Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by Secure Asset Management LLC

Secure Asset Management LLC boosted its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,818 shares of the company’s stock after purchasing an additional 2,108 shares during the quarter. Secure Asset Management LLC’s holdings in Innovative Industrial Properties were worth $921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in shares of Innovative Industrial Properties by 551.6% in the 4th quarter. SG Americas Securities LLC now owns 7,519 shares of the company’s stock valued at $501,000 after purchasing an additional 6,365 shares during the last quarter. TrueWealth Advisors LLC raised its position in shares of Innovative Industrial Properties by 15.3% in the 4th quarter. TrueWealth Advisors LLC now owns 27,657 shares of the company’s stock worth $1,843,000 after buying an additional 3,672 shares during the period. Empirical Asset Management LLC acquired a new position in Innovative Industrial Properties in the fourth quarter valued at $4,794,000. CWA Asset Management Group LLC grew its position in Innovative Industrial Properties by 25.7% during the fourth quarter. CWA Asset Management Group LLC now owns 6,661 shares of the company’s stock valued at $444,000 after acquiring an additional 1,363 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Innovative Industrial Properties by 17.5% during the third quarter. JPMorgan Chase & Co. now owns 237,206 shares of the company’s stock worth $31,928,000 after acquiring an additional 35,269 shares during the last quarter. 70.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Compass Point cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $78.00 in a report on Friday, December 20th. BTIG Research cut shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Roth Capital upgraded shares of Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Finally, Piper Sandler downgraded 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.50.

Innovative Industrial Properties Trading Up 1.2 %

NYSE IIPR opened at $68.12 on Friday. The stock has a market cap of $1.93 billion, a P/E ratio of 12.12 and a beta of 1.39. The company’s fifty day simple moving average is $86.03 and its 200-day simple moving average is $110.79. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.15. Innovative Industrial Properties, Inc. has a 52 week low of $62.45 and a 52 week high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The firm 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 firm earned $2.29 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities research analysts predict that Innovative Industrial Properties, Inc. will post 8.36 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.90 per share. The ex-dividend date was Tuesday, December 31st. This represents a $7.60 annualized dividend and a yield of 11.16%. Innovative Industrial Properties’s dividend payout ratio is presently 135.23%.

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.