International Assets Investment Management LLC Makes New $14.95 Million Investment in Innovative Industrial Properties, Inc. (NYSE:IIPR)

International Assets Investment Management LLC bought a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 148,307 shares of the company’s stock, valued at approximately $14,952,000. International Assets Investment Management LLC owned about 0.53% of Innovative Industrial Properties as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. American Assets Capital Advisers LLC acquired a new stake in Innovative Industrial Properties in the 3rd quarter valued at about $7,347,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Innovative Industrial Properties by 187.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 108,195 shares of the company’s stock valued at $8,186,000 after purchasing an additional 70,612 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Innovative Industrial Properties by 118.3% during the third quarter. Oppenheimer & Co. Inc. now owns 74,483 shares of the company’s stock worth $5,635,000 after buying an additional 40,367 shares in the last quarter. Northern Trust Corp boosted its stake in Innovative Industrial Properties by 8.6% during the third quarter. Northern Trust Corp now owns 358,166 shares of the company’s stock worth $27,099,000 after buying an additional 28,403 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC purchased a new stake in Innovative Industrial Properties in the 3rd quarter valued at $1,384,000. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock opened at $109.48 on Friday. The firm has a market cap of $3.09 billion, a PE ratio of 18.97 and a beta of 1.48. The company has a quick ratio of 14.22, a current ratio of 14.22 and a debt-to-equity ratio of 0.16. Innovative Industrial Properties, Inc. has a 52 week low of $65.16 and a 52 week high of $111.71. The business’s fifty day simple moving average is $99.17 and its 200-day simple moving average is $91.92.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data 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). The company had revenue of $79.16 million during 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%. Equities analysts forecast that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $1.82 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $7.28 annualized dividend and a dividend yield of 6.65%. Innovative Industrial Properties’s dividend payout ratio is currently 126.17%.

Analyst Upgrades and Downgrades

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

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.