Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.01 Million Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 38.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,161 shares of the company’s stock after buying an additional 4,212 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.05% of Innovative Industrial Properties worth $1,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bogart Wealth LLC acquired a new stake in shares of Innovative Industrial Properties during the fourth quarter worth $27,000. Compass Financial Services Inc acquired a new position in shares of Innovative Industrial Properties during the 4th quarter worth about $32,000. Smartleaf Asset Management LLC increased its stake in shares of Innovative Industrial Properties by 182.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock valued at $43,000 after acquiring an additional 417 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Innovative Industrial Properties by 3,130.8% in the 3rd 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 period. Finally, Sierra Ocean LLC bought a new position in Innovative Industrial Properties during the 4th quarter worth approximately $77,000. 70.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IIPR has been the topic of a number of recent analyst reports. Alliance Global Partners cut shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 23rd. Compass Point reduced their target price on Innovative Industrial Properties from $78.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Piper Sandler dropped their price target on Innovative Industrial Properties from $70.00 to $60.00 and set an “underweight” rating on the stock in a research report on Monday, March 17th. Finally, JMP Securities reiterated a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have assigned 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 a consensus rating of “Hold” and an average target price of $88.00.

Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock opened at $64.88 on Thursday. 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 $1.84 billion, a price-to-earnings ratio of 11.73 and a beta of 1.49. Innovative Industrial Properties, Inc. has a one year low of $61.72 and a one year high of $138.35. The stock’s 50-day moving average is $70.39 and its 200-day moving average is $96.10.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. The firm had revenue of $76.74 million during the quarter, compared to the consensus estimate of $76.21 million. Equities analysts predict that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 11.71%. The ex-dividend date is Monday, March 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 137.43%.

Insider Buying and Selling at Innovative Industrial Properties

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $70.55, for a total value of $536,109.45. Following the completion of the transaction, the director now directly owns 1,346 shares in the company, valued at $94,960.30. This trade represents a 84.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s stock.

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.