BI Asset Management Fondsmaeglerselskab A S Sells 7,030 Shares of Innovative Industrial Properties, Inc. $IIPR

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 91.4% in the first quarter, Holdings Channel reports. The institutional investor owned 661 shares of the company’s stock after selling 7,030 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Innovative Industrial Properties were worth $36,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. PSI Advisors LLC raised its holdings in Innovative Industrial Properties by 454.5% in the 1st quarter. PSI Advisors LLC now owns 610 shares of the company’s stock valued at $33,000 after buying an additional 500 shares during the last quarter. SSA Swiss Advisors AG bought a new stake in Innovative Industrial Properties in the first quarter valued at approximately $33,000. GF Fund Management CO. LTD. bought a new stake in Innovative Industrial Properties in the fourth quarter valued at approximately $34,000. Signaturefd LLC boosted its holdings in Innovative Industrial Properties by 49.7% in the first quarter. Signaturefd LLC now owns 756 shares of the company’s stock valued at $41,000 after acquiring an additional 251 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Innovative Industrial Properties in the fourth quarter valued at approximately $56,000. Institutional investors own 70.58% of the company’s stock.

Analysts Set New Price Targets

Separately, Wolfe Research cut Innovative Industrial Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Innovative Industrial Properties currently has a consensus rating of “Hold” and a consensus target price of $78.67.

Innovative Industrial Properties Trading Down 0.3%

Shares of IIPR stock opened at $54.93 on Wednesday. The company has a market cap of $1.54 billion, a P/E ratio of 11.89 and a beta of 1.65. The stock has a 50 day simple moving average of $54.14 and a two-hundred day simple moving average of $58.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.30 and a current ratio of 10.30. Innovative Industrial Properties, Inc. has a fifty-two week low of $45.44 and a fifty-two week high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its earnings results on Wednesday, August 6th. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.03. The business had revenue of $62.89 million during the quarter, compared to the consensus estimate of $64.36 million. Innovative Industrial Properties had a return on equity of 7.26% and a net margin of 47.71%.The firm’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.06 earnings per share. Research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $1.90 dividend. The ex-dividend date was Monday, June 30th. This represents a $7.60 annualized dividend and a yield of 13.8%. Innovative Industrial Properties’s dividend payout ratio is presently 164.50%.

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.