Cwm LLC Increases Stock Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Cwm LLC boosted its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 36.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,800 shares of the company’s stock after buying an additional 747 shares during the period. Cwm LLC’s holdings in Innovative Industrial Properties were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IIPR. Investors Research Corp boosted its holdings in Innovative Industrial Properties by 2.6% in the 4th quarter. Investors Research Corp now owns 5,000 shares of the company’s stock valued at $504,000 after purchasing an additional 125 shares during the period. Van ECK Associates Corp grew its position in Innovative Industrial Properties by 4.3% during the third quarter. Van ECK Associates Corp now owns 3,271 shares of the company’s stock worth $247,000 after buying an additional 136 shares in the last quarter. Detalus Advisors LLC increased its stake in Innovative Industrial Properties by 3.5% in the 3rd quarter. Detalus Advisors LLC now owns 4,132 shares of the company’s stock worth $313,000 after acquiring an additional 140 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Innovative Industrial Properties by 0.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 18,123 shares of the company’s stock valued at $1,827,000 after acquiring an additional 144 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Innovative Industrial Properties by 2.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,898 shares of the company’s stock valued at $673,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 70.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IIPR shares. Piper Sandler upped their price objective on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. TheStreet upgraded shares of Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Innovative Industrial Properties has an average rating of “Hold” and a consensus target price of $92.67.

Innovative Industrial Properties Stock Up 1.1 %

Shares of IIPR opened at $109.48 on Friday. Innovative Industrial Properties, Inc. has a 1 year low of $65.16 and a 1 year high of $111.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. The stock has a 50 day simple moving average of $99.17 and a two-hundred day simple moving average of $91.83. The firm has a market cap of $3.09 billion, a P/E ratio of 18.97 and a beta of 1.48.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings data on Monday, February 26th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.62). The business had revenue of $79.16 million during the quarter, compared to analysts’ expectations of $76.55 million. Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. On average, analysts forecast that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $1.82 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $7.28 annualized dividend and a dividend yield of 6.65%. Innovative Industrial Properties’s dividend payout ratio is currently 126.17%.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.