Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 4,212 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,161 shares of the company's stock after purchasing an additional 4,212 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of Innovative Industrial Properties worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC bought a new position in shares of Innovative Industrial Properties during the fourth quarter worth approximately $27,000. Loomis Sayles & Co. L P grew its position in 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 buying an additional 407 shares in the last quarter. Compass Financial Services Inc bought a new position in Innovative Industrial Properties during the 4th quarter worth $32,000. Smartleaf Asset Management LLC raised its holdings in Innovative Industrial Properties by 182.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the company's stock valued at $43,000 after acquiring an additional 417 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Innovative Industrial Properties during the 3rd quarter valued at $95,000. 70.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Innovative Industrial Properties

In other news, Director David Stecher sold 7,599 shares of the business'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 transaction of $536,109.45. Following the completion of the sale, the director now owns 1,346 shares in the company, valued at $94,960.30. The trade was a 84.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company's stock.

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Innovative Industrial Properties Trading Down 2.0 %

Shares of NYSE IIPR traded down $1.33 during midday trading on Friday, reaching $63.77. The stock had a trading volume of 358,937 shares, compared to its average volume of 249,812. The company's 50 day moving average price is $70.26 and its 200 day moving average price is $95.06. 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 twelve month low of $61.72 and a twelve month high of $138.35. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 11.53 and a beta of 1.49.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $2.22. The firm had revenue of $76.74 million for the quarter, compared to analysts' expectations of $76.21 million. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. As a group, sell-side analysts expect that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 11.92%. The ex-dividend date of this dividend is Monday, March 31st. Innovative Industrial Properties's dividend payout ratio (DPR) is currently 137.43%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Alliance Global Partners downgraded Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 23rd. Piper Sandler dropped their target price on shares of Innovative Industrial Properties from $70.00 to $60.00 and set an "underweight" rating for the company in a research report on Monday, March 17th. BTIG Research lowered shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research report on Monday, December 23rd. Compass Point cut their target price on Innovative Industrial Properties from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. Finally, JMP Securities reiterated a "market perform" rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Innovative Industrial Properties currently has an average rating of "Hold" and a consensus price target of $88.00.

Innovative Industrial Properties Company 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.