Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by Barclays PLC

Barclays PLC increased its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 187.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,988 shares of the company's stock after purchasing an additional 31,295 shares during the quarter. Barclays PLC owned approximately 0.17% of Innovative Industrial Properties worth $6,459,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in shares of Innovative Industrial Properties in the 3rd quarter valued at about $25,000. Canton Hathaway LLC purchased a new stake in Innovative Industrial Properties in the third quarter valued at approximately $55,000. Loomis Sayles & Co. L P grew its position in shares of Innovative Industrial Properties by 3,130.8% during the third quarter. Loomis Sayles & Co. L P now owns 420 shares of the company's stock worth $57,000 after acquiring an additional 407 shares during the last quarter. US Bancorp DE increased its holdings in shares of Innovative Industrial Properties by 75.3% in 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 during the period. Finally, Blue Trust Inc. increased its holdings in shares of Innovative Industrial Properties by 2,085.7% in the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company's stock valued at $48,000 after acquiring an additional 438 shares during the period. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IIPR. Piper Sandler cut shares of Innovative Industrial Properties from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $118.00 to $70.00 in a report on Friday. JMP Securities reiterated a "market perform" rating on shares of Innovative Industrial Properties in a research report on Monday. Roth Capital raised shares of Innovative Industrial Properties to a "strong-buy" rating in a research note on Monday, November 11th. Alliance Global Partners assumed coverage on shares of Innovative Industrial Properties in a research note on Tuesday. They issued a "buy" rating and a $130.00 target price for the company. Finally, Compass Point lowered shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $125.00 to $78.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Innovative Industrial Properties currently has an average rating of "Hold" and an average target price of $104.50.

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock traded down $21.68 during midday trading on Friday, reaching $73.66. The company's stock had a trading volume of 3,142,665 shares, compared to its average volume of 215,873. The firm has a market capitalization of $2.09 billion, a PE ratio of 13.11 and a beta of 1.30. Innovative Industrial Properties, Inc. has a fifty-two week low of $70.88 and a fifty-two week high of $138.35. The stock's 50 day simple moving average is $115.55 and its 200 day simple moving average is $118.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.76). Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. The company had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. During the same quarter last year, the business earned $2.29 EPS. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 10.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Innovative Industrial Properties's payout ratio is currently 135.23%.

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.