Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $116.32 and last traded at $116.06, with a volume of 4853 shares traded. The stock had previously closed at $114.74.
Innovative Industrial Properties Stock Performance
The company has a current ratio of 14.27, a quick ratio of 14.27 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $108.69 and its 200-day moving average is $100.94. The company has a market capitalization of $3.33 billion, a P/E ratio of 20.12 and a beta of 1.37.
Innovative Industrial Properties (NYSE:IIPR – Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.74). The business had revenue of $75.45 million during the quarter, compared to the consensus estimate of $79.65 million. Innovative Industrial Properties had a return on equity of 8.46% and a net margin of 53.07%. Equities analysts anticipate that Innovative Industrial Properties, Inc. will post 8.5 EPS for the current fiscal year.
Innovative Industrial Properties Increases Dividend
Institutional Trading of Innovative Industrial Properties
A number of institutional investors and hedge funds have recently bought and sold shares of IIPR. GAMMA Investing LLC purchased a new position in shares of Innovative Industrial Properties in the fourth quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Innovative Industrial Properties in the fourth quarter worth approximately $30,000. FNY Investment Advisers LLC purchased a new position in Innovative Industrial Properties during the fourth quarter valued at approximately $40,000. Independence Bank of Kentucky lifted its holdings in Innovative Industrial Properties by 82.9% during the fourth quarter. Independence Bank of Kentucky now owns 640 shares of the company’s stock valued at $65,000 after purchasing an additional 290 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Innovative Industrial Properties by 251.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 723 shares of the company’s stock valued at $73,000 after purchasing an additional 517 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors.
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.
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