45,516 Shares in Innovative Industrial Properties, Inc. (NYSE:IIPR) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 45,516 shares of the company’s stock, valued at approximately $3,033,000. Y Intercept Hong Kong Ltd owned approximately 0.16% of Innovative Industrial Properties as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IIPR. US Bancorp DE raised its position in shares of 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 acquiring an additional 189 shares in the last quarter. Baader Bank Aktiengesellschaft increased its stake in Innovative Industrial Properties by 3.6% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock valued at $378,000 after purchasing an additional 200 shares during the last quarter. KBC Group NV raised its holdings in Innovative Industrial Properties by 28.2% during the third quarter. KBC Group NV now owns 940 shares of the company’s stock worth $127,000 after purchasing an additional 207 shares in the last quarter. Captrust Financial Advisors raised its holdings in Innovative Industrial Properties by 11.6% during the third quarter. Captrust Financial Advisors now owns 2,050 shares of the company’s stock worth $276,000 after purchasing an additional 213 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of Innovative Industrial Properties by 1.0% in the 3rd quarter. Penserra Capital Management LLC now owns 26,672 shares of the company’s stock valued at $3,589,000 after buying an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler cut shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $118.00 to $70.00 in a research report on Friday, December 20th. BTIG Research downgraded Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Alliance Global Partners downgraded Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Finally, Roth Mkm decreased their price objective on Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Innovative Industrial Properties Stock Performance

NYSE:IIPR opened at $73.20 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 13.24 and a beta of 1.40. The firm’s fifty day moving average price is $71.60 and its 200 day moving average price is $103.96. Innovative Industrial Properties, Inc. has a 1-year low of $62.45 and a 1-year high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. The company had revenue of $76.74 million during the quarter, compared to analysts’ expectations of $76.21 million. On average, sell-side analysts expect that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Announces Dividend

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 $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 10.38%. The ex-dividend date of this dividend was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio is presently 137.43%.

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.