Cambiar Investors LLC raised its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 370.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,284 shares of the company's stock after buying an additional 85,244 shares during the period. Cambiar Investors LLC owned approximately 0.38% of Innovative Industrial Properties worth $7,216,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bristlecone Advisors LLC boosted its position in Innovative Industrial Properties by 4.6% in the 4th quarter. Bristlecone Advisors LLC now owns 13,177 shares of the company's stock valued at $878,000 after buying an additional 577 shares during the period. Compass Financial Services Inc purchased a new position in Innovative Industrial Properties in the 4th quarter valued at approximately $32,000. Baader Bank Aktiengesellschaft lifted its position 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 purchasing an additional 200 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Innovative Industrial Properties during the 4th quarter worth $42,006,000. Finally, KBC Group NV lifted its position in shares of Innovative Industrial Properties by 37.1% during the 4th quarter. KBC Group NV now owns 1,289 shares of the company's stock worth $86,000 after purchasing an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 70.58% of the company's stock.
Innovative Industrial Properties Stock Down 1.9 %
NYSE:IIPR traded down $1.40 during midday trading on Friday, hitting $73.17. 166,436 shares of the company were exchanged, compared to its average volume of 277,241. The company has a fifty day simple moving average of $75.38 and a 200 day simple moving average of $106.00. Innovative Industrial Properties, Inc. has a fifty-two week low of $62.45 and a fifty-two week high of $138.35. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.07 billion, a PE ratio of 13.02 and a beta of 1.40.
Innovative Industrial Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid 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 yield of 10.39%. Innovative Industrial Properties's dividend payout ratio is presently 135.23%.
Analyst Ratings Changes
Several research firms have recently issued reports on IIPR. Roth Capital raised shares of Innovative Industrial Properties to a "strong-buy" rating in a research report on Monday, November 11th. JMP Securities reaffirmed a "market perform" rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Alliance Global Partners cut shares of Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 23rd. Piper Sandler cut shares of Innovative Industrial Properties from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $118.00 to $70.00 in a research report on Friday, December 20th. Finally, Compass Point lowered shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating and cut their price target for the stock from $125.00 to $78.00 in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $104.50.
View Our Latest Research Report on Innovative Industrial Properties
Innovative Industrial Properties Profile
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Free Report)
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.
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