Innovative Industrial Properties, Inc. (IIPR) to Issue Quarterly Dividend of $1.90 on April 15th

Innovative Industrial Properties, Inc. (NYSE:IIPR) declared a quarterly dividend on Friday, March 13th. Investors of record on Tuesday, March 31st will be paid a dividend of 1.90 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 14.4%. The ex-dividend date of this dividend is Tuesday, March 31st.

Innovative Industrial Properties has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Innovative Industrial Properties has a dividend payout ratio of 176.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Performance

Innovative Industrial Properties stock opened at $52.68 on Friday. Innovative Industrial Properties has a 1-year low of $44.58 and a 1-year high of $70.19. The company has a current ratio of 4.38, a quick ratio of 4.38 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.48 billion, a PE ratio of 13.44 and a beta of 1.45. The firm’s 50 day simple moving average is $50.00 and its 200 day simple moving average is $51.87.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Monday, February 23rd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.71 by $0.17. The firm had revenue of $66.66 million during the quarter, compared to the consensus estimate of $66.16 million. Innovative Industrial Properties had a net margin of 44.46% and a return on equity of 6.43%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period last year, the firm earned $2.03 EPS. As a group, analysts expect that Innovative Industrial Properties will post 8.28 earnings per share for the current fiscal year.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.