Innovative Industrial Properties, Inc. (NYSE:IIPR) Declares $1.90 Quarterly Dividend

Innovative Industrial Properties, Inc. (NYSE:IIPR) announced a quarterly dividend on Monday, December 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of 1.90 per share on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 13.5%. The ex-dividend date is Wednesday, December 31st.

Innovative Industrial Properties has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Innovative Industrial Properties has a dividend payout ratio of 176.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Innovative Industrial Properties to earn $8.84 per share next year, which means the company should continue to be able to cover its $7.60 annual dividend with an expected future payout ratio of 86.0%.

Innovative Industrial Properties Stock Down 0.5%

IIPR opened at $56.48 on Tuesday. Innovative Industrial Properties has a 12 month low of $44.58 and a 12 month high of $104.64. The company has a market cap of $1.58 billion, a PE ratio of 13.38 and a beta of 1.50. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $51.32 and a 200 day moving average of $53.72.

Innovative Industrial Properties (NYSE:IIPR) last posted its earnings results on Monday, November 3rd. The company reported $1.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.02). Innovative Industrial Properties had a return on equity of 6.77% and a net margin of 45.80%.The company had revenue of $64.69 million for the quarter, compared to analysts’ expectations of $63.72 million. During the same quarter in the prior year, the company earned $2.25 EPS. The company’s revenue was down 15.4% on a year-over-year basis. On average, sell-side analysts expect that Innovative Industrial Properties will post 8.28 EPS for the current year.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated 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.