Wolfe Research Issues Negative Estimate for IIPR Earnings

Innovative Industrial Properties, Inc. (NYSE:IIPR) – Equities researchers at Wolfe Research lowered their Q1 2027 EPS estimates for Innovative Industrial Properties in a report issued on Friday, October 16th. Wolfe Research analyst A. Rosivach now anticipates that the company will post earnings per share of $1.65 for the quarter, down from their prior estimate of $1.71. The consensus estimate for Innovative Industrial Properties’ current full-year earnings is $7.02 per share. Wolfe Research also issued estimates for Innovative Industrial Properties’ Q1 2028 earnings at $1.96 EPS, Q2 2028 earnings at $1.94 EPS and Q3 2028 earnings at $1.99 EPS.

Several other equities analysts also recently weighed in on IIPR. Stifel Nicolaus initiated coverage on Innovative Industrial Properties in a research report on Wednesday, October 14th. They set a “buy” rating and a $56.25 target price on the stock. Piper Sandler lowered their price target on Innovative Industrial Properties from $51.00 to $44.00 and set an “underweight” rating for the company in a report on Monday, October 12th. Weiss Ratings downgraded shares of Innovative Industrial Properties from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, Huntington initiated coverage on shares of Innovative Industrial Properties in a research note on Friday, October 2nd. They set an “outperform” rating and a $60.00 price objective for the company. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.31.

Innovative Industrial Properties Trading Up 2.2%

Shares of Innovative Industrial Properties stock opened at $52.73 on Wednesday. Innovative Industrial Properties has a fifty-two week low of $44.58 and a fifty-two week high of $65.38. The firm has a market cap of $1.45 billion, a PE ratio of 11.96 and a beta of 1.37. The business’s fifty day moving average is $54.92 and its two-hundred day moving average is $56.96. The company has a quick ratio of 24.51, a current ratio of 24.51 and a debt-to-equity ratio of 0.35.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Monday, August 3rd. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.02 by $0.34. The firm had revenue of $63.31 million during the quarter, compared to analysts’ expectations of $67.09 million. Innovative Industrial Properties had a net margin of 52.27% and a return on equity of 7.73%.

Innovative Industrial Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 14.4%. The ex-dividend date of this dividend was Wednesday, September 30th. Innovative Industrial Properties’s dividend payout ratio (DPR) is 172.34%.

Insider Activity at Innovative Industrial Properties

In other news, Chairman Alan Gold bought 40,000 shares of Innovative Industrial Properties stock in a transaction that occurred on Thursday, October 8th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the acquisition, the chairman owned 40,000 shares of the company’s stock, valued at $1,000,000. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Shoemaker sold 611 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $56.36, for a total value of $34,435.96. Following the sale, the director directly owned 2,000 shares of the company’s stock, valued at approximately $112,720. This trade represents a 23.40% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Innovative Industrial Properties

A number of large investors have recently modified their holdings of IIPR. Nykredit A S purchased a new stake in Innovative Industrial Properties during the second quarter worth approximately $25,000. Fortitude Family Office LLC acquired a new position in shares of Innovative Industrial Properties during the third quarter worth about $26,000. Caitlin John LLC acquired a new position in shares of Innovative Industrial Properties during the second quarter worth about $36,000. Triumph Capital Management grew its stake in shares of Innovative Industrial Properties by 112.9% in the second quarter. Triumph Capital Management now owns 905 shares of the company’s stock valued at $56,000 after buying an additional 480 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Innovative Industrial Properties by 26.3% in the third quarter. GAMMA Investing LLC now owns 1,833 shares of the company’s stock valued at $97,000 after buying an additional 382 shares in the last quarter. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc (NYSE:IIPR) is a real estate investment trust focused on the regulated cannabis industry in the United States. The company acquires, owns and manages specialized industrial properties, including cultivation, processing and manufacturing facilities used by state-licensed cannabis operators.

Innovative Industrial Properties generally leases its properties to cannabis companies under long-term, typically triple-net lease agreements. Under these arrangements, tenants are generally responsible for property-level operating expenses, while the company provides real estate capital and manages its portfolio as a landlord.

Founded in 2016, Innovative Industrial Properties has expanded through property acquisitions, sale-leaseback transactions and investments in the development or redevelopment of cannabis facilities.