Compass Point Boosts Innovative Industrial Properties to ‘Buy’
On November 8, 2024, Compass Point upgraded their rating for Innovative Industrial Properties (LSE:0JBD) from Neutral to Buy.
Significant Growth Expected: Analyst Price Forecast
As of October 22, 2024, analysts predict that the average price for Innovative Industrial Properties will reach 138.21 GBX/share within a year, showcasing a potential growth of 29.35%. The predicted range spans from a low of 115.90 GBX to a high of 187.54 GBX. This average target indicates a rise from its recent closing price of 106.85 GBX/share.
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The annual revenue forecast for Innovative Industrial Properties is set at 310 million, representing a slight decline of 0.43%. Additionally, the expected annual non-GAAP EPS (earnings per share) stands at 5.81.
Investors’ Interest: Fund Sentiment
A total of 689 funds and institutions currently report holding stakes in Innovative Industrial Properties. This marks an increase of 6 owners, or 0.88%, from the previous quarter. The average portfolio weight of these funds in 0JBD is now 0.22%, reflecting a rise of 2.41%. Institutional ownership grew by 3.09% over the past three months, totaling 21,566,000 shares.
IJR – iShares Core S&P Small-Cap ETF holds 1,844,000 shares, representing 6.51% ownership in the company. This reflects a decrease of 2.82% from its earlier filing, although the ETF has increased its allocation in 0JBD by 6.55% in the last quarter.
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 1,130,000 shares, equating to 3.99% ownership. This is down from 1,145,000 shares reported previously, marking a decrease of 1.34%. However, its portfolio allocation in 0JBD increased by 4.43% last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 876,000 shares, or 3.09% of the company, down from 882,000 shares, a decrease of 0.74%. Still, the fund boosted its allocation in 0JBD by 1.82% recently.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 713,000 shares, which is 2.52% ownership, a slight drop from 715,000 shares previously, representing a 0.34% decrease. Yet, this fund increased its allocation in 0JBD by 10.28% over the last quarter.
IWM – iShares Russell 2000 ETF holds 656,000 shares, translating to 2.32% ownership, also showing a decrease from 686,000 shares by 4.49%. Despite this, it raised its allocation in 0JBD by 10.14% over the last quarter.
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