Charles Schwab Investment Management Inc. Purchases 7,179 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Charles Schwab Investment Management Inc. raised its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,553 shares of the company's stock after purchasing an additional 7,179 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.64% of Innovative Industrial Properties worth $30,958,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp grew its holdings in shares of Innovative Industrial Properties by 28.7% during the fourth quarter. Jones Financial Companies Lllp now owns 5,127 shares of the company's stock valued at $342,000 after buying an additional 1,143 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Innovative Industrial Properties by 182.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the company's stock worth $43,000 after purchasing an additional 417 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Innovative Industrial Properties by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 3,249 shares of the company's stock worth $217,000 after purchasing an additional 332 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Innovative Industrial Properties by 12,793.9% in the fourth quarter. US Bancorp DE now owns 56,733 shares of the company's stock valued at $3,781,000 after purchasing an additional 56,293 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Innovative Industrial Properties by 34.7% during the fourth quarter. QRG Capital Management Inc. now owns 5,939 shares of the company's stock valued at $396,000 after buying an additional 1,529 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company's stock.

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Innovative Industrial Properties Stock Performance

NYSE IIPR traded down $0.54 on Thursday, hitting $63.33. 217,768 shares of the stock traded hands, compared to its average volume of 240,409. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 11.47 and a beta of 1.49. The business's fifty day moving average is $70.45 and its two-hundred day moving average is $98.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. Innovative Industrial Properties, Inc. has a 12 month low of $62.45 and a 12 month high of $138.35.

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, hitting the consensus estimate of $2.22. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. The company had revenue of $76.74 million during the quarter, compared to the consensus estimate of $76.21 million. As a group, equities analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.90 dividend. The ex-dividend date is Monday, March 31st. This represents a $7.60 dividend on an annualized basis and a yield of 12.00%. Innovative Industrial Properties's dividend payout ratio is 137.43%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Compass Point dropped their price objective on Innovative Industrial Properties from $78.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday. Piper Sandler dropped their price target on shares of Innovative Industrial Properties from $70.00 to $60.00 and set an "underweight" rating on the stock in a research report on Monday. JMP Securities reaffirmed a "market perform" rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Roth Mkm dropped their target price on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Finally, Industrial Alliance Securities set a $60.00 target price on Innovative Industrial Properties in a research note on Tuesday. One equities research analyst has 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $88.00.

Insider Activity at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of the stock in a transaction 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 sale, the director now owns 1,346 shares in the company, valued at approximately $94,960.30. This trade represents a 84.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Innovative Industrial Properties Profile

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.