Innovative Industrial Properties Inc. (NYSE:IIPR) shares traded -0.42% lower at $101.35 on Wall Street last session.
IIPR stock price is now -7.58% away from the 50-day moving average and -15.63% away from the 200-day moving average. The market capitalization of the company currently stands at $2.85B.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
With the price target enhanced from $100 to $175, Compass Point Upgraded its rating from Neutral to Buy for Innovative Industrial Properties Inc. (NYSE: IIPR). On August 08, 2022, Compass Point Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $100, while ‘Wolfe Research’ rates the stock as ‘Peer Perform’.
In other news, Gold Alan D, EXECUTIVE CHAIRMAN bought 1,000 shares of the company’s stock on Aug 12. The stock was bought for $97,792 at an average price of $97.79. Upon completion of the transaction, the EXECUTIVE CHAIRMAN now directly owns 213,308 shares in the company, valued at $21.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, EXECUTIVE CHAIRMAN Gold Alan D bought 1,000 shares of the business’s stock. A total of $94,220 was incurred on buying the stock at an average price of $94.22. This leaves the insider owning 212,308 shares of the company worth $21.52 million. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IIPR stock. A new stake in Innovative Industrial Properties Inc. shares was purchased by WESTFIELD CAPITAL MANAGEMENT CO LP during the first quarter worth $9,545,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $5,439,000 in shares of IIPR during the first quarter. In the first quarter, FEDERATED HERMES, INC. acquired a new stake in Innovative Industrial Properties Inc. valued at approximately $3,398,000. FULL18 CAPITAL LLC acquired a new stake in IIPR for approximately $2,544,000. BELL ROCK CAPITAL LLC purchased a new stake in IIPR valued at around $1,649,000 in the second quarter. In total, there are 471 active investors with 76.90% ownership of the company’s stock.
Innovative Industrial Properties Inc. (NYSE: IIPR) opened at $100.55 on Friday. During the past 12 months, Innovative Industrial Properties Inc. has had a low of $87.47 and a high of $265.98. The fifty day moving average price for IIPR is $109.82 and a two-hundred day moving average price translates $119.66 for the stock.
The latest earnings results from Innovative Industrial Properties Inc. (NYSE: IIPR) was released for Sep, 2022. According to the REIT – Industrial Company, earnings per share came in at $1.32, beating analysts’ expectations of $1.29 by 0.03. This compares to $1.20 EPS in the same period last year. The net profit margin was 52.60% and return on equity was 7.80% for IIPR. The company reported revenue of $70.88 million for the quarter, compared to $53.86 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 31.62 percent. For the current quarter, analysts expect IIPR to generate $69.95M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/15/2020. Investors who held shares on 09/30/2020 were paid a $1.17 dividend. On an annualized basis, this represents a $7.20 dividend and a 7.10% percent yield. There was an ex-dividend date of 09/29/2020 for this dividend. In terms of dividend payout ratio, IIPR is presently at 128.90%.
Innovative Industrial Properties Inc.(IIPR) 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 medical-use 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.
