Innovative Industrial Properties Inc (IIPR) Given $34.00 Consensus Target Price by Analysts

Shares of Innovative Industrial Properties Inc (NYSE:IIPR) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokers have set a one year consensus target price of $34.00 for the company, according to Zacks. Zacks has also given Innovative Industrial Properties an industry rank of 232 out of 265 based on the ratings given to related companies.

IIPR has been the topic of several research analyst reports. Zacks Investment Research cut Innovative Industrial Properties from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 24th. Ladenburg Thalmann Financial Services set a $23.00 price objective on Innovative Industrial Properties and gave the stock a “buy” rating in a research report on Wednesday, November 29th.

Shares of Innovative Industrial Properties (NYSE:IIPR) traded down $0.40 during trading hours on Friday, hitting $25.35. The company had a trading volume of 105,754 shares, compared to its average volume of 307,534. The stock has a market capitalization of $164.90, a PE ratio of -8.50 and a beta of -4.52. Innovative Industrial Properties has a one year low of $15.45 and a one year high of $36.88.

A number of hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new position in Innovative Industrial Properties in the fourth quarter worth $174,000. Renaissance Technologies LLC boosted its position in Innovative Industrial Properties by 48.9% in the fourth quarter. Renaissance Technologies LLC now owns 19,500 shares of the company’s stock worth $630,000 after purchasing an additional 6,400 shares during the last quarter. Virtu Financial LLC purchased a new position in Innovative Industrial Properties in the fourth quarter worth $255,000. Acadian Asset Management LLC purchased a new position in Innovative Industrial Properties in the fourth quarter worth $261,000. Finally, Symmetry Peak Management LLC bought a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at $565,000. 9.59% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Innovative Industrial Properties Inc (IIPR) Given $34.00 Consensus Target Price by Analysts” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://www.dispatchtribunal.com/2018/02/21/innovative-industrial-properties-inc-iipr-given-34-00-consensus-target-price-by-analysts.html.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.

Get a free copy of the Zacks research report on Innovative Industrial Properties (IIPR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Innovative Industrial Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innovative Industrial Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply