In a recently released analyst research report, Ladenburg Thalman‘s Vice President of Equity Research, John Massocca, just downgraded his rating on shares of the NYSE-listed cannabis-focused REIT, Innovative Industrial Properties, Inc. (NYSE:IIPR), to a hold.
Why Massocca Rated IIPR a Hold
John Massocca’s hold rating reflects how rapidly the share prices have risen for the cannabis, exemplified by its the last traded price of $89.49 USD on the NYSE. Meanwhile, BTIG Director and REIT analyst, Thomas Catherwood, just reiterated his Buy rating on shares of Innovative Industrial Properties, Inc. with a higher price target.
According to John Massocca’s analyst update, “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.”
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