Innovative Industrial Properties, Inc. (NYSE:IIPR) Short Interest Down 9.6% in January

Innovative Industrial Properties, Inc. (NYSE:IIPR - Get Free Report) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,320,000 shares, a decrease of 9.6% from the January 15th total of 1,460,000 shares. Based on an average daily volume of 364,100 shares, the short-interest ratio is currently 3.6 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bristlecone Advisors LLC raised its position in Innovative Industrial Properties by 0.8% during the 3rd quarter. Bristlecone Advisors LLC now owns 12,600 shares of the company's stock worth $1,696,000 after purchasing an additional 103 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Innovative Industrial Properties by 5.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,948 shares of the company's stock worth $196,000 after purchasing an additional 160 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Innovative Industrial Properties by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 4,228 shares of the company's stock worth $288,000 after purchasing an additional 164 shares during the last quarter. Roberts Glore & Co. Inc. IL raised its position in Innovative Industrial Properties by 4.6% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 3,920 shares of the company's stock worth $261,000 after purchasing an additional 172 shares during the last quarter. Finally, US Bancorp DE raised its position in Innovative Industrial Properties by 75.3% during the 3rd quarter. US Bancorp DE now owns 440 shares of the company's stock worth $59,000 after purchasing an additional 189 shares during the last quarter. 70.58% of the stock is owned by institutional investors.

Innovative Industrial Properties Price Performance

Shares of IIPR traded up $0.07 during trading hours on Friday, reaching $72.94. The stock had a trading volume of 580,672 shares, compared to its average volume of 288,285. Innovative Industrial Properties has a 12 month low of $62.45 and a 12 month high of $138.35. The stock has a market capitalization of $2.07 billion, a PE ratio of 13.19 and a beta of 1.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53. The company's 50-day moving average is $72.18 and its two-hundred day moving average is $104.38.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, meeting analysts' consensus estimates of $2.22. The company had revenue of $76.74 million during the quarter, compared to analysts' expectations of $76.21 million. Innovative Industrial Properties had a return on equity of 8.37% and a net margin of 52.40%. Research analysts expect that Innovative Industrial Properties will post 8.28 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 10.42%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties's dividend payout ratio is currently 137.43%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IIPR. Roth Mkm cut their target price on Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Friday. Compass Point cut Innovative Industrial Properties from a "buy" rating to a "neutral" rating and cut their target price for the stock from $125.00 to $78.00 in a research note on Friday, December 20th. Roth Capital upgraded Innovative Industrial Properties to a "strong-buy" rating in a research note on Monday, November 11th. JMP Securities restated a "market perform" rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Finally, Alliance Global Partners cut Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 23rd. One 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 MarketBeat.com, Innovative Industrial Properties currently has an average rating of "Hold" and a consensus target price of $102.00.

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.