities restated a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.00.

Innovative Industrial Properties Stock Down 0.6 %

Shares of NYSE:IIPR traded down $0.41 during midday trading on Friday, reaching $72.46. The company had a trading volume of 70,701 shares, compared to its average volume of 273,129. The stock’s fifty day moving average price is $72.81 and its 200-day moving average price is $104.66. The stock has a market capitalization of $2.05 billion, a P/E ratio of 13.14 and a beta of 1.40. Innovative Industrial Properties has a one year low of $62.45 and a one year high of $138.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. Innovative Industrial Properties had a return on equity of 8.37% and a net margin of 52.40%. The business had revenue of $76.74 million for the quarter, compared to analyst estimates of $76.21 million. Equities research analysts expect that Innovative Industrial Properties will post 8.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innovative Industrial Properties

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in shares of Innovative Industrial Properties by 17.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 237,206 shares of the company’s stock valued at $31,928,000 after purchasing an additional 35,269 shares during the last quarter. Barclays PLC boosted its position in Innovative Industrial Properties by 187.5% during the third quarter. Barclays PLC now owns 47,988 shares of the company’s stock worth $6,459,000 after acquiring an additional 31,295 shares during the last quarter. Geode Capital Management LLC grew its holdings in Innovative Industrial Properties by 31.9% in the 3rd quarter. Geode Capital Management LLC now owns 52,872 shares of the company’s stock valued at $7,133,000 after buying an additional 12,791 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Innovative Industrial Properties during the 3rd quarter worth about $713,000. Finally, Versor Investments LP boosted its position in shares of Innovative Industrial Properties by 98.3% in the third quarter. Versor Investments LP now owns 12,227 shares of the company’s stock worth $1,646,000 after acquiring an additional 6,062 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Innovative Industrial Properties Company Profile

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.