Atria Wealth Solutions Inc. Makes New $245,000 Investment in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Atria Wealth Solutions Inc. acquired a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,419 shares of the company’s stock, valued at approximately $245,000.

A number of other large investors have also recently bought and sold shares of IIPR. GAMMA Investing LLC bought a new position in Innovative Industrial Properties in the 4th quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in Innovative Industrial Properties in the 3rd quarter valued at approximately $25,000. FNY Investment Advisers LLC bought a new stake in Innovative Industrial Properties during the 4th quarter valued at $40,000. Independence Bank of Kentucky increased its holdings in shares of 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 during the period. Finally, Headinvest LLC acquired a new stake in Innovative Industrial Properties in the third quarter worth about $62,000. Institutional investors own 70.58% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their target price on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.67.

Innovative Industrial Properties Stock Down 2.6 %

IIPR opened at $104.91 on Friday. The stock’s fifty day moving average is $100.15 and its 200-day moving average is $92.70. Innovative Industrial Properties, Inc. has a one year low of $65.16 and a one year high of $111.71. The company has a market capitalization of $2.96 billion, a PE ratio of 18.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 14.22 and a current ratio of 14.22.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Monday, February 26th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.62). The business had revenue of $79.16 million during the quarter, compared to the consensus estimate of $76.55 million. Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. On average, equities analysts predict 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. The ex-dividend date was Wednesday, March 27th. This represents a $7.28 annualized dividend and a yield of 6.94%. Innovative Industrial Properties’s dividend payout ratio (DPR) is 126.17%.

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.