Alan D. Gold Purchases 300 Shares of Innovative Industrial Properties Inc (NYSE:IIPR) Stock
Innovative Industrial Properties Inc (NYSE:IIPR) Chairman Alan D. Gold purchased 300 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $84.23 per share, for a total transaction of $25,269.00. Following the completion of the transaction, the chairman now directly owns 318,089 shares in the company, valued at $26,792,636.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
NYSE IIPR traded down $4.95 during midday trading on Friday, hitting $83.30. The company had a trading volume of 914,383 shares, compared to its average volume of 434,078. The company has a quick ratio of 51.96, a current ratio of 51.96 and a debt-to-equity ratio of 0.53. The stock has a market cap of $997.59 million, a price-to-earnings ratio of 62.16 and a beta of 2.12. The firm has a fifty day simple moving average of $103.31 and a two-hundred day simple moving average of $95.22. Innovative Industrial Properties Inc has a fifty-two week low of $39.45 and a fifty-two week high of $139.53.
Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.18). Innovative Industrial Properties had a return on equity of 5.17% and a net margin of 47.83%. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.37 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 160.0% on a year-over-year basis. As a group, equities analysts predict that Innovative Industrial Properties Inc will post 2.58 earnings per share for the current year.
IIPR has been the topic of several research analyst reports. BTIG Research raised their price target on shares of Innovative Industrial Properties to $148.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. TheStreet lowered shares of Innovative Industrial Properties from a “b-” rating to a “c” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Innovative Industrial Properties from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research report on Friday, August 9th. Finally, ValuEngine lowered shares of Innovative Industrial Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $91.25.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use 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.
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