Mutual Advisors LLC Sells 539 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Mutual Advisors LLC decreased its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,507 shares of the company’s stock after selling 539 shares during the period. Mutual Advisors LLC’s holdings in Innovative Industrial Properties were worth $454,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Innovative Industrial Properties during the third quarter valued at $25,000. Lazard Asset Management LLC raised its position in Innovative Industrial Properties by 112.9% during the first quarter. Lazard Asset Management LLC now owns 396 shares of the company’s stock valued at $81,000 after purchasing an additional 210 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Innovative Industrial Properties during the fourth quarter valued at about $40,000. Centaurus Financial Inc. raised its position in Innovative Industrial Properties by 61.4% during the first quarter. Centaurus Financial Inc. now owns 649 shares of the company’s stock valued at $133,000 after purchasing an additional 247 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Innovative Industrial Properties in the first quarter worth about $361,000. Institutional investors own 70.58% of the company’s stock.

Analysts Set New Price Targets

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

Innovative Industrial Properties Stock Down 0.8 %

Shares of NYSE:IIPR opened at $103.54 on Friday. Innovative Industrial Properties, Inc. has a 1 year low of $63.36 and a 1 year high of $105.81. The company has a market cap of $2.92 billion, a PE ratio of 17.94 and a beta of 1.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. The stock’s 50-day moving average is $95.47 and its 200 day moving average is $88.13.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Monday, February 26th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.62). The business had revenue of $79.16 million for the quarter, compared to analysts’ expectations of $76.55 million. Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. Sell-side analysts anticipate that Innovative Industrial Properties, Inc. will post 8.35 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a $1.82 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $7.28 dividend on an annualized basis and a dividend yield of 7.03%. Innovative Industrial Properties’s dividend payout ratio is currently 126.17%.

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.