BTIG analyst Tom Catherwood maintained a Buy rating on Innovative Industrial Properties (IIPR) yesterday and set a price target of $218.00. The company’s shares closed last Wednesday at $173.07.
According to TipRanks.com, Catherwood is a 3-star analyst with an average return of 7.3% and a 71.4% success rate. Catherwood covers the Financial sector, focusing on stocks such as Industrial Logistics Properties, Eastgroup Properties, and INDUS Realty Trust.
Currently, the analyst consensus on Innovative Industrial Properties is a Moderate Buy with an average price target of $196.50.
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The company has a one-year high of $222.08 and a one-year low of $66.86. Currently, Innovative Industrial Properties has an average volume of 365.3K.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IIPR in relation to earlier this year.
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Innovative Industrial Properties, Inc. focuses on the acquisition, ownership and management of industrial properties. It includes properties leased to experienced, state-licensed operators for regulated medical-use cannabis facilities. The firm intends to acquire properties through sale-leaseback transactions and third-party purchases. The company was founded by Gold, Alan D. and Smithers, Paul E. on June 15, 2016 and is headquartered in San Diego, CA.
