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Innovative Industrial Properties Inc. (NYSE: IIPR): Unlocking Growth Opportunity

Innovative Industrial Properties Inc. (NYSE:IIPR) shares, rose in value on Friday, 05/13/22, with the stock price up by 9.12% to the previous day’s close as strong demand from buyers drove the stock to $138.47.

Actively observing the price movement in the last trading, the stock closed the session at $126.90, falling within a range of $128.65 and $138.69. The value of beta (5-year monthly) was 1.59 whereas the PE ratio was 31.84 over 12-month period. Referring to stock’s 52-week performance, its high was $288.02, and the low was $121.03. On the whole, IIPR has fluctuated by -24.51% over the past month.

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With the market capitalization of Innovative Industrial Properties Inc. currently standing at about $4.01 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 22, 2022 – Feb 28, 2022. The company’s Forward Dividend Ratio is 7.00, with its dividend yield at 5.06%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.24, which is expected to increase to $1.39 for fiscal year $4.65 and then to about $6.29 by fiscal year 2022. Data indicates that the EPS growth is expected to be 42.20% in 2022, while the next year’s EPS growth is forecast to be 35.30%.

Analysts have estimated the company’s revenue for the quarter at $57.51 million, with a low estimate of $56.54 million and a high estimate of $58.3 million. According to the average forecast, sales growth in current quarter could jump up 55.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $202.97 million, representing an increase of 73.60% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IIPR’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IIPR currently trading nearly -5.92% and -21.01% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.23, while the 7-day volatility ratio is showing 6.60% which for the 30-day chart, stands at 5.25%. Furthermore, Innovative Industrial Properties Inc. (IIPR)’s beta value is 1.78, and its average true range (ATR) is 7.73. The company’s stock has been forecasted to trade at an average price of $242.71 over the course of the next 52 weeks, with a low of $175.00 and a high of $300.00. Based on these price targets, the low is -26.38% off current price, whereas the price has to move -116.65% to reach the yearly target high. Additionally, analysts’ median price of $250.00 is likely to be welcomed by investors because it represents a decrease of -80.54% from the current levels.

A comparison of Innovative Industrial Properties Inc. (IIPR) with its peers suggests the former has fared considerably weaker in the market. IIPR showed an intraday change of 9.12% in last session, and over the past year, it shrunk by -21.06%%. In comparison, Realty Income Corporation (O) has moved higher at 3.09% on the day and was up 6.54% over the past 12 months. On the other hand, the price of Nam Tai Property Inc. (NTP) has fallen -5.73% on the day. The stock, however, is off -80.16% from where it was a year ago. Additionally, there is a gain of 3.40% for New York Mortgage Trust Inc. (NYMT) in last trading while the stock has seen an overall depriciation of -32.29%% over the past year. The PE ratio stands at 31.84 for Innovative Industrial Properties Inc., compared to 66.09 for Realty Income Corporation, and 3.33 for Nam Tai Property Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.47%.

Data on historical trading for Innovative Industrial Properties Inc. (NYSE:IIPR) indicates that the trading volumes over the past 10 days have averaged 0.43 million and over the past 3 months, they’ve averaged 321.01K. According to company’s latest data on outstanding shares, there are 28.93 million shares outstanding.

Nearly 1.00% of Innovative Industrial Properties Inc.’s shares belong to company insiders and institutional investors own 68.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.06 million shares as on Feb 14, 2022, resulting in a short ratio of 4.79. According to the data, the short interest in Innovative Industrial Properties Inc. (IIPR) stood at 4.12% of shares outstanding as of Feb 14, 2022; the number of short shares registered in Jan 13, 2022 reached 0.91 million. The stock has fallen by -47.33% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IIPR stock heading into the next quarter.

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