Hsbc Holdings PLC Has $2.13 Million Stake in Innovative Industrial Properties, Inc. $IIPR

Hsbc Holdings PLC lifted its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,089 shares of the company’s stock after buying an additional 8,189 shares during the period. Hsbc Holdings PLC’s holdings in Innovative Industrial Properties were worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Innovative Industrial Properties by 229.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 288,056 shares of the company’s stock valued at $15,906,000 after acquiring an additional 200,652 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Innovative Industrial Properties by 1,131.0% during the 1st quarter. Millennium Management LLC now owns 157,509 shares of the company’s stock worth $8,520,000 after purchasing an additional 144,714 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Innovative Industrial Properties by 40.5% during the 2nd quarter. Invesco Ltd. now owns 382,133 shares of the company’s stock worth $21,101,000 after purchasing an additional 110,236 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Innovative Industrial Properties by 26.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 509,124 shares of the company’s stock worth $24,112,000 after purchasing an additional 105,569 shares during the period. Finally, Norges Bank bought a new position in shares of Innovative Industrial Properties in the fourth quarter worth $4,471,000. Institutional investors and hedge funds own 70.58% of the company’s stock.

Analysts Set New Price Targets

IIPR has been the subject of several recent analyst reports. Zacks Research cut shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Innovative Industrial Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $45.00.

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock traded up $1.36 during midday trading on Friday, reaching $64.39. The company’s stock had a trading volume of 347,756 shares, compared to its average volume of 362,458. The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.85 billion, a PE ratio of 16.47 and a beta of 1.39. Innovative Industrial Properties, Inc. has a 52 week low of $44.58 and a 52 week high of $64.55. The business has a 50-day moving average price of $59.03 and a 200-day moving average price of $53.62.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings results on Monday, May 4th. The company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.05). The company had revenue of $69.00 million during the quarter, compared to analyst estimates of $65.65 million. Innovative Industrial Properties had a net margin of 45.58% and a return on equity of 6.62%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.94 earnings per share. On average, sell-side analysts predict that Innovative Industrial Properties, Inc. will post 7.1 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $1.90 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $7.60 dividend on an annualized basis and a yield of 11.8%. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 194.37%.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.