Roberts Glore & Co. Inc. IL Has $261,000 Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Roberts Glore & Co. Inc. IL raised its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,920 shares of the company’s stock after buying an additional 172 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Innovative Industrial Properties were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of IIPR. US Bancorp DE increased its holdings in shares of Innovative Industrial Properties by 75.3% in the third quarter. US Bancorp DE now owns 440 shares of the company’s stock valued at $59,000 after purchasing an additional 189 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Innovative Industrial Properties by 12.3% in the third quarter. Van ECK Associates Corp now owns 4,843 shares of the company’s stock valued at $641,000 after purchasing an additional 531 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Innovative Industrial Properties in the third quarter valued at $713,000. Verdence Capital Advisors LLC acquired a new position in shares of Innovative Industrial Properties in the third quarter valued at $228,000. Finally, Assetmark Inc. increased its holdings in shares of Innovative Industrial Properties by 18.6% in the third quarter. Assetmark Inc. now owns 6,836 shares of the company’s stock valued at $920,000 after purchasing an additional 1,073 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Innovative Industrial Properties Trading Up 0.7 %

Shares of IIPR stock opened at $73.23 on Friday. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.07 billion, a P/E ratio of 13.24 and a beta of 1.49. The stock has a 50 day simple moving average of $70.25 and a 200 day simple moving average of $101.34. Innovative Industrial Properties, Inc. has a 1 year low of $62.45 and a 1 year high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate 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%. On average, research analysts predict that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

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

Insiders Place Their Bets

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of the company’s stock in a transaction 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 $94,960.30. This 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 is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Roth Capital upgraded shares of Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. JMP Securities reaffirmed a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Alliance Global Partners lowered shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 23rd. Compass Point cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $78.00 in a research note on Friday, December 20th. Finally, BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $102.00.

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.