Y Intercept Hong Kong Ltd Buys Shares of 45,516 Innovative Industrial Properties, Inc. (NYSE:IIPR)

Y Intercept Hong Kong Ltd purchased a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 45,516 shares of the company’s stock, valued at approximately $3,033,000.

A number of other large investors have also made changes to their positions in the stock. Bogart Wealth LLC purchased a new stake in Innovative Industrial Properties during the fourth quarter worth about $27,000. Canton Hathaway LLC acquired a new stake in shares of Innovative Industrial Properties during the 3rd quarter valued at approximately $55,000. Loomis Sayles & Co. L P boosted its stake in shares of Innovative Industrial Properties by 3,130.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock worth $57,000 after acquiring an additional 407 shares in the last quarter. US Bancorp DE grew its holdings in shares of Innovative Industrial Properties by 75.3% in the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after acquiring an additional 189 shares during the period. Finally, Compass Financial Services Inc purchased a new position in Innovative Industrial Properties in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Up 0.7 %

IIPR stock opened at $73.20 on Tuesday. Innovative Industrial Properties, Inc. has a one year low of $62.45 and a one year high of $138.35. The stock has a market capitalization of $2.07 billion, a P/E ratio of 13.24 and a beta of 1.40. The company has a 50 day moving average price of $71.60 and a two-hundred day moving average price of $103.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, meeting 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 business had revenue of $76.74 million during the quarter, compared to the consensus estimate of $76.21 million. As a group, sell-side analysts expect that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 10.38%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio is currently 137.43%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Compass Point cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $78.00 in a research report on Friday, December 20th. Piper Sandler downgraded shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $118.00 to $70.00 in a report on Friday, December 20th. BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. Finally, JMP Securities restated a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $102.00.

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.