Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Free Report) Director David Stecher sold 2,500 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $80.75, for a total transaction of $201,875.00. Following the transaction, the director now owns 7,529 shares of the company’s stock, valued at approximately $607,966.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Innovative Industrial Properties Price Performance
Innovative Industrial Properties stock opened at $80.66 on Thursday. The firm has a market capitalization of $2.26 billion, a P/E ratio of 13.96 and a beta of 1.56. Innovative Industrial Properties, Inc. has a one year low of $63.36 and a one year high of $125.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 11.66 and a quick ratio of 11.66. The business has a fifty day moving average price of $78.01 and a 200-day moving average price of $75.80.
Innovative Industrial Properties Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 8.93%. The ex-dividend date was Thursday, September 28th. Innovative Industrial Properties’s payout ratio is presently 124.57%.
Institutional Investors Weigh In On Innovative Industrial Properties
Analyst Ratings Changes
A number of equities research analysts recently commented on IIPR shares. StockNews.com initiated coverage on shares of Innovative Industrial Properties in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Piper Sandler boosted their target price on Innovative Industrial Properties from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Finally, Compass Point downgraded Innovative Industrial Properties from a “buy” rating to a “neutral” rating and set a $95.00 price target for the company. in a research note on Tuesday, September 5th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.75.
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.
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