Innovative Industrial Properties (IIPR) Lowered to Neutral at LADENBURG THALM/SH SH

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Innovative Industrial Properties (NYSE:IIPR) was downgraded by LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.

Other equities analysts have also recently issued reports about the stock. TheStreet upgraded shares of Innovative Industrial Properties from a “c” rating to a “b-” rating in a research report on Friday, November 30th. BTIG Research boosted their target price on shares of Innovative Industrial Properties to $101.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of Innovative Industrial Properties from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Saturday, February 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Innovative Industrial Properties currently has an average rating of “Buy” and an average target price of $66.75.

Shares of NYSE:IIPR opened at $89.87 on Wednesday. The company has a market capitalization of $845.39 million, a PE ratio of 67.07 and a beta of 1.74. Innovative Industrial Properties has a 12 month low of $25.60 and a 12 month high of $89.89.

Several institutional investors have recently made changes to their positions in IIPR. New York State Teachers Retirement System bought a new stake in shares of Innovative Industrial Properties during the 4th quarter valued at approximately $27,000. Patten Group Inc. bought a new stake in shares of Innovative Industrial Properties during the 4th quarter valued at approximately $27,000. Legal & General Group Plc grew its holdings in shares of Innovative Industrial Properties by 50.0% during the 4th quarter. Legal & General Group Plc now owns 1,440 shares of the company’s stock valued at $65,000 after purchasing an additional 480 shares during the last quarter. BerganKDV Wealth Management LLC grew its holdings in shares of Innovative Industrial Properties by 215.1% during the 4th quarter. BerganKDV Wealth Management LLC now owns 1,481 shares of the company’s stock valued at $67,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Innovative Industrial Properties by 30.3% during the 4th quarter. Advisor Group Inc. now owns 1,600 shares of the company’s stock valued at $72,000 after purchasing an additional 372 shares during the last quarter. 56.78% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.

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