FY2024 Earnings Forecast for IIPR Issued By Roth Capital

Innovative Industrial Properties, Inc. (NYSE:IIPR) – Roth Capital issued their FY2024 EPS estimates for Innovative Industrial Properties in a report issued on Monday, November 11th. Roth Capital analyst W. Kirk expects that the company will post earnings of $8.36 per share for the year. Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for Innovative Industrial Properties’ current full-year earnings is $8.45 per share. Roth Capital also issued estimates for Innovative Industrial Properties’ Q4 2024 earnings at $2.07 EPS, Q1 2025 earnings at $2.10 EPS, Q2 2025 earnings at $2.15 EPS, Q3 2025 earnings at $2.16 EPS, Q4 2025 earnings at $2.16 EPS and FY2025 earnings at $8.57 EPS.

Several other analysts have also recently weighed in on the company. Compass Point raised Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Friday, November 8th. 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 research note on Monday, July 22nd. Wolfe Research raised Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd. Finally, Piper Sandler reduced their target price on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Innovative Industrial Properties has a consensus rating of “Moderate Buy” and an average price target of $127.67.

Innovative Industrial Properties Trading Down 3.5 %

Shares of IIPR opened at $103.96 on Wednesday. Innovative Industrial Properties has a 1-year low of $73.04 and a 1-year high of $138.35. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $129.04 and its 200-day moving average price is $118.74. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 18.50 and a beta of 1.37.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The business had revenue of $76.53 million during the quarter, compared to analysts’ expectations of $77.30 million. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 EPS.

Institutional Trading of Innovative Industrial Properties

Institutional investors and hedge funds have recently bought and sold shares of the company. USA Financial Formulas purchased a new stake in shares of Innovative Industrial Properties during the third quarter valued at approximately $25,000. Blue Trust Inc. boosted its stake in Innovative Industrial Properties by 2,085.7% during the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock valued at $48,000 after purchasing an additional 438 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Innovative Industrial Properties by 42.3% in the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $55,000 after purchasing an additional 150 shares in the last quarter. Federated Hermes Inc. raised its position in Innovative Industrial Properties by 138.1% in the 2nd quarter. Federated Hermes Inc. now owns 538 shares of the company’s stock worth $59,000 after buying an additional 312 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Innovative Industrial Properties by 75.3% during the third quarter. US Bancorp DE now owns 440 shares of the company’s stock valued at $59,000 after purchasing an additional 189 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.90 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $7.60 annualized dividend and a dividend yield of 7.31%. Innovative Industrial Properties’s payout ratio is presently 135.23%.

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.