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IIPR

Innovative Industrial Properties

$90.00

-0.175 (-0.19%)

13:09
03/23/19
03/23
13:09
03/23/19
13:09

Innovative Industrial Properties flying high, Barron's says

American cannabis producers have money problems and that is a lucky thing for Innovative Industrial Properties (IIPR), Bill Alpert writes in this week's edition of Barron's. One way cannabis outfits can raise funds is to sell and lease back their cultivation properties with Innovative Industrial Properties, which got real-estate investment trust status and an NYSE listing in 2016, before Donald Trump's election slammed those doors on its rivals, the publication notes. As the only U.S.-listed REIT serving the cash hungry cannabis industry, the company has parleyed its cost-of-capital advantage into steady growth and a generously-valued stock, Alpert adds. Reference Link

IIPR Innovative Industrial Properties
$90.00

-0.175 (-0.19%)

03/20/19
LTCO
03/20/19
DOWNGRADE
LTCO
Neutral
Innovative Industrial Properties downgraded to Neutral from Buy at Ladenburg
Ladenburg Thalmann analyst John Massocca downgraded Innovative Industrial Properties to Neutral from Buy without a price target. The company's "sector leading" growth potential and "unique position" is now reflected in the stock's valuation, Massocca tells investors in a research note. He downgrades the shares following the recent rally.
03/19/19
BTIG
03/19/19
NO CHANGE
Target $101
BTIG
Buy
Innovative Industrial Properties price target raised to $101 from $72 at BTIG
BTIG analyst Thomas Catherwood raised his price target on Innovative Industrial Properties to $101 and kept his Buy rating, saying that while his prior research note in January expressed confidence in the company's position as a "creative capital provider to the cannabis industry", the "investor acceptance of the cannabis sector" was even better than anticipated. The analyst is also positive on the "funding sources available to Innovative Industrial Properties, and the management's ability to source/execute deals", both of which are evolving in a short period of time. With $144M convertible debt offering completed, Catherwood says Innovative Industrial Properties has even more capital to pursue acquisitions in spite of its existing $114M in liquidity.
01/14/19
BTIG
01/14/19
INITIATION
Target $60
BTIG
Buy
Innovative Industrial Properties initiated with a Buy at BTIG
BTIG analyst Thomas Catherwood initiated Innovative Industrial Properties with a Buy rating and a price target of $60, citing the company's attributes of "early cycle" participation in cannabis industry, outsized scale relative to other REITS, and defensive position in a secular - not cyclical - business. The analyst contends that the REIT's "strategy, capital structure, and creative acquisition arrangements", along with its first-mover advantage, give it the runway for sustainable growth.
11/08/18
LTCO
11/08/18
NO CHANGE
Target $49.5
LTCO
Buy
Regulatory environment provides catalysts for Innovative Industrial, says Ladenburg
Ladenburg analyst John Massocca believes the overall medical cannabis market has seen a number of interesting catalysts in recent days. On the election front, Utah and Missouri voters both passed resolutions to legalize medical cannabis, he points out, while former Attorney General Jeff Sessions, who was noted for his outspoken anti-cannabis leanings, resigned. The analyst believes that the regulatory environment continues to see beneficial catalysts, increasing the opportunity set for Innovative Industrial Properties as it works to deploy capital from recent follow on offering. The analyst reiterates a Buy rating and $49.50 price target on the shares.

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