Piper Sandler analyst Alexander Goldfarb lowered the firm’s price target on Innovative Industrial Properties (IIPR) to $45 from $55 and keeps an Underweight rating on the shares. Ahead of Q1 2025 earnings, the firm is adjusting estimates for recent company announcements and assumption revisions. Piper says its Innovative Industrial Properties update reflects its best estimation for replacing the rents impacted by recent tenant credit issues.
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