Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,816 shares of the company’s stock after buying an additional 1,484 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Innovative Industrial Properties worth $2,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compass Financial Services Inc acquired a new position in Innovative Industrial Properties during the fourth quarter valued at $32,000. Canton Hathaway LLC purchased a new stake in shares of Innovative Industrial Properties during the third quarter worth about $55,000. Loomis Sayles & Co. L P grew its stake 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 valued at $57,000 after acquiring an additional 407 shares in the last quarter. US Bancorp DE grew its stake in Innovative Industrial Properties by 75.3% during the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock valued at $59,000 after acquiring an additional 189 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Innovative Industrial Properties by 37.1% in the 4th quarter. KBC Group NV now owns 1,289 shares of the company’s stock valued at $86,000 after purchasing an additional 349 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IIPR has been the topic of several recent analyst reports. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Alliance Global Partners downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. Piper Sandler downgraded shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $118.00 to $70.00 in a research report on Friday, December 20th. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Compass Point downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $78.00 in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.50.

Innovative Industrial Properties Trading Down 0.7 %

NYSE IIPR opened at $73.41 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53. The firm’s fifty day moving average price is $73.43 and its 200 day moving average price is $104.88. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 13.06 and a beta of 1.40. Innovative Industrial Properties, Inc. has a 12 month low of $62.45 and a 12 month high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. On average, sell-side analysts expect that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 10.35%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio is currently 135.23%.

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.