Innovative Industrial Properties Inc (IIPR) Plans Quarterly Dividend of $0.25

Innovative Industrial Properties Inc (NYSE:IIPR) declared a quarterly dividend on Thursday, March 15th, NASDAQ reports. Shareholders of record on Thursday, March 29th will be given a dividend of 0.25 per share on Monday, April 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, March 28th.

Innovative Industrial Properties (IIPR) opened at $26.36 on Friday. Innovative Industrial Properties has a 12-month low of $15.72 and a 12-month high of $36.88. The firm has a market capitalization of $165.54, a P/E ratio of 650.50 and a beta of -0.63.

Several equities research analysts have recently commented on the company. Zacks Investment Research raised Innovative Industrial Properties from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Ladenburg Thalmann Financial Services reissued a “buy” rating and issued a $34.00 price objective (up previously from $23.00) on shares of Innovative Industrial Properties in a report on Wednesday, January 24th.

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Innovative Industrial Properties Company Profile

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.

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