Innovative Industrial Properties Inc (NYSE:IIPR) declared a quarterly dividend on Monday, June 18th, Wall Street Journal reports. Stockholders of record on Friday, June 29th will be given a dividend of 0.25 per share on Monday, July 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Thursday, June 28th.
Innovative Industrial Properties opened at $35.06 on Friday, according to MarketBeat Ratings. Innovative Industrial Properties has a 52-week low of $15.72 and a 52-week high of $39.75. The stock has a market cap of $235.13 million, a PE ratio of 52.33 and a beta of -0.88.
Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, May 9th. The company reported $0.09 earnings per share (EPS) for the quarter. Innovative Industrial Properties had a net margin of 14.26% and a return on equity of 1.42%. The firm had revenue of $2.76 million for the quarter. sell-side analysts forecast that Innovative Industrial Properties will post 1.37 EPS for the current year.
Several equities analysts have recently issued reports on IIPR shares. Zacks Investment Research upgraded shares of Innovative Industrial Properties from a “sell” rating to a “hold” rating in a report on Friday, March 16th. ValuEngine upgraded shares of Innovative Industrial Properties from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd.
In related news, VP Brian J. Wolfe sold 6,013 shares of the stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $37.34, for a total value of $224,525.42. Following the transaction, the vice president now owns 12,502 shares in the company, valued at approximately $466,824.68. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders purchased 400 shares of company stock worth $14,612. 6.20% of the stock is owned by corporate insiders.
Innovative Industrial Properties Company Profile
Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc intends to elect to be taxed as a real estate investment trust.
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