|Bid||67.00 x 1200|
|Ask||70.00 x 800|
|Day's range||66.50 - 67.69|
|52-week range||63.36 - 137.33|
|Beta (5Y monthly)||1.62|
|PE ratio (TTM)||11.98|
|Earnings date||01 Aug 2023 - 07 Aug 2023|
|Forward dividend & yield||7.20 (10.67%)|
|Ex-dividend date||30 Mar 2023|
|1y target est||113.20|
For most people, building passive income is a marathon, not a sprint. The longer you're willing to spend on buying shares consistently, the less you'll need up front. In that vein, Innovative Industrial Properties (NYSE: IIPR), the marijuana cultivation facility landlord company, is an appealing option for dividend investors thanks to its ownership of real estate that's very much in demand for the steadily growing cannabis industry.
Based on the average brokerage recommendation (ABR), Innovative Industrial Properties (IIPR) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric. So, is the stock worth buying?
Innovative Industrial Properties (IIPR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
The mean of analysts' price targets for Innovative Industrial Properties (IIPR) points to an 87.4% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Innovative Industrial Properties (IIPR) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
With an economic downturn and rising interest rates threatening commercial real estate, the marijuana industry facing a barrage of headwinds over the last year, and questions about the ability of its tenants to pay their rent, it's no wonder Innovative Industrial Properties' (NYSE: IIPR) shares are down 50% in the past 12 months. Could it be that things are looking up for IIP? The most important metric from Innovative Industrial's Q1 update was its rent collection rate, which was 98%.
Presenting today are Alan Gold, executive chairman; Paul Smithers, president and chief executive officer; David Smith, chief financial officer; Catherine Hastings, chief operating officer; and Ben Regin, chief investment officer. Before we begin, I'd like to remind everyone that statements made during today's conference call may be deemed forward-looking statements within the meaning of the Safe Harbor of the Private Securities Litigation Reform Act of 1995, and actual results may differ materially due to a variety of risks, uncertainties, and other factors.
With the cannabis industry gaining prominence, Innovative Industrial's (IIPR) investment in such properties aids its Q1 performance, though high expenses act as a spoilsport.
Innovative Industrial Properties (IIPR) delivered FFO and revenue surprises of 10.29% and 7.44%, respectively, for the quarter ended March 2023. Do the numbers hold clues to what lies ahead for the stock?
SAN DIEGO, May 08, 2023--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the first quarter ended March 31, 2023.
In the latest trading session, Innovative Industrial Properties (IIPR) closed at $68.32, marking a +0.77% move from the previous day.
With the cannabis industry gaining prominence, Innovative Industrial's (IIPR) investment in such properties is likely to have aided its Q1 performance, though high expenses might have played a spoilsport.
Innovative Industrial Properties (IIPR) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The dividend income you might receive from these stocks just isn't worth the risk and awful returns they might generate.
Innovative Industrial Properties (IIPR) closed at $68.55 in the latest trading session, marking a +1.08% move from the prior day.
Chinese esports specialist Huya (NYSE: HUYA), cannabis grow-house landlord Innovative Industrial Properties (NYSE: IIPR), and e-commerce giant Amazon (NASDAQ: AMZN) are three of my investments that I am not pleased with at the moment. It's fair to call Huya the Twitch of China. The scintillating growth that mesmerized the market when Huya went public at $12 in 2018 and was trading north of $50 a few weeks later is gone.
SAN DIEGO, April 24, 2023--Innovative Industrial Properties, Inc. (NYSE: IIPR) announced today it will report results for its first quarter ended March 31, 2023 after the market closes on Monday, May 8, 2023.
Income investors know that it takes money to make money. You can't generate significant dividend income without investing a hefty amount up front. However, some stocks pay much higher dividends than others.
Innovative Industrial Properties (IIPR) closed at $69.07 in the latest trading session, marking a +0.07% move from the prior day.
Recently, Zacks.com users have been paying close attention to Innovative Industrial Properties (IIPR). This makes it worthwhile to examine what the stock has in store.
Cannabis stocks have underperformed over the last two years for various reasons, including the lack of progress on federal-level legalization. Because cannabis is illegal on the U.S. federal level, marijuana companies face challenges raising capital through traditional bank loans and credit lines.
Innovative Industrial Properties (IIPR) closed the most recent trading day at $72.68, moving +0.78% from the previous trading session.
Innovative Industrial Properties (NYSE: IIPR) is one of the few cannabis stocks that I regularly cover and find to be an intriguing investment, even against the current volatile backdrop of the marijuana industry. When the company reported its 2022 earnings at the end of February, it had collected 92% of its rental revenues for the month, and it consistently reports rental collection rates in the 90th percentile range.
Innovative Industrial Properties (NYSE: IIPR), commonly referred to as IIP, has long prospered by capitalizing on the growth of the cannabis industry. Instead of operating as a marijuana producer, it is a real estate investment trust (REIT) renting property to medical cannabis growers. While this approach has kept it consistently profitable and its properties 100% leased, it has not insulated IIP from all of the industry's troubles.
The company continues to grow its installed base of systems -- a key determinant of its recurring streams of revenue -- and growth remains particularly strong, compared to pre-pandemic levels. Although many surgical procedures were delayed earlier last year in key markets like Europe and Asia due to COVID-19 case spikes, the types of procedures that Intuitive Surgical's products support are generally not elective. For the procedures that are elective, the company will soon get past any unfavorable year-over-year comparisons from pandemic-affected quarters.