Innovative Industrial Properties
Last week, Innovative Industrial Properties (IIPR) reported its earnings. The company reported sales of $4.7 million, which more than doubled from the fourth quarter in 2017. The company also reported positive income and an EPS of $0.24 during the fourth quarter, which grew from $0.07 a year ago. Let’s look at how analysts (HMMJ) view Innovative Industrial Properties in March.
Analysts’ recommendations for Innovative Industrial Properties have been fairly consistent over the last few months. Compared to other cannabis stocks including Canopy Growth (WEED), Tilray (TLRY), and Aurora Cannabis (ACB), only three analysts are covering Innovative Industrial Properties. Investors should use these recommendations cautiously. Among the three analysts, two recommended a “strong buy” for the next 12-month period, which decreased from three in February. One analyst recommended a “hold” on the stock in March.
None of the analysts recommended a “sell” or “strong sell” on the stock. The overall recommendation for Innovative Industrial Properties was a “buy,” which was largely unchanged month-over-month.
The consensus target price on Innovative Industrial Properties at the time of this writing was $85.5, which increased from $63 in February. On average, the analysts that cover the stock have turned bullish for the next 12-month period. However, Innovative Industrial Properties closed at $88.4 on March 20, which was above the target price.
Next, we’ll discuss analysts’ ratings and target price for Supreme Cannabis (SPRWF).