Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 11.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,500 shares of the company's stock after selling 16,300 shares during the quarter. LSV Asset Management owned approximately 0.43% of Innovative Industrial Properties worth $8,030,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at approximately $27,000. Compass Financial Services Inc purchased a new position in Innovative Industrial Properties during the fourth quarter worth about $32,000. Smartleaf Asset Management LLC increased its position in shares of Innovative Industrial Properties by 182.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the company's stock valued at $43,000 after acquiring an additional 417 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Innovative Industrial Properties in the 4th quarter worth approximately $50,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Innovative Industrial Properties in the 4th quarter valued at approximately $57,000. 70.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the sale, the director now owns 1,346 shares of the company's stock, valued at approximately $94,960.30. This trade represents a 84.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by company insiders.

Innovative Industrial Properties Stock Up 1.1 %

Shares of Innovative Industrial Properties stock traded up $0.54 on Friday, reaching $51.50. 194,685 shares of the company were exchanged, compared to its average volume of 270,653. The stock's 50 day moving average price is $64.18 and its 200-day moving average price is $86.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. Innovative Industrial Properties, Inc. has a 1-year low of $45.44 and a 1-year high of $138.35. The company has a market cap of $1.46 billion, a P/E ratio of 9.31 and a beta of 1.59.

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

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 14.76%. The ex-dividend date of this dividend was Monday, March 31st. Innovative Industrial Properties's dividend payout ratio is presently 137.43%.

Analyst Ratings Changes

Several research analysts have recently commented on IIPR shares. Roth Mkm lowered their price target on Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Piper Sandler decreased their target price on Innovative Industrial Properties from $55.00 to $45.00 and set an "underweight" rating on the stock in a research note on Tuesday. Alliance Global Partners downgraded Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 23rd. Industrial Alliance Securities reissued a "neutral" rating on shares of Innovative Industrial Properties in a research report on Tuesday, April 1st. Finally, BTIG Research lowered shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research note on Monday, December 23rd. Two analysts have rated the stock with a sell rating, five have given 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $83.00.

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.