Is innovative a good buy now

**Innovative Industrial Properties (IIPR) appears to be a strong buy at this time**, and here's why: 1. **Analyst Consensus and Price Target**: The analyst consensus rating for IIPR is a "Buy," with an average price target of $130. This suggests that analysts are optimistic about the stock's future performance. 2. **Financial Performance**: IIPR has shown a revenue growth rate of 4.36% and a net profit margin of 52.45%. The company's net income stands at $41.99 million, indicating a healthy bottom line. 3. **Valuation Metrics**: The stock's price-to-earnings (P/E) ratio is 20.83, which is relatively high but not unreasonable for a real estate investment trust (REIT) focused on a specialized market. The price-to-sales (P/S) ratio is 11.16, and the price-to-book (P/B) ratio is 1.76. These ratios are generally in line with the industry averages. 4. **Market Position and Growth Prospects**: Innovative Industrial Properties is focused on the regulated cannabis facility market, which is expected to grow significantly. The company has elected to be taxed as a REIT, which could provide tax advantages for investors. 5. **Recent Brokerage Activity**: There have been positive developments, such as Piper Sandler boosting its price target to $120.00 and Roth MKM increasing its target price to $140.00. These actions by brokerage firms can be indicative of their confidence in the stock's potential. 6. **Institutional Confidence**: Institutional investors hold a significant portion of IIPR shares, indicating confidence in the company's long-term prospects. In conclusion, IIPR's strong financials, positive analyst sentiment, and strategic positioning in a growing market make it a compelling investment option. However, investors should consider their risk tolerance and the potential volatility associated with a high P/E ratio.