1,747 Shares in Innovative Industrial Properties, Inc. (NYSE:IIPR) Purchased by MCF Advisors LLC

MCF Advisors LLC bought a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,747 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IIPR. USA Financial Formulas purchased a new stake in shares of Innovative Industrial Properties during the third quarter valued at $25,000. Blue Trust Inc. raised its position in Innovative Industrial Properties by 2,085.7% during the second quarter. Blue Trust Inc. now owns 459 shares of the company’s stock worth $48,000 after acquiring an additional 438 shares during the period. Signaturefd LLC lifted its stake in Innovative Industrial Properties by 42.3% in the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $55,000 after buying an additional 150 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Innovative Industrial Properties by 138.1% in the second quarter. Federated Hermes Inc. now owns 538 shares of the company’s stock valued at $59,000 after acquiring an additional 312 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Innovative Industrial Properties by 46.3% during the 3rd quarter. GAMMA Investing LLC now owns 632 shares of the company’s stock worth $85,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Trading Down 1.3 %

Shares of NYSE IIPR traded down $1.73 during midday trading on Friday, reaching $131.88. 79,361 shares of the stock were exchanged, compared to its average volume of 143,129. Innovative Industrial Properties, Inc. has a twelve month low of $69.08 and a twelve month high of $138.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 18.06 and a current ratio of 18.06. The stock has a market capitalization of $3.74 billion, a P/E ratio of 23.14 and a beta of 1.35. The company has a 50 day simple moving average of $129.15 and a 200 day simple moving average of $116.34.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Monday, August 5th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.64). The firm had revenue of $79.79 million for the quarter, compared to analyst estimates of $77.18 million. Innovative Industrial Properties had a return on equity of 8.50% and a net margin of 52.73%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $2.26 earnings per share. As a group, equities analysts expect that Innovative Industrial Properties, Inc. will post 8.47 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend was Monday, September 30th. Innovative Industrial Properties’s payout ratio is presently 133.33%.

Analyst Upgrades and Downgrades

IIPR has been the subject of a number of recent research reports. Roth Mkm increased their price objective on shares of Innovative Industrial Properties from $115.00 to $140.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Piper Sandler lifted their price objective on Innovative Industrial Properties from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, Wolfe Research upgraded Innovative Industrial Properties to a “hold” rating in a report on Monday, September 23rd.

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.