Future Financial Wealth Managment LLC Invests $104,000 in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Future Financial Wealth Managment LLC acquired a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,000 shares of the company’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in Innovative Industrial Properties in the 4th quarter valued at about $946,000. Klein Pavlis & Peasley Financial Inc. acquired a new position in Innovative Industrial Properties during the fourth quarter worth approximately $1,472,000. Chesapeake Capital Corp IL acquired a new position in Innovative Industrial Properties during the fourth quarter worth approximately $854,000. Pinebridge Investments L.P. acquired a new position in Innovative Industrial Properties during the fourth quarter worth approximately $763,000. Finally, International Assets Investment Management LLC purchased a new position in Innovative Industrial Properties during the fourth quarter worth approximately $14,952,000. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Trading Up 1.0 %

Shares of IIPR stock opened at $110.01 on Friday. The company has a quick ratio of 14.27, a current ratio of 14.27 and a debt-to-equity ratio of 0.15. Innovative Industrial Properties, Inc. has a fifty-two week low of $69.08 and a fifty-two week high of $115.75. The firm’s 50 day moving average price is $106.84 and its two-hundred day moving average price is $100.05. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 19.30 and a beta of 1.51.

Innovative Industrial Properties (NYSE:IIPR) last issued its earnings results on Wednesday, May 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.74). Innovative Industrial Properties had a net margin of 53.07% and a return on equity of 8.46%. The business had revenue of $75.45 million during the quarter, compared to analysts’ expectations of $79.65 million. On average, analysts anticipate that Innovative Industrial Properties, Inc. will post 8.5 EPS for the current year.

Innovative Industrial Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Thursday, June 27th. This is a boost from Innovative Industrial Properties’s previous quarterly dividend of $1.82. Innovative Industrial Properties’s payout ratio is currently 127.72%.

Analyst Ratings Changes

Separately, Piper Sandler upped 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.

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.