Technicals Say Innovative Industrial Properties Inc. (IIPR) Is Worth Holding

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SNOW Stock

As of Wednesday close, Innovative Industrial Properties Inc.’s (NYSE:IIPR) stock was down -$0.7, moving down -0.60 percent to $116.68. The average number of shares traded per day over the past five days has been 221,800 shares. 4 times new highs have been achieved over the past 5 days, with a $2.83 gain in that time frame. In the last twenty days, the average volume was 288,045, while in the previous 50 days, it was 363,296.

Since last month, IIPR stock rose 15.27%. Shares of the company fell to $93.08 on 10/24/22, the lowest level in the past month. A 52-week high of $270.86 was reached on 01/03/22 after having rallying from a 52-week low of $87.47. Since the beginning of this year, IIPR’s stock price has dropped by -55.62% or -$146.23, and marked a new high 1 time. However, the stock has declined by -56.92% since its 52-week high.

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IIPR stock investors should be aware that Innovative Industrial Properties Inc. (IIPR) stock had its last reported insider trading activity 104 days ago on Aug 12. Gold Alan D, the EXECUTIVE CHAIRMAN of the company, purchased of 1,000 shares for $97.79 on Aug 12. It resulted in a $97,792 investment by the insider. Gold Alan D added 1,000 shares at an average price of $94.22 on Aug 10. The insider now owns 212,308 shares following the transaction. On Mar 15, Director Kreitzer Gary A sold 2,196 shares at $30.13 apiece. The transaction was valued at $66,164.

Valuation Metrics

Right now, Innovative Industrial Properties Inc. (IIPR) has a P/E ratio of about 22.43. The stock’s beta is 1.63. Besides these, the trailing price-to-sales (P/S) ratio of 12.35, the price-to-book (PB) ratio of 1.67.

The latest dividend of $1.80 per share was paid out, which is 2.86% more than last year’s $1.75. On Thursday September 15 2022, a $0.05 dividend increase was announced.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.15, and the total debt-to-equity ratio was 0.15. On the profitability front, the trailing twelve-month gross margin is 96.60% percent. In the year ended June 29, operating margins totaled 60.40%. Based on annual data, IIPR earned $135.37 million in gross profit and brought in $204.55 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 6.80%. Return on equity (ROE) for the past 12 months was 7.80%.

In Innovative Industrial Properties Inc.’s quarter-end financial report for June 29, it reported total debt of $294.79 million against cash and short-term investments of $239.67 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. IIPR’s revenue rose 24.01% to $70.51 million during the quarter, while net income inched up to $70.88 million. While analysts expected Innovative Industrial Properties Inc. to report $1.36 quarterly earnings, the actual figure was $1.42 per share, beating the consensus estimate by 4.40%. During the quarter, the company generated $57.03 million in EBITDA. The value of shareholders’ equity is $27.97 million.

Technical Picture

This quick technical analysis looks at Innovative Industrial Properties Inc.’s (IIPR) price momentum. With a historical volatility rate of 34.05%, the RSI 9-day stood at 63.56% on 23 November.

With respect to its five-day moving average, the current Innovative Industrial Properties Inc. price is up by +2.49% percent or $2.83. At present, IIPR shares trade +15.87% above its 20-day simple moving average and +2.93% percent above its 100-day simple moving average. However, the stock is currently trading approximately +31.03% above its SMA50 and -37.38% below its SMA200.

Stochastic coefficient K was 84.09% and Stochastic coefficient D was 74.91%, while ATR was 5.09. Given the Stochastic reading of 89.55% for the 14-day period, the RSI (14) reading has been calculated as 61.90%. As of today, the MACD Oscillator reading stands at 1.82, while the 14-day reading stands at 3.06.

Analyst Ratings

Compass Point upgraded its rating on Innovative Industrial Properties Inc. (NYSE: IIPR) to a Buy in a note to investors on September 19, 2022. The analysts firm previously had a Neutral rating on the stock.Innovative Industrial Properties Inc. (IIPR) has been rated Overweight by analysts. According to 0 brokerage firms, IIPR is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Innovative Industrial Properties Inc. stock as buy, with 6 recommending it as overweight.

With a median target price of $160.00, the current consensus forecast for the stock is $140.00 – $196.00. Based on these forecasts, analysts predict Innovative Industrial Properties Inc. (IIPR) will achieve an average price target of $161.83.


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