In a recently released analyst research report, BTIG analyst, Thomas Catherwood, just reiterated his Buy rating on shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) while raising his price target from $60 USD per share to $72.
Recent catalysts for upside include Innovative Industrial Properties’ acquisition of a 75,000 square foot industrial facility on ten acres of land in Barry, Illinois, as well as healthy dividends for its common shares as well as its preferred shares.
Thomas Catherwood’s new price target of $72 USD per share implies a potential upside of approximately 15.50% based on the last traded price of $62.33 USD on the NYSE.
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