Innovative Industrial Properties, Inc. (NYSE:IIPR) Stock Holdings Lifted by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 141.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,730 shares of the company's stock after acquiring an additional 14,480 shares during the period. Intech Investment Management LLC owned about 0.09% of Innovative Industrial Properties worth $1,648,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in IIPR. Pacer Advisors Inc. acquired a new position in Innovative Industrial Properties during the 4th quarter valued at approximately $42,006,000. Wellington Management Group LLP boosted its holdings in shares of Innovative Industrial Properties by 48.6% during the third quarter. Wellington Management Group LLP now owns 568,280 shares of the company's stock valued at $76,490,000 after acquiring an additional 185,855 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Innovative Industrial Properties by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,553 shares of the company's stock worth $30,958,000 after acquiring an additional 7,179 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Innovative Industrial Properties by 25.8% in the 4th quarter. Bank of New York Mellon Corp now owns 378,644 shares of the company's stock worth $25,233,000 after acquiring an additional 77,552 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Innovative Industrial Properties by 17.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 237,206 shares of the company's stock valued at $31,928,000 after purchasing an additional 35,269 shares during the last quarter. 70.58% of the stock is owned by institutional investors.

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Innovative Industrial Properties Trading Up 0.0 %

Shares of Innovative Industrial Properties stock traded up $0.03 on Wednesday, reaching $64.88. 283,257 shares of the company were exchanged, compared to its average volume of 243,705. Innovative Industrial Properties, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $138.35. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.73 and a beta of 1.49. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $70.41 and a 200-day moving average price of $96.32.

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

Innovative Industrial Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.90 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.60 annualized dividend and a dividend yield of 11.71%. Innovative Industrial Properties's dividend payout ratio (DPR) is presently 137.43%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BTIG Research lowered shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research note on Monday, December 23rd. Alliance Global Partners downgraded Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 23rd. JMP Securities reaffirmed a "market perform" rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Compass Point decreased their price target 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, Roth Mkm cut their price objective on Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Innovative Industrial Properties currently has an average rating of "Hold" and an average target price of $88.00.

Insider Buying and Selling

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $70.55, for a total transaction of $536,109.45. Following the transaction, the director now owns 1,346 shares of the company's stock, valued at $94,960.30. The trade was a 84.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.50% of the company's stock.

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.