Pensionfund Sabic Acquires 1,000 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Pensionfund Sabic raised its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 22.7% in the first quarter, Holdings Channel.com reports. The firm owned 5,404 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Pensionfund Sabic’s holdings in Innovative Industrial Properties were worth $560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IIPR. Investors Research Corp increased its position in shares of Innovative Industrial Properties by 2.6% during the fourth quarter. Investors Research Corp now owns 5,000 shares of the company’s stock valued at $504,000 after acquiring an additional 125 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Innovative Industrial Properties by 4.3% during the third quarter. Van ECK Associates Corp now owns 3,271 shares of the company’s stock valued at $247,000 after acquiring an additional 136 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Innovative Industrial Properties by 0.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 18,123 shares of the company’s stock valued at $1,827,000 after acquiring an additional 144 shares in the last quarter. Virtu Financial LLC increased its position in shares of Innovative Industrial Properties by 4.2% during the fourth quarter. Virtu Financial LLC now owns 5,733 shares of the company’s stock valued at $578,000 after acquiring an additional 230 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Innovative Industrial Properties by 84.9% during the first quarter. GAMMA Investing LLC now owns 525 shares of the company’s stock valued at $54,000 after acquiring an additional 241 shares in the last quarter. Institutional investors own 70.58% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler raised their price target on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th.

Innovative Industrial Properties Trading Up 0.9 %

NYSE:IIPR opened at $108.48 on Thursday. The company has a current ratio of 14.27, a quick ratio of 14.27 and a debt-to-equity ratio of 0.15. Innovative Industrial Properties, Inc. has a 12 month low of $69.08 and a 12 month high of $115.75. The company has a market cap of $3.07 billion, a PE ratio of 19.03 and a beta of 1.51. The company has a 50 day simple moving average of $105.26 and a two-hundred day simple moving average of $99.19.

Innovative Industrial Properties (NYSE:IIPR) last posted its earnings results on Wednesday, May 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.74). Innovative Industrial Properties had a return on equity of 8.46% and a net margin of 53.07%. The company had revenue of $75.45 million during the quarter, compared to the consensus estimate of $79.65 million. Research analysts forecast that Innovative Industrial Properties, Inc. will post 8.5 earnings per share for the current year.

Innovative Industrial Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend is Thursday, June 27th. This is a boost from Innovative Industrial Properties’s previous quarterly dividend of $1.82. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 127.72%.

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.