Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 25.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,766 shares of the company’s stock after acquiring an additional 4,059 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.07% of Innovative Industrial Properties worth $1,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its holdings 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 purchasing an additional 189 shares during the last quarter. Baader Bank Aktiengesellschaft raised its position in Innovative Industrial Properties by 3.6% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock valued at $378,000 after purchasing an additional 200 shares during the period. KBC Group NV lifted its stake in Innovative Industrial Properties by 28.2% during the third quarter. KBC Group NV now owns 940 shares of the company’s stock worth $127,000 after purchasing an additional 207 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Innovative Industrial Properties by 11.6% during the 3rd quarter. Captrust Financial Advisors now owns 2,050 shares of the company’s stock valued at $276,000 after acquiring an additional 213 shares during the period. Finally, Penserra Capital Management LLC increased its stake in Innovative Industrial Properties by 1.0% during the 3rd quarter. Penserra Capital Management LLC now owns 26,672 shares of the company’s stock worth $3,589,000 after buying an additional 272 shares during the period. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties Stock Up 1.1 %

Shares of NYSE IIPR opened at $73.98 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 12-month low of $62.45 and a 12-month high of $138.35. The company has a market capitalization of $2.10 billion, a PE ratio of 13.38 and a beta of 1.40. The firm’s 50-day moving average is $71.05 and its two-hundred day moving average is $103.66.

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

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $1.90 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 10.27%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 137.43%.

Analyst Upgrades and Downgrades

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

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.