Must-See Earnings Estimates for: Innovative Industrial Properties (NYSE:IIPR)

Earnings results for Innovative Industrial Properties (NYSE:IIPR)

Innovative Industrial Properties, Inc. is expected* to report earnings on 02/24/2021 after market close. The report will be for the fiscal Quarter ending Dec 2020. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.47. The reported EPS for the same quarter last year was $1.18.

Analyst Opinion on Innovative Industrial Properties (NYSE:IIPR)

7 Wall Street analysts have issued ratings and price targets for Innovative Industrial Properties in the last 12 months. Their average twelve-month price target is $192.43, predicting that the stock has a possible downside of 10.32%. The high price target for IIPR is $250.00 and the low price target for IIPR is $104.00. There are currently 2 hold ratings and 5 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Innovative Industrial Properties has received a consensus rating of Buy. The company’s average rating score is 2.71, and is based on 5 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $192.43, Innovative Industrial Properties has a forecasted downside of 10.3% from its current price of $214.57. Innovative Industrial Properties has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Innovative Industrial Properties (NYSE:IIPR)

Innovative Industrial Properties pays a meaningful dividend of 2.31%, higher than the bottom 25% of all stocks that pay dividends. Innovative Industrial Properties has only been increasing its dividend for 3 years. The dividend payout ratio of Innovative Industrial Properties is 151.68%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Innovative Industrial Properties will have a dividend payout ratio of 62.39% next year. This indicates that Innovative Industrial Properties will be able to sustain or increase its dividend.

Insiders buying/selling: Innovative Industrial Properties (NYSE:IIPR)

In the past three months, Innovative Industrial Properties insiders have not sold or bought any company stock. Only 2.90% of the stock of Innovative Industrial Properties is held by insiders. 74.85% of the stock of Innovative Industrial Properties is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Innovative Industrial Properties (NYSE:IIPR

Earnings for Innovative Industrial Properties are expected to grow by 61.26% in the coming year, from $4.93 to $7.95 per share. The P/E ratio of Innovative Industrial Properties is 69.44, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 33.32. The P/E ratio of Innovative Industrial Properties is 69.44, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 23.42. Innovative Industrial Properties has a P/B Ratio of 6.45. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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