33,000 Shares in Innovative Industrial Properties, Inc. (NYSE:IIPR) Bought by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC bought a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 33,000 shares of the company's stock, valued at approximately $2,199,000. Quinn Opportunity Partners LLC owned 0.12% of Innovative Industrial Properties at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Roberts Glore & Co. Inc. IL boosted its position 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 worth $261,000 after purchasing an additional 172 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Innovative Industrial Properties by 2.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 9,543 shares of the company's stock worth $636,000 after buying an additional 192 shares during the period. Baader Bank Aktiengesellschaft boosted its holdings in shares of Innovative Industrial Properties by 3.6% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company's stock worth $378,000 after buying an additional 200 shares during the period. Captrust Financial Advisors grew its stake in Innovative Industrial Properties by 11.6% in the 3rd quarter. Captrust Financial Advisors now owns 2,050 shares of the company's stock valued at $276,000 after buying an additional 213 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Innovative Industrial Properties by 1.7% in the 4th 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. 70.58% of the stock is owned by institutional investors and hedge funds.

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Innovative Industrial Properties Price Performance

NYSE:IIPR traded up $0.51 during trading hours on Wednesday, hitting $50.99. The company's stock had a trading volume of 216,529 shares, compared to its average volume of 381,207. Innovative Industrial Properties, Inc. has a twelve month low of $45.44 and a twelve month high of $138.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. The stock has a fifty day simple moving average of $65.08 and a 200-day simple moving average of $87.60. The company has a market capitalization of $1.44 billion, a P/E ratio of 9.22 and a beta of 1.59.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, meeting analysts' consensus estimates of $2.22. The company had revenue of $76.74 million for the quarter, compared to the consensus estimate of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. On average, 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 Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $1.90 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $7.60 annualized dividend and a dividend yield of 14.90%. Innovative Industrial Properties's dividend payout ratio (DPR) is presently 137.43%.

Insider Activity

In other news, Director David Stecher sold 7,599 shares of the company's stock in a transaction that occurred on 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 owns 1,346 shares of the company's stock, valued at $94,960.30. This represents a 84.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Alliance Global Partners downgraded Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 23rd. Piper Sandler dropped their target price on Innovative Industrial Properties from $55.00 to $45.00 and set an "underweight" rating for the company in a report on Tuesday. BTIG Research downgraded shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research note on Monday, December 23rd. Compass Point restated a "sell" rating and set a $50.00 price objective (down previously from $60.00) on shares of Innovative Industrial Properties in a research note on Monday, March 31st. Finally, Industrial Alliance Securities reiterated a "neutral" rating on shares of Innovative Industrial Properties in a research note on Tuesday, April 1st. Two equities 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $83.00.

About Innovative Industrial Properties

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.