Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 10.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,349 shares of the company’s stock after buying an additional 506 shares during the period. Van ECK Associates Corp’s holdings in Innovative Industrial Properties were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Compass Financial Services Inc purchased a new position in Innovative Industrial Properties in the fourth quarter valued at about $32,000. Canton Hathaway LLC bought a new position in Innovative Industrial Properties in the 3rd quarter valued at $55,000. Loomis Sayles & Co. L P lifted its stake in shares of Innovative Industrial Properties by 3,130.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after purchasing an additional 407 shares during the period. US Bancorp DE raised its stake in Innovative Industrial Properties by 75.3% during the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after buying an additional 189 shares during the period. Finally, KBC Group NV increased its holdings in Innovative Industrial Properties by 37.1% during the 4th quarter. KBC Group NV now owns 1,289 shares of the company’s stock worth $86,000 after purchasing an additional 349 shares in the last quarter. 70.58% of the stock is owned by institutional investors and hedge funds.

Innovative Industrial Properties Stock Performance

Shares of IIPR stock opened at $72.94 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. The company has a market capitalization of $2.07 billion, a P/E ratio of 13.19 and a beta of 1.40. The stock has a 50 day moving average price of $72.18 and a two-hundred day moving average price of $104.31. Innovative Industrial Properties, Inc. has a fifty-two week low of $62.45 and a fifty-two week high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. The firm had revenue of $76.74 million during the quarter, compared to analyst estimates of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. Analysts expect that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $1.90 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $7.60 annualized dividend and a yield of 10.42%. Innovative Industrial Properties’s payout ratio is 137.43%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IIPR shares. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Compass Point lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $78.00 in a report on Friday, December 20th. JMP Securities reiterated a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Finally, Alliance Global Partners lowered shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $102.00.

Innovative Industrial Properties Company Profile

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.