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, May 8th. Analysts expect Innovative Industrial Properties to post earnings of $2.10 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Monday, February 26th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.62). The company had revenue of $79.16 million during the quarter, compared to analyst estimates of $76.55 million. Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%.

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock opened at $103.55 on Wednesday. The stock’s 50 day moving average is $98.14 and its 200 day moving average is $91.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. The firm has a market cap of $2.92 billion, a P/E ratio of 17.95 and a beta of 1.49. Innovative Industrial Properties has a one year low of $65.16 and a one year high of $105.81.

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 7.03%. The ex-dividend date was Wednesday, March 27th. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 126.17%.

Wall Street Analysts Forecast Growth

IIPR has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Innovative Industrial Properties from $85.00 to $103.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. TheStreet raised Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research note on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.67.

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.