KLP Kapitalforvaltning AS Acquires New Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

KLP Kapitalforvaltning AS acquired a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,400 shares of the company's stock, valued at approximately $573,000.

A number of other institutional investors also recently bought and sold shares of the stock. Roberts Glore & Co. Inc. IL lifted its holdings in shares of Innovative Industrial Properties by 4.6% during the fourth 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 period. Avantax Advisory Services Inc. raised its position in Innovative Industrial Properties by 2.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 9,543 shares of the company's stock worth $636,000 after buying an additional 192 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its stake in Innovative Industrial Properties by 3.6% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company's stock valued at $378,000 after acquiring an additional 200 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Innovative Industrial Properties by 11.6% in the 3rd quarter. Captrust Financial Advisors now owns 2,050 shares of the company's stock valued at $276,000 after acquiring an additional 213 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Innovative Industrial Properties by 1.7% in the fourth quarter. American Century Companies Inc. now owns 16,158 shares of the company's stock worth $1,077,000 after acquiring an additional 270 shares during the period. 70.58% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Innovative Industrial Properties

In other Innovative Industrial Properties 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 directly owns 1,346 shares in the company, valued at approximately $94,960.30. The trade was a 84.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

Innovative Industrial Properties Price Performance

Shares of Innovative Industrial Properties stock traded down $1.25 on Monday, hitting $52.18. The company's stock had a trading volume of 836,542 shares, compared to its average volume of 262,130. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 9.44 and a beta of 1.59. Innovative Industrial Properties, Inc. has a 1 year low of $49.51 and a 1 year high of $138.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. The firm has a fifty day moving average price of $68.57 and a 200-day moving average price of $91.76.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, meeting analysts' consensus estimates of $2.22. The business 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 8.39% and a net margin of 52.40%. As a group, sell-side analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 14.56%. The ex-dividend date is Monday, March 31st. Innovative Industrial Properties's payout ratio is presently 137.43%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BTIG Research downgraded shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research report on Monday, December 23rd. JMP Securities reissued a "market perform" rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. Industrial Alliance Securities restated a "neutral" rating on shares of Innovative Industrial Properties in a research note on Tuesday, April 1st. Alliance Global Partners cut Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 23rd. Finally, Compass Point reissued a "sell" rating and issued a $50.00 price target (down from $60.00) on shares of Innovative Industrial Properties in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Innovative Industrial Properties has a consensus rating of "Hold" and a consensus price target of $85.00.

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.