Innovative Industrial Properties Inc. [NYSE: IIPR] surged by $22.29 during the normal trading session on Thursday and reaching a high of $156.42 during the day while it closed the day at $155.87. The company report on November 5, 2020 that Innovative Industrial Properties Reports Third Quarter 2020 Results.
Investments Drive 197% Q3 Total Revenues, 205% Q3 Net Income and 192% Q3 AFFO Growth Year-over-Year.
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the medical-use U.S. cannabis industry, announced results for the quarter ended September 30, 2020.
Innovative Industrial Properties Inc. stock has also gained 29.97% of its value over the past 7 days. However, IIPR stock has inclined by 35.98% in the 3 months of the year. Over the past six months meanwhile, it has gained 106.42% and gained 105.44% year-on date.
The market cap for IIPR stock reached $3.48 billion, with 21.70 million shares outstanding and 21.23 million shares in the current float. Compared to the average trading volume of 407.11K shares, IIPR reached a trading volume of 1287535 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Innovative Industrial Properties Inc. [IIPR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IIPR shares is $141.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IIPR stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for Innovative Industrial Properties Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 08, 2020. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on July 28, 2020, representing the official price target for Innovative Industrial Properties Inc. stock. Previously, the target price had yet another raise to $69.50, while Ladenburg Thalmann analysts kept a Buy rating on IIPR stock.
The Average True Range (ATR) for Innovative Industrial Properties Inc. is set at 6.55, with the Price to Sales ratio for IIPR stock in the period of the last 12 months amounting to 46.55. The Price to Book ratio for the last quarter was 2.86, with the Price to Cash per share for the same quarter was set at 2.25.
IIPR stock trade performance evaluation
Innovative Industrial Properties Inc. [IIPR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.97. With this latest performance, IIPR shares gained by 19.94% in over the last four-week period, additionally plugging by 106.42% over the last 6 months – not to mention a rise of 114.70% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IIPR stock in for the last two-week period is set at 77.17, with the RSI for the last a single of trading hit 83.58, and the three-weeks RSI is set at 73.19 for Innovative Industrial Properties Inc. [IIPR]. The present Moving Average for the last 50 days of trading for this stock 125.78, while it was recorded at 130.31 for the last single week of trading, and 98.24 for the last 200 days.
Innovative Industrial Properties Inc. [IIPR]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Innovative Industrial Properties Inc. [IIPR] shares currently have an operating margin of +41.71 and a Gross Margin at +77.80. Innovative Industrial Properties Inc.’s Net Margin is presently recorded at +51.67.
Return on Total Capital for IIPR is now 3.93, given the latest momentum, and Return on Invested Capital for the company is 4.87. Return on Equity for this stock inclined to 5.68, with Return on Assets sitting at 4.49. When it comes to the capital structure of this company, Innovative Industrial Properties Inc. [IIPR] has a Total Debt to Total Equity ratio set at 24.79. Additionally, IIPR Total Debt to Total Capital is recorded at 19.87, with Total Debt to Total Assets ending up at 18.21. Long-Term Debt to Equity for the company is recorded at 25.22, with the Long-Term Debt to Total Capital now at 19.69.
Reflecting on the efficiency of the workforce at the company, Innovative Industrial Properties Inc. [IIPR] managed to generate an average of $1,775,308 per employee.
Earnings per share (EPS) analysis for Innovative Industrial Properties Inc. [IIPR] stock
With the latest financial reports released by the company, Innovative Industrial Properties Inc. posted 0.55/share EPS, while the average EPS was predicted by analysts to be reported at 0.47/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IIPR.
Innovative Industrial Properties Inc. [IIPR]: Insider Ownership positions
There are presently around $2,571 million, or 78.90% of IIPR stock, in the hands of institutional investors. The top three institutional holders of IIPR stocks are: BLACKROCK INC. with ownership of 2,987,386, which is approximately 8.529% of the company’s market cap and around 1.60% of the total institutional ownership; VANGUARD GROUP INC, holding 2,156,298 shares of the stock with an approximate value of $336.1 million in IIPR stocks shares; and ZIMMER PARTNERS, LP, currently with $140.28 million in IIPR stock with ownership of nearly 6.195% of the company’s market capitalization.
Positions in Innovative Industrial Properties Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 216 institutional holders increased their position in Innovative Industrial Properties Inc. [NYSE:IIPR] by around 3,936,809 shares. Additionally, 79 investors decreased positions by around 781,700 shares, while 33 investors held positions by with 11,776,259 shares. The mentioned changes placed institutional holdings at 16,494,768 shares, according to the latest SEC report filing. IIPR stock had 78 new institutional investments in for a total of 1,125,785 shares, while 25 institutional investors sold positions of 92,085 shares during the same period.