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.

Institutional investors have recently modified their holdings of the company. Stonebridge Capital Advisors LLC acquired a new stake in shares of Innovative Industrial Properties during the 2nd quarter valued at about $36,000. Focused Wealth Management Inc boosted its position in shares of Innovative Industrial Properties by 230.0% during the 2nd quarter. Focused Wealth Management Inc now owns 330 shares of the company’s stock valued at $41,000 after acquiring an additional 230 shares in the last quarter. TRUE Private Wealth Advisors acquired a new stake in shares of Innovative Industrial Properties during the 2nd quarter valued at about $42,000. Executive Wealth Management LLC boosted its position in shares of Innovative Industrial Properties by 11,500.0% during the 2nd quarter. Executive Wealth Management LLC now owns 580 shares of the company’s stock valued at $72,000 after acquiring an additional 575 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its position in shares of Innovative Industrial Properties by 100.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 600 shares of the company’s stock valued at $74,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 53.71% of the company’s stock.

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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