Smartleaf Asset Management LLC Has $43,000 Stock Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Smartleaf Asset Management LLC increased its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 182.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 646 shares of the company’s stock after buying an additional 417 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Innovative Industrial Properties were worth $43,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bogart Wealth LLC bought a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $27,000. Compass Financial Services Inc acquired a new stake in Innovative Industrial Properties in the 4th quarter valued at approximately $32,000. Canton Hathaway LLC bought a new stake in Innovative Industrial Properties in the 3rd quarter valued at approximately $55,000. Loomis Sayles & Co. L P boosted its position in Innovative Industrial Properties by 3,130.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock worth $57,000 after acquiring an additional 407 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Innovative Industrial Properties by 75.3% during the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

Insider Buying and Selling at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $70.55, for a total value of $536,109.45. Following the transaction, the director now owns 1,346 shares in the company, valued at approximately $94,960.30. This represents a 84.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Innovative Industrial Properties Stock Up 0.7 %

NYSE:IIPR opened at $72.04 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. Innovative Industrial Properties, Inc. has a one year low of $62.45 and a one year high of $138.35. The firm’s 50 day simple moving average is $70.33 and its 200 day simple moving average is $100.72. The company has a market cap of $2.04 billion, a PE ratio of 13.03 and a beta of 1.49.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. The business had revenue of $76.74 million for the quarter, compared to analyst estimates of $76.21 million. On average, research analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 10.55%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s payout ratio is presently 137.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IIPR shares. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. Compass Point cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $78.00 in a report on Friday, December 20th. Roth Mkm lowered their price objective on Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $118.00 to $70.00 in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Innovative Industrial Properties currently has an average rating of “Hold” and a consensus target price of $102.00.

Innovative Industrial Properties 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.