Dimensional Fund Advisors LP Boosts Stake in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Dimensional Fund Advisors LP boosted its position in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 16.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 328,344 shares of the company's stock after buying an additional 45,779 shares during the period. Dimensional Fund Advisors LP owned approximately 1.16% of Innovative Industrial Properties worth $35,862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of IIPR. Blue Trust Inc. boosted its stake in shares of Innovative Industrial Properties by 2,085.7% in the second quarter. Blue Trust Inc. now owns 459 shares of the company's stock worth $48,000 after buying an additional 438 shares during the last quarter. GAMMA Investing LLC boosted its position in Innovative Industrial Properties by 84.9% in the 1st quarter. GAMMA Investing LLC now owns 525 shares of the company's stock worth $54,000 after purchasing an additional 241 shares in the last quarter. Signaturefd LLC grew its stake in shares of Innovative Industrial Properties by 42.3% during the 2nd quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $55,000 after purchasing an additional 150 shares during the period. Federated Hermes Inc. increased its holdings in shares of Innovative Industrial Properties by 138.1% during the 2nd quarter. Federated Hermes Inc. now owns 538 shares of the company's stock valued at $59,000 after purchasing an additional 312 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Innovative Industrial Properties by 251.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 723 shares of the company's stock valued at $73,000 after purchasing an additional 517 shares during the period. Institutional investors and hedge funds own 70.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IIPR. Wolfe Research upgraded shares of Innovative Industrial Properties to a "hold" rating in a research report on Monday, September 23rd. Roth Mkm raised their target price on Innovative Industrial Properties from $115.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Finally, Piper Sandler upped their price target on Innovative Industrial Properties from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $130.00.

Innovative Industrial Properties Trading Down 0.1 %

NYSE IIPR traded down $0.18 on Wednesday, reaching $132.32. 106,227 shares of the company were exchanged, compared to its average volume of 200,663. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.15. The business's fifty day moving average price is $124.26 and its 200 day moving average price is $112.69. The stock has a market capitalization of $3.75 billion, a P/E ratio of 23.21 and a beta of 1.35. Innovative Industrial Properties, Inc. has a fifty-two week low of $69.08 and a fifty-two week high of $138.35.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.64). Innovative Industrial Properties had a net margin of 52.73% and a return on equity of 8.50%. The firm had revenue of $79.79 million for the quarter, compared to analyst estimates of $77.18 million. During the same period in the previous year, the firm posted $2.26 EPS. The company's revenue was up 4.4% compared to the same quarter last year. Analysts forecast that Innovative Industrial Properties, Inc. will post 8.47 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 5.74%. Innovative Industrial Properties's dividend payout ratio is currently 133.33%.

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.