Innovative Industrial Properties (NYSE:IIPR) has been assigned a $23.00 target price by analysts at Ladenburg Thalmann Financial Services in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the stock. Ladenburg Thalmann Financial Services’ target price suggests a potential upside of 26.72% from the stock’s previous close.

Separately, Zacks Investment Research cut shares of Innovative Industrial Properties from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 24th.

Shares of Innovative Industrial Properties (NYSE:IIPR) opened at $18.15 on Wednesday. The firm has a market capitalization of $63.55 and a price-to-earnings ratio of 470.63. Innovative Industrial Properties has a twelve month low of $14.50 and a twelve month high of $20.52.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $1.56 million during the quarter. Innovative Industrial Properties had a negative net margin of 108.39% and a negative return on equity of 8.09%. equities research analysts predict that Innovative Industrial Properties will post -0.02 earnings per share for the current year.

An institutional investor recently raised its position in Innovative Industrial Properties stock. Vanguard Group Inc. grew its stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 21.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,013 shares of the company’s stock after acquiring an additional 27,258 shares during the quarter. Vanguard Group Inc. owned about 4.34% of Innovative Industrial Properties worth $2,563,000 at the end of the most recent quarter. Institutional investors and hedge funds own 8.60% of the company’s stock.

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Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.

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