Compass Point analyst Steve Manaker reiterated a Buy rating on Innovative Industrial Properties Inc (NYSE: IIPR) on August 14 and set a price target of $42. The company’s shares opened today at $34.43.
According to TipRanks.com, Manaker is a 5-star analyst with an average return of 14.1% and a 75.7% success rate. Manaker covers the Financial sector, focusing on stocks such as Preferred Apartment Communities, NexPoint Residential Trust Inc, and Independence Realty.
Currently, the analyst consensus on Innovative Industrial Properties Inc is a Moderate Buy with an average price target of $40.50, representing a 17.6% upside. In a report issued on August 14, Ladenburg also reiterated a Buy rating on the stock with a $41 price target.
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The company has a one-year high of $39.75 and a one-year low of $16.35. Currently, Innovative Industrial Properties Inc has an average volume of 133.3K.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is neutral on the stock.
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Innovative Industrial Properties, Inc. focuses on the acquisition, ownership and management of industrial properties leased to experienced, state-licensed operators for regulated medical-use cannabis facilities. It intends to acquire properties through sale-leaseback transactions and third-party purchases.
