Innovative Industrial Properties price target lowered to $85 from $95 at Compass Point

Compass Point lowered the firm’s price target on Innovative Industrial Properties to $85 from $95 and keeps a Neutral rating on the shares after the company reported Q3 results. While the total return to the firm’s revised price target is “fairly attractive” and the dividend is “stable,” the firm says it will remain on the sidelines until the company is able to re-lease the two vacant cannabis cultivation facilities it recovered from defaulted tenants.