Innovative Industrial Properties (IIPR) Scheduled to Post Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR) is set to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect Innovative Industrial Properties to post earnings of $2.13 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Monday, August 5th. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.64). Innovative Industrial Properties had a return on equity of 8.50% and a net margin of 52.73%. The company had revenue of $79.79 million for the quarter, compared to the consensus estimate of $77.18 million. During the same period in the previous year, the company earned $2.26 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. 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 Trading Down 1.7 %

Shares of IIPR stock opened at $127.00 on Monday. The business’s 50 day moving average is $130.11 and its two-hundred day moving average is $117.61. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.15. Innovative Industrial Properties has a 12 month low of $73.04 and a 12 month high of $138.35. The company has a market cap of $3.60 billion, a PE ratio of 22.28 and a beta of 1.37.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.90 dividend. The ex-dividend date was Monday, September 30th. This represents a $7.60 annualized dividend and a yield of 5.98%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 133.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IIPR shares. Wolfe Research upgraded shares of Innovative Industrial Properties to a “hold” rating in a report on Monday, September 23rd. Piper Sandler raised their target price on Innovative Industrial Properties from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Roth Mkm upped their price target on Innovative Industrial Properties from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

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.