Bokf Na Buys 1,002 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Bokf Na lifted its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 49.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,015 shares of the company’s stock after acquiring an additional 1,002 shares during the period. Bokf Na’s holdings in Innovative Industrial Properties were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Innovative Industrial Properties by 2,085.7% in the second quarter. Blue Trust Inc. now owns 459 shares of the company’s stock worth $48,000 after purchasing an additional 438 shares in the last quarter. Signaturefd LLC lifted its position in Innovative Industrial Properties by 42.3% during the second quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $55,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC boosted its stake in Innovative Industrial Properties by 84.9% in the first quarter. GAMMA Investing LLC now owns 525 shares of the company’s stock valued at $54,000 after acquiring an additional 241 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Innovative Industrial Properties by 251.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 723 shares of the company’s stock worth $73,000 after purchasing an additional 517 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in shares of Innovative Industrial Properties during the first quarter worth $80,000. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on IIPR. Roth Mkm raised their price objective on Innovative Industrial Properties from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Piper Sandler raised their price target on Innovative Industrial Properties from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 9th.

Innovative Industrial Properties Trading Up 2.8 %

NYSE IIPR opened at $132.83 on Tuesday. Innovative Industrial Properties, Inc. has a 12-month low of $69.08 and a 12-month high of $132.91. The company has a fifty day simple moving average of $120.34 and a two-hundred day simple moving average of $109.77. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.76 billion, a P/E ratio of 23.30 and a beta of 1.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.64). The firm had revenue of $79.79 million for the quarter, compared to analyst estimates of $77.18 million. Innovative Industrial Properties had a return on equity of 8.50% and a net margin of 52.73%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. On average, analysts forecast that Innovative Industrial Properties, Inc. will post 8.41 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $1.90 dividend. The ex-dividend date is Monday, September 30th. This represents a $7.60 annualized dividend and a yield of 5.72%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 133.33%.

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.