Capital Fund Management S.A. Buys Shares of 22,234 Innovative Industrial Properties, Inc. (NYSE:IIPR)

Capital Fund Management S.A. purchased a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) during the fourth quarter, Holdings Channel reports. The fund purchased 22,234 shares of the company’s stock, valued at approximately $1,482,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Roberts Glore & Co. Inc. IL raised its holdings in Innovative Industrial Properties by 4.6% during the fourth quarter. Roberts Glore & Co. Inc. IL now owns 3,920 shares of the company’s stock valued at $261,000 after buying an additional 172 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Innovative Industrial Properties by 2.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 9,543 shares of the company’s stock valued at $636,000 after buying an additional 192 shares during the last quarter. Baader Bank Aktiengesellschaft raised its holdings in Innovative Industrial Properties by 3.6% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock worth $378,000 after acquiring an additional 200 shares during the period. American Century Companies Inc. boosted its holdings in Innovative Industrial Properties by 1.7% during the fourth quarter. American Century Companies Inc. now owns 16,158 shares of the company’s stock valued at $1,077,000 after acquiring an additional 270 shares during the period. Finally, Principal Securities Inc. increased its stake in shares of Innovative Industrial Properties by 31.1% in the fourth quarter. Principal Securities Inc. now owns 1,192 shares of the company’s stock worth $79,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Trading Down 0.6 %

IIPR stock opened at $50.52 on Wednesday. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.43 billion, a P/E ratio of 9.13 and a beta of 1.59. Innovative Industrial Properties, Inc. has a 1-year low of $45.44 and a 1-year high of $138.35. The business’s 50 day moving average is $65.08 and its 200-day moving average is $87.60.

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

Innovative Industrial Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $1.90 per share. The ex-dividend date was Monday, March 31st. This represents a $7.60 annualized dividend and a yield of 15.04%. Innovative Industrial Properties’s dividend payout ratio is 137.43%.

Analysts Set New Price Targets

A number of research firms have issued reports on IIPR. Compass Point reaffirmed a “sell” rating and issued a $50.00 target price (down previously from $60.00) on shares of Innovative Industrial Properties in a report on Monday, March 31st. Alliance Global Partners downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. Industrial Alliance Securities reaffirmed a “neutral” rating on shares of Innovative Industrial Properties in a research report on Tuesday, April 1st. Roth Mkm decreased their target price 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, BTIG Research lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Two research analysts have rated the stock with a sell rating, five have assigned 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, the stock currently has a consensus rating of “Hold” and an average target price of $83.00.

Insider Activity

In related news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $70.55, for a total value of $536,109.45. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by corporate 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.