Roberts Glore & Co. Inc. IL Purchases 172 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Roberts Glore & Co. Inc. IL increased its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,920 shares of the company’s stock after acquiring an additional 172 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in Innovative Industrial Properties were worth $261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE boosted 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 acquiring an additional 189 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its stake in Innovative Industrial Properties by 3.6% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock worth $378,000 after acquiring an additional 200 shares during the last quarter. KBC Group NV boosted its stake in Innovative Industrial Properties by 28.2% during the 3rd quarter. KBC Group NV now owns 940 shares of the company’s stock worth $127,000 after acquiring an additional 207 shares during the last quarter. Captrust Financial Advisors boosted its stake in Innovative Industrial Properties by 11.6% during the 3rd quarter. Captrust Financial Advisors now owns 2,050 shares of the company’s stock worth $276,000 after acquiring an additional 213 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in Innovative Industrial Properties by 1.0% during the 3rd quarter. Penserra Capital Management LLC now owns 26,672 shares of the company’s stock worth $3,589,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 70.58% of the company’s stock.

Analysts Set New Price Targets

IIPR has been the topic of a number of research reports. Roth Mkm cut their price target on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and cut their price target for the company from $118.00 to $70.00 in a research note on Friday, December 20th. Compass Point lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $78.00 in a research note on Friday, December 20th. 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Innovative Industrial Properties currently has an average rating of “Hold” and an average price target of $102.00.

Insider Activity

In related news, Director David Stecher sold 7,599 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the transaction, the director now directly owns 1,346 shares in the company, valued at approximately $94,960.30. The trade was a 84.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Innovative Industrial Properties Price Performance

NYSE IIPR opened at $73.23 on Friday. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16. Innovative Industrial Properties, Inc. has a 12-month low of $62.45 and a 12-month high of $138.35. The company has a market capitalization of $2.07 billion, a PE ratio of 13.24 and a beta of 1.49. The firm’s 50 day moving average is $70.25 and its 200-day moving average is $101.34.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $76.21 million. Equities research analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.90 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 10.38%. Innovative Industrial Properties’s dividend payout ratio (DPR) 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.