Illinois Municipal Retirement Fund Has $1.05 Million Stock Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Illinois Municipal Retirement Fund grew its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,724 shares of the company’s stock after purchasing an additional 1,188 shares during the period. Illinois Municipal Retirement Fund’s holdings in Innovative Industrial Properties were worth $1,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE raised 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. Baader Bank Aktiengesellschaft grew its position in Innovative Industrial Properties by 3.6% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock valued at $378,000 after buying an additional 200 shares during the period. KBC Group NV grew its position in Innovative Industrial Properties by 28.2% during the third quarter. KBC Group NV now owns 940 shares of the company’s stock valued at $127,000 after buying an additional 207 shares during the period. Captrust Financial Advisors grew its position in Innovative Industrial Properties by 11.6% during the third quarter. Captrust Financial Advisors now owns 2,050 shares of the company’s stock valued at $276,000 after buying an additional 213 shares during the period. Finally, Penserra Capital Management LLC grew its position in Innovative Industrial Properties by 1.0% during the third quarter. Penserra Capital Management LLC now owns 26,672 shares of the company’s stock valued at $3,589,000 after buying an additional 272 shares during the period. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IIPR shares. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. Compass Point lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and cut their target price for the stock from $125.00 to $78.00 in a research report on Friday, December 20th. Roth Mkm cut their target price on shares of 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. Roth Capital upgraded shares of Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $102.00.

Innovative Industrial Properties Price Performance

IIPR stock opened at $71.86 on Monday. The firm has a 50 day moving average of $70.05 and a 200-day moving average of $102.84. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. Innovative Industrial Properties, Inc. has a 12 month low of $62.45 and a 12 month high of $138.35. The firm has a market capitalization of $2.04 billion, a P/E ratio of 12.99 and a beta of 1.40.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.22. The business had revenue of $76.74 million for the quarter, compared to the consensus estimate of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. As a group, sell-side 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 business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 10.58%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio is currently 137.43%.

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.