Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 14.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,504 shares of the company’s stock after acquiring an additional 6,618 shares during the period. Wedge Capital Management L L P NC owned 0.19% of Innovative Industrial Properties worth $5,293,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Investors Research Corp boosted its holdings in Innovative Industrial Properties by 2.6% in the fourth quarter. Investors Research Corp now owns 5,000 shares of the company’s stock worth $504,000 after purchasing an additional 125 shares during the period. Van ECK Associates Corp raised its stake in Innovative Industrial Properties by 4.3% during the third quarter. Van ECK Associates Corp now owns 3,271 shares of the company’s stock worth $247,000 after acquiring an additional 136 shares during the period. Detalus Advisors LLC boosted its stake in Innovative Industrial Properties by 3.5% in the third quarter. Detalus Advisors LLC now owns 4,132 shares of the company’s stock valued at $313,000 after acquiring an additional 140 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Innovative Industrial Properties by 0.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 18,123 shares of the company’s stock valued at $1,827,000 after purchasing an additional 144 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Innovative Industrial Properties by 2.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,898 shares of the company’s stock worth $673,000 after purchasing an additional 207 shares during the period. 70.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IIPR. Piper Sandler upped their price objective on Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. TheStreet upgraded shares of Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research report on Wednesday, January 10th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.67.

Innovative Industrial Properties Trading Up 2.1 %

Shares of NYSE:IIPR opened at $98.56 on Wednesday. Innovative Industrial Properties, Inc. has a twelve month low of $63.36 and a twelve month high of $105.81. The company has a current ratio of 14.22, a quick ratio of 14.22 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.78 billion, a P/E ratio of 17.08 and a beta of 1.49. The company has a 50 day moving average of $97.19 and a 200-day moving average of $90.38.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Monday, February 26th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.62). Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. The firm had revenue of $79.16 million for the quarter, compared to analyst estimates of $76.55 million. As a group, analysts anticipate that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date was Wednesday, March 27th. Innovative Industrial Properties’s payout ratio is 126.17%.

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.