Innovative Industrial Properties (IIPR) to Release Quarterly Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR) is projected to issue its Q1 2025 quarterly earnings data after the market closes on Wednesday, May 7th. Analysts expect Innovative Industrial Properties to post earnings of $2.06 per share and revenue of $72.20 million for the quarter.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, meeting analysts’ consensus estimates of $2.22. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. The company had revenue of $76.74 million during the quarter, compared to analyst estimates of $76.21 million. On average, analysts expect Innovative Industrial Properties to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Innovative Industrial Properties Price Performance

NYSE:IIPR traded down $1.24 during trading hours on Tuesday, reaching $53.49. The stock had a trading volume of 108,941 shares, compared to its average volume of 269,585. The stock has a market capitalization of $1.50 billion, a PE ratio of 9.64 and a beta of 1.73. Innovative Industrial Properties has a 52 week low of $45.44 and a 52 week high of $138.35. The company has a 50 day moving average price of $59.34 and a two-hundred day moving average price of $79.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32.

Innovative Industrial Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 14.21%. The ex-dividend date was Monday, March 31st. Innovative Industrial Properties’s dividend payout ratio is presently 137.43%.

Insider Buying and Selling at Innovative Industrial Properties

In other news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the completion of the sale, the director now owns 1,346 shares of the company’s stock, valued at approximately $94,960.30. The trade was a 84.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler dropped their price objective on shares of Innovative Industrial Properties from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Tuesday, April 15th. Compass Point reiterated a “sell” rating and issued a $50.00 price target (down previously from $60.00) on shares of Innovative Industrial Properties in a research report on Monday, March 31st. Wolfe Research started coverage on Innovative Industrial Properties in a research report on Wednesday, April 23rd. They set an “outperform” rating and a $57.00 price objective on the stock. Roth Mkm dropped their target price on Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Industrial Alliance Securities reiterated a “neutral” rating on shares of Innovative Industrial Properties in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.67.

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.