JMP Securities analyst Aaron Hecht reiterated a Buy rating on Innovative Industrial Properties (NYSE:IIPR) Inc on Thursday, setting a price target of $300, which is approximately 12.63% above the present share price of $266.36.
Hecht expects Innovative Industrial Properties Inc to post earnings per share (EPS) of $1.21 for the fourth quarter of 2021.
The current consensus among 6 TipRanks analysts is for a Strong Buy rating of shares in Innovative Industrial Properties, with an average price target of $265.83.
The analysts price targets range from a high of $300 to a low of $240.
In its latest earnings report, released on 06/30/2021, the company reported a quarterly revenue of $48.87 million and a net profit of $32.94 million. The company's market cap is $6.37 billion.
According to TipRanks.com, JMP Securities analyst Aaron Hecht is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 14.4% and a 77.14% success rate.
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.