Versor Investments LP Acquires 6,062 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Versor Investments LP increased its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 98.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,227 shares of the company's stock after acquiring an additional 6,062 shares during the period. Versor Investments LP's holdings in Innovative Industrial Properties were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in shares of Innovative Industrial Properties during the 3rd quarter worth $25,000. US Bancorp DE raised its holdings in Innovative Industrial Properties by 75.3% during the third quarter. US Bancorp DE now owns 440 shares of the company's stock valued at $59,000 after buying an additional 189 shares in the last quarter. Blue Trust Inc. lifted its position 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. Signaturefd LLC boosted 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 acquiring an additional 150 shares in the last quarter. Finally, 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 acquiring an additional 312 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company's stock.

Analyst Ratings Changes

IIPR has been the subject of a number of recent analyst reports. Roth Mkm upped their target price on Innovative Industrial Properties from $115.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Wolfe Research upgraded shares of Innovative Industrial Properties to a "hold" rating in a research note on Monday, September 23rd. Piper Sandler cut their target price on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Compass Point raised Innovative Industrial Properties from a "neutral" rating to a "buy" rating and set a $125.00 price target on the stock in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.67.

Innovative Industrial Properties Stock Performance

NYSE:IIPR traded up $1.42 during trading hours on Monday, hitting $107.79. 383,286 shares of the company traded hands, compared to its average volume of 200,504. The company has a current ratio of 11.53, a quick ratio of 18.06 and a debt-to-equity ratio of 0.15. Innovative Industrial Properties, Inc. has a twelve month low of $73.04 and a twelve month high of $138.35. The firm has a 50-day moving average of $129.41 and a 200 day moving average of $118.70. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 19.18 and a beta of 1.37.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.76). Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The company had revenue of $76.53 million for the quarter, compared to the consensus estimate of $77.30 million. During the same quarter in the previous year, the firm posted $2.29 EPS. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts forecast that Innovative Industrial Properties, Inc. will post 8.47 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 7.05%. The ex-dividend date was Monday, September 30th. Innovative Industrial Properties's payout ratio is presently 135.23%.

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.