19,107 Shares in Innovative Industrial Properties, Inc. (NYSE:IIPR) Bought by TCW Group Inc.

TCW Group Inc. acquired a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 19,107 shares of the company’s stock, valued at approximately $2,572,000.

A number of other large investors have also recently bought and sold shares of IIPR. USA Financial Formulas acquired a new stake in shares of Innovative Industrial Properties in the 3rd quarter valued at $25,000. Blue Trust Inc. lifted its position in shares of Innovative Industrial Properties by 2,085.7% during the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock worth $48,000 after buying an additional 438 shares during the last quarter. Signaturefd LLC lifted its position in shares of Innovative Industrial Properties by 42.3% during the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $55,000 after buying an additional 150 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Innovative Industrial Properties in the third quarter valued at about $55,000. Finally, Loomis Sayles & Co. L P grew its position in Innovative Industrial Properties by 3,130.8% in the third quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after acquiring an additional 407 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IIPR shares. Wolfe Research upgraded shares of Innovative Industrial Properties to a “hold” rating in a research note on Monday, September 23rd. Compass Point upgraded shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Friday, November 8th. Piper Sandler lowered their price target on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

Innovative Industrial Properties Stock Down 0.4 %

NYSE:IIPR opened at $103.88 on Friday. Innovative Industrial Properties, Inc. has a one year low of $87.52 and a one year high of $138.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53. The company has a market cap of $2.94 billion, a PE ratio of 18.48 and a beta of 1.30. The firm’s 50 day simple moving average is $118.52 and its 200 day simple moving average is $118.33.

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

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.