Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by LSV Asset Management

LSV Asset Management increased its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 9.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,173 shares of the company’s stock after purchasing an additional 4,073 shares during the period. LSV Asset Management owned 0.16% of Innovative Industrial Properties worth $4,554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IIPR. Charles Schwab Investment Management Inc. boosted its holdings in shares of Innovative Industrial Properties by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 363,500 shares of the company’s stock valued at $27,502,000 after buying an additional 12,026 shares during the period. Northern Trust Corp lifted its holdings in shares of Innovative Industrial Properties by 8.6% in the 3rd quarter. Northern Trust Corp now owns 358,166 shares of the company’s stock worth $27,099,000 after purchasing an additional 28,403 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Innovative Industrial Properties during the 4th quarter valued at approximately $14,952,000. Schonfeld Strategic Advisors LLC grew its stake in Innovative Industrial Properties by 187.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 108,195 shares of the company’s stock worth $8,186,000 after buying an additional 70,612 shares during the last quarter. Finally, American Assets Capital Advisers LLC acquired a new stake in Innovative Industrial Properties in the third quarter worth $7,347,000. 70.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Innovative Industrial Properties Trading Down 1.6 %

Innovative Industrial Properties stock opened at $107.69 on Thursday. Innovative Industrial Properties, Inc. has a 12-month low of $65.16 and a 12-month high of $111.71. The stock has a market capitalization of $3.04 billion, a PE ratio of 18.66 and a beta of 1.48. The firm has a 50 day simple moving average of $100.01 and a 200-day simple moving average of $92.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22.

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 analysts’ consensus estimates of $2.07 by ($0.62). The firm had revenue of $79.16 million for the quarter, compared to the consensus estimate of $76.55 million. Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. As a group, equities research analysts expect that Innovative Industrial Properties, Inc. will post 8.49 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 6.76%. The ex-dividend date was Wednesday, March 27th. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 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.