Are we looking at the next cheap bargain in Innovative Industrial Properties Inc. (IIPR)?

Innovative Industrial Properties Inc. (NYSE: IIPR) is 6.25% higher on its value in year-to-date trading and has touched a low of $40.21 and a high of $206.45 in the current 52-week trading range. The IIPR stock was last observed hovering at around $187.12 in the last trading session, with the day’s gains setting it 7.46% off its average median price target of $219.00 for the next 12 months. It is also 22.17% off the consensus price target high of $250.00 offered by 7 analysts, but current levels are -21.61% lower than the price target low of $160.00 for the same period.

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Currently trading at $194.58, the stock is 3.74% and 11.14% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.19 million and changing 3.99% at the moment leaves the stock 57.43% off its SMA200. IIPR registered 117.41% gain for a year compared to 6-month gain of 86.68%. The firm has a 50-day simple moving average (SMA 50) of $186.72 and a 200-day simple moving average (SMA200) of $141.47.

The stock witnessed a 5.93% loss in the last 1 month and extending the period to 3 months gives it a 62.24%, and is 0.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.37% over the week and 5.22% over the month.

Innovative Industrial Properties Inc. (IIPR) has around 14 employees, a market worth around $4.77B and $97.50M in sales. Current P/E ratio is 62.95 and Fwd P/E is 34.11. Profit margin for the company is 53.80%. Distance from 52-week low is 383.91% and -5.75% from its 52-week high. The company has generated returns on investments over the last 12 months (3.70%).

Innovative Industrial Properties Inc. (IIPR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Innovative Industrial Properties Inc. (IIPR) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.00, where 2 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Innovative Industrial Properties Inc. is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at $1.07 with sales reaching $38.5M over the same period.The EPS is expected to grow by 171.60% this year, but quarterly earnings will post 164.30% year-over-year. Quarterly sales are estimated to grow 117.90% in year-over-year returns.

Innovative Industrial Properties Inc. (IIPR) Top Institutional Holders

429 institutions hold shares in Innovative Industrial Properties Inc. (IIPR), with 474.53k shares held by insiders accounting for 2.14% while institutional investors hold 79.60% of the company’s shares. The shares outstanding are 23.93M, and float is at 21.71M with Short Float at 8.70%. Institutions hold 77.89% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 3.56 million shares valued at $441.97 million. The investor’s holdings represent 16.06% of the IIPR Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 2.86 million shares valued at $355.33 million to account for 12.91% of the shares outstanding. The other top investors are State Street Corporation which holds 1.01 million shares representing 4.54% and valued at over $125.07 million, while Zimmer Partners, LP holds 4.06% of the shares totaling 0.9 million with a market value of $111.7 million.

Innovative Industrial Properties Inc. (IIPR) Insider Activity

A total of 16 insider transactions have happened at Innovative Industrial Properties Inc. (IIPR) in the last six months, with sales accounting for 11 and purchases happening 5 times. The most recent transaction is an insider purchase by Curran Mary A, the company’s Director. SEC filings show that Curran Mary A bought 500 shares of the company’s common stock on Sep 04 at a price of $118.26 per share for a total of $59130.0. Following the purchase, the insider now owns 2305.0 shares.

Innovative Industrial Properties Inc. disclosed in a document filed with the SEC on Sep 02 that Gold Alan D (Executive Chairman) sold a total of 15,000 shares of the company’s common stock. The trade occurred on Sep 02 and was made at $125.53 per share for $1.88 million. Following the transaction, the insider now directly holds 0.29 million shares of the IIPR stock.

Still, SEC filings show that on Sep 01, Shoemaker Scott (Director) disposed off 2,500 shares at an average price of $125.36 for $0.31 million. The insider now directly holds 3,060 shares of Innovative Industrial Properties Inc. (IIPR).

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Innovative Industrial Properties Inc. (IIPR): Who are the competitors?

The company’s main competitors (and peers) include Realty Income Corporation (O) that is trading -23.28% down over the past 12 months. New York Mortgage Trust Inc. (NYMT) is -39.45% down on the 1-year trading charts. Short interest in the company’s stock has risen 4.76% from the last report on Dec 14, 2020 to stand at a total of 1.8 million short shares sold with a short interest ratio of 3.37.

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