Capital Fund Management S.A. Makes New $1.48 Million Investment in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Capital Fund Management S.A. bought a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,234 shares of the company's stock, valued at approximately $1,482,000. Capital Fund Management S.A. owned approximately 0.08% of Innovative Industrial Properties at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in Innovative Industrial Properties during the fourth quarter worth $42,006,000. Norges Bank bought a new position in shares of Innovative Industrial Properties during the 4th quarter worth $22,635,000. Cambiar Investors LLC raised its holdings in Innovative Industrial Properties by 370.0% during the 4th quarter. Cambiar Investors LLC now owns 108,284 shares of the company's stock valued at $7,216,000 after acquiring an additional 85,244 shares during the period. Bank of New York Mellon Corp grew its stake in Innovative Industrial Properties by 25.8% during the fourth quarter. Bank of New York Mellon Corp now owns 378,644 shares of the company's stock valued at $25,233,000 after acquiring an additional 77,552 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new position in Innovative Industrial Properties in the 4th quarter worth about $4,794,000. Institutional investors own 70.58% of the company's stock.

Innovative Industrial Properties Price Performance

IIPR stock traded up $0.54 during mid-day trading on Friday, reaching $51.50. 194,685 shares of the company's stock were exchanged, compared to its average volume of 270,653. Innovative Industrial Properties, Inc. has a 12-month low of $45.44 and a 12-month high of $138.35. The stock's 50 day moving average is $64.18 and its 200 day moving average is $86.78. 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 company has a market cap of $1.46 billion, a price-to-earnings ratio of 9.31 and a beta of 1.59.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.22. The firm had revenue of $76.74 million during the quarter, compared to analysts' expectations of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. On average, research analysts expect that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 14.76%. The ex-dividend date was Monday, March 31st. Innovative Industrial Properties's dividend payout ratio is currently 137.43%.

Analysts Set New Price Targets

Several analysts have issued reports on IIPR shares. Roth Mkm cut their price target on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Industrial Alliance Securities reaffirmed a "neutral" rating on shares of Innovative Industrial Properties in a research report on Tuesday, April 1st. BTIG Research cut Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a report on Monday, December 23rd. Compass Point restated a "sell" rating and issued a $50.00 price target (down previously from $60.00) on shares of Innovative Industrial Properties in a research report on Monday, March 31st. Finally, Piper Sandler dropped their price target on Innovative Industrial Properties from $55.00 to $45.00 and set an "underweight" rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $83.00.

Insider Activity at Innovative Industrial Properties

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $70.55, for a total value of $536,109.45. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

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.