Innovative Industrial Properties price target raised to $117 from $110 at Roth MKM

Roth MKM raised the firm’s price target on Innovative Industrial Properties to $117 from $110 and keeps a Buy rating on the shares. The company should report another solid quarter despite managing through a U.S. cannabis liquidity crisis, limited capital to deploy, and various tenant defaults, the analyst tells investors in a research note. While new tenants on its defaulted properties have been slow to materialize, Roth MKM expects to see Innovative Industrial Properties make progress in re-leasing over the near-term, the firm added.