Innovative Industrial Properties Inc (IIPR) to Issue Quarterly Dividend of $0.25 on January 16th

Innovative Industrial Properties Inc (NYSE:IIPR) announced a quarterly dividend on Friday, December 15th, NASDAQ reports. Investors of record on Friday, December 29th will be given a dividend of 0.25 per share on Tuesday, January 16th. This represents a $1.00 annualized dividend and a yield of 3.84%. The ex-dividend date is Thursday, December 28th. This is an increase from Innovative Industrial Properties’s previous quarterly dividend of $0.15.

Innovative Industrial Properties (NYSE:IIPR) traded up $1.39 during mid-day trading on Wednesday, reaching $26.06. 185,300 shares of the company traded hands, compared to its average volume of 39,051. The firm has a market capitalization of $91.24 and a P/E ratio of -41.37. Innovative Industrial Properties has a 1-year low of $15.45 and a 1-year high of $27.26.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $1.56 million during the quarter. Innovative Industrial Properties had a negative net margin of 108.39% and a negative return on equity of 8.09%. equities analysts forecast that Innovative Industrial Properties will post 0.18 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on IIPR shares. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Innovative Industrial Properties in a report on Friday, October 20th. Zacks Investment Research raised shares of Innovative Industrial Properties from a “sell” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday.

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Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.

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