Innovative Industrial Properties (IIPR) Set to Announce Quarterly Earnings on Wednesday

Innovative Industrial Properties (NYSE:IIPR) will issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $2.13 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Innovative Industrial Properties (NYSE:IIPR) last issued its earnings results on Monday, August 5th. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.64). The firm had revenue of $79.79 million during the quarter, compared to analysts’ expectations of $77.18 million. Innovative Industrial Properties had a return on equity of 8.50% and a net margin of 52.73%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $2.26 EPS. On average, analysts expect Innovative Industrial Properties to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Innovative Industrial Properties Stock Up 2.9 %

IIPR stock opened at $130.63 on Tuesday. The firm has a 50-day simple moving average of $130.20 and a 200-day simple moving average of $118.04. Innovative Industrial Properties has a 52 week low of $73.04 and a 52 week high of $138.35. The stock has a market capitalization of $3.70 billion, a P/E ratio of 22.92 and a beta of 1.37. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.15.

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend was Monday, September 30th. Innovative Industrial Properties’s dividend payout ratio is presently 133.33%.

Analyst Upgrades and Downgrades

IIPR has been the subject of several recent research reports. Piper Sandler lifted their price objective on Innovative Industrial Properties from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Wolfe Research upgraded shares of Innovative Industrial Properties to a “hold” rating in a research note on Monday, September 23rd. Finally, Roth Mkm lifted their price objective on Innovative Industrial Properties from $115.00 to $140.00 and gave the company a “buy” rating in a report on Monday, July 22nd.

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.