Innovative Industrial Properties, Inc. (NYSE:IIPR) Position Increased by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft boosted its stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,700 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Innovative Industrial Properties were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Innovative Industrial Properties by 17.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 237,206 shares of the company’s stock valued at $31,928,000 after purchasing an additional 35,269 shares during the last quarter. Barclays PLC boosted its position in shares of Innovative Industrial Properties by 187.5% during the third quarter. Barclays PLC now owns 47,988 shares of the company’s stock worth $6,459,000 after buying an additional 31,295 shares during the period. Geode Capital Management LLC grew its holdings in Innovative Industrial Properties by 31.9% in the 3rd quarter. Geode Capital Management LLC now owns 52,872 shares of the company’s stock worth $7,133,000 after buying an additional 12,791 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Innovative Industrial Properties in the 3rd quarter valued at approximately $713,000. Finally, Versor Investments LP raised its stake in Innovative Industrial Properties by 98.3% during the 3rd quarter. Versor Investments LP now owns 12,227 shares of the company’s stock valued at $1,646,000 after acquiring an additional 6,062 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock opened at $72.99 on Friday. Innovative Industrial Properties, Inc. has a 12 month low of $62.45 and a 12 month high of $138.35. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.07 billion, a PE ratio of 12.99 and a beta of 1.39. The business has a fifty day simple moving average of $83.13 and a 200-day simple moving average of $109.60.

Innovative Industrial Properties (NYSE:IIPR) last issued its earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. The business had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. During the same quarter in the prior year, the company earned $2.29 EPS. Innovative Industrial Properties’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Innovative Industrial Properties, Inc. will post 8.36 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 10.41%. The ex-dividend date of this dividend was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 135.23%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IIPR shares. Piper Sandler lowered Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $118.00 to $70.00 in a report on Friday, December 20th. JMP Securities restated a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Alliance Global Partners cut shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Finally, Compass Point lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating and decreased their price target for the company from $125.00 to $78.00 in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.50.

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.