Innovative Industrial Properties, Inc. (NYSE:IIPR) could be among the worst stocks to invest in right now as the company shares are trading 3.95% or 4.87 points down from last closing price of $123.32, reaching $118.45 at last check. Any clue why there is so much of action in the IIPR stock? The share price has dropped in 4 of the last 5 days and is up 52.74% over the past week. It will be exciting to see whether the stock manages to continue decreasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -36,527 shares, and in total 305773 shares valued at $36.219 million were seen changing hands compared with 342300 shares valued at $42.212 million recorded at the previous session. You should take into consideration that a falling volume on lower prices shows the bearish trend but this is an early indication which means that the IIPR stock is near its bottom.
Innovative Industrial Properties, Inc. (IIPR) shares have notched a 3-month gain of about 52.74%, but has still advanced 171.69% year to date. By comparison, the stock added 270.22% over the past 12 months, while it slipped -1.59% over the 1 month. The company’s market cap is around $1.37B, with its short interest ratio standing at 5.44%.
In the current trading session for IIPR, the stock witnessed two major price actions, it rose to a high of $123.84 and was down as much as $116.27 at one point. The high recorded is very low when compared to their 52-week high which is $31.61. The 52-week high is now at -14.12 distance from current price. Their recent low of $139.53 represents a 279.11% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for IIPR is $164, this is above the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The stock of Innovative Industrial Properties, Inc. earned $0.95 per share in the trailing 12 months and has a P/E ratio of 124.68. You can compare it with that of similar companies in its industry to get a sense of whether the stock you’re looking to purchase is overvalued or undervalued. Its current price to earnings ratio is higher than the ones recorded by the industry which is 65.05 and higher compared to the sector’s average of 22.3. When the P/E ratio is low let’s say below 1.0, then the stock price is considered a good value. IIPR also has P/S multiple of 70.12. This is greater versus the 12 month P/S ratios of other companies in the same indutry. The peer average price to sales ratio is 12.19x.
The company recorded an interesting insider sale transaction by the VP on May 17, 2019. A Securities and Exchanges Commission filings show that Brian J Wolfe sold a total of 3,181 IIPR shares that day for a sum of around $283,141. The filings show that the insider now retains 14,955 shares, currently worth $1,771,420. Innovative Industrial Properties, Inc. (IIPR) insiders have acquired 2,977 shares in the stock within the past three months. The total insider sales reported to the SEC in that time frame amounted to 6,181 shares. In total, individual insiders traded 9,158 shares in the business, which makes up 1.479% of 619,262 shares that were traded over a year. In the past 12 months, insiders have purchased 116,513 shares while the seller parted with 502,749 shares.
IIPR‘s last price was up 64.94% as compared to the average trading price of 50 days recorded at $71.81 while enlarging the period to 200 trading days, the average closing price was $105.3. At present, there are 11.13 million in the total number of common shares owned by the public and among those 9.25 million shares have been available to trade. The percentage of shares being held by the company management was 4.3% while institutions stake was 65.8%. The company has generated positive returns on equity over the last 12 months (4.2%). It managed to keep its gross profit margin at 96.8% over the past 12 months.
When assessing the full upside of the IIPR stock, there is another set of technicals that should be looked into and considered. Its -5.17% decline from moving average of $124.91 has brought about a negative sentiment when calculated over the last 20 days. The market has allocated a beta of 0 to the stock. With the beta been less than one, this implies that the company shares are theoretically less volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Innovative Industrial Properties, Inc. — 2 analysts rate the stock as a buy with another 0 rating it strong buy. There are 1 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $82 on shares of Innovative Industrial Properties, Inc. (NYSE:IIPR), which corresponds to 31.71% downside potential than its current market price of $118.45 and implies potential despite the recent drop in the price. However, their current target price has fallen from $82 a month ago and is up handily from the consensus target of $66.3333 a quarter ago.
Let’s briefly check the hedge fund interest towards IIPR stock. SeaCrest Wealth Management LLC added position in the company after it grew 71.5% or 1,776 shares of its common stock. The hedge fund now owns 3,045 shares worth $360,680, SEC documents show. Focused Wealth Management Inc shored up assets in the stock as 100 shares have been purchased, increasing its stake by 230% to 330 shares which are currently valued at $39,089. In addition, Commonwealth Equity Services LLC recently reported that it now owns 7,460 shares making a total of $883,637 based on the recent price. This refelects a change of 21.4% in their ownership.