Innovative Industrial Properties (NYSE:IIPR) upgraded to “Hold” on StockNews.com

Innovative Industrial Properties (NYSE:IIPR – Get a rating) has been updated by StockNews.com from a “sell” rating to a “hold” rating in a research report released Saturday to clients and investors.

Several other research analysts also weighed in on the company. Piper Sandler lowered its price target on Innovative Industrial Properties from $290.00 to $285.00 in a Friday, January 14 research note. Zacks Investment Research downgraded Innovative Industrial Properties from a “hold” to a “sell” rating in a Tuesday, January 11 research note. One financial analyst has assigned the stock a sell rating, two have assigned a hold rating and four have assigned the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $266.43.

IIPR action opened at $182.48 on Friday. The company’s 50-day moving average price is $203.73 and its two-hundred-day moving average price is $234.03. The company has a current ratio of 52.60, a quick ratio of 52.60 and a debt ratio of 0.20. The company has a market capitalization of $4.68 billion, a PE ratio of 40.02 and a beta of 1.63. Innovative Industrial Properties have a 1-year low of $160.91 and a 1-year high of $288.02.

(A d)

The metaverse is destined to become the latest iteration of social interaction.

Similar to social media giants like Facebook and Instagram today.

Bloomberg Intelligence estimates that the size of the metaverse market could reach $800 billion by 2024.

Get the name and ticker of these 4 Metaverse stocks.

Innovative Industrial Properties (NYSE:IIPR – Get a rating) last reported results on Wednesday, February 23. The company reported earnings per share of $1.14 for the quarter, missing Thomson Reuters consensus estimate of $1.75 per ($0.61). The company posted revenue of $58.94 million for the quarter, versus a consensus estimate of $57.92 million. Innovative Industrial Properties posted a return on equity of 7.48% and a net margin of 55.73%. The company’s revenue increased 58.9% year over year. In the same quarter a year earlier, the company posted earnings per share of $1.29. On average, analysts expect Innovative Industrial Properties to post 8.61 earnings per share for the current year.

Several large investors have recently increased or reduced their holdings in IIPR. Amundi Pioneer Asset Management Inc. increased its position in Innovative Industrial Properties shares by 8,478.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 17,157 shares of the company valued at $1,401,000 after acquiring an additional 16,957 shares in the last quarter. Geode Capital Management LLC increased its holdings in Innovative Industrial Properties by 14.4% during the second quarter. Geode Capital Management LLC now owns 13,534 shares of the company worth $2,585,000 after purchasing an additional 1,699 shares during the period. Goldman Sachs Group Inc. increased its holdings in innovative industrial properties by 45.2% during the second quarter. Goldman Sachs Group Inc. now owns 72,852 shares of the company worth $13,916,000 after purchasing an additional 22,673 shares during the period. Credit Suisse AG increased its holdings in Innovative Industrial Properties by 8.0% during the second quarter. Credit Suisse AG now owns 42,497 shares of the company worth $8,244,000 after purchasing 3,148 additional shares during the period. Finally, Amundi bought a new position in Innovative Industrial Properties during the second quarter worth approximately $4,058,000. 71.55% of the shares are currently held by institutional investors and hedge funds.

Company Profile Innovative Industrial Properties (Get a rating)

Innovative Industrial Properties, Inc. is a real estate investment trust engaged in the acquisition, ownership and management of industrial properties. It operates through the following geographic segments: Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New York, North Dakota, Ohio and Pennsylvania.

Read more

Analyst Recommendations for Innovative Industrial Properties (NYSE:IIPR)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in innovative industrial properties right now?

Before you consider innovative industrial properties, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Innovative Industrial Properties didn’t make the list.

Although Innovative Industrial Properties currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here