Charles Schwab Investment Management Inc. Has $30.96 Million Stock Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Charles Schwab Investment Management Inc. grew its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 464,553 shares of the company’s stock after purchasing an additional 7,179 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.64% of Innovative Industrial Properties worth $30,958,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IIPR. US Bancorp DE lifted its stake in shares of Innovative Industrial Properties by 75.3% in the third quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after acquiring an additional 189 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Innovative Industrial Properties by 21.8% in the third quarter. Crossmark Global Holdings Inc. now owns 2,539 shares of the company’s stock worth $341,000 after acquiring an additional 454 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Innovative Industrial Properties by 23.4% in the third quarter. Victory Capital Management Inc. now owns 36,784 shares of the company’s stock worth $4,951,000 after acquiring an additional 6,977 shares during the period. KBC Group NV lifted its stake in shares of Innovative Industrial Properties by 28.2% in the third quarter. KBC Group NV now owns 940 shares of the company’s stock worth $127,000 after acquiring an additional 207 shares during the period. Finally, Metis Global Partners LLC lifted its stake in shares of Innovative Industrial Properties by 29.6% in the third quarter. Metis Global Partners LLC now owns 2,917 shares of the company’s stock worth $393,000 after acquiring an additional 667 shares during the period. 70.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IIPR has been the subject of a number of research analyst reports. Roth Mkm lowered their target price on Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 21st. Alliance Global Partners downgraded Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. Compass Point downgraded Innovative Industrial Properties from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $125.00 to $78.00 in a report on Friday, December 20th. JMP Securities reiterated a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. Finally, Piper Sandler downgraded Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $118.00 to $70.00 in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $102.00.

Innovative Industrial Properties Trading Up 2.1 %

NYSE IIPR opened at $69.64 on Monday. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 12.59 and a beta of 1.49. Innovative Industrial Properties, Inc. has a 52 week low of $62.45 and a 52 week high of $138.35. The business has a 50 day moving average price of $70.56 and a 200-day moving average price of $99.19. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. The firm had revenue of $76.74 million during the quarter, compared to the consensus estimate of $76.21 million. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. As a group, equities analysts expect that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.90 per share. The ex-dividend date is Monday, March 31st. This represents a $7.60 annualized dividend and a dividend yield of 10.91%. Innovative Industrial Properties’s dividend payout ratio is 137.43%.

Insider Activity at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $70.55, for a total transaction of $536,109.45. Following the transaction, the director now owns 1,346 shares of the company’s stock, valued at $94,960.30. The trade was a 84.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by insiders.

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.