Daiwa Securities Group Inc. Sells 305 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Daiwa Securities Group Inc. lessened its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,811 shares of the company’s stock after selling 305 shares during the period. Daiwa Securities Group Inc.’s holdings in Innovative Industrial Properties were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IIPR. Blue Trust Inc. increased its holdings in shares of Innovative Industrial Properties by 2,085.7% in the 2nd 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. GAMMA Investing LLC increased its holdings in shares of Innovative Industrial Properties by 84.9% in the 1st quarter. GAMMA Investing LLC now owns 525 shares of the company’s stock worth $54,000 after buying an additional 241 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Innovative Industrial Properties by 42.3% in the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $55,000 after buying an additional 150 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Innovative Industrial Properties by 251.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 723 shares of the company’s stock worth $73,000 after buying an additional 517 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new position in shares of Innovative Industrial Properties in the 1st quarter worth $80,000. Institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Price Performance

Shares of Innovative Industrial Properties stock opened at $129.16 on Monday. Innovative Industrial Properties, Inc. has a 52-week low of $69.08 and a 52-week high of $129.45. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 22.66 and a beta of 1.35. The company has a fifty day moving average of $119.87 and a 200-day moving average of $109.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 18.06 and a current ratio of 18.06.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.64). The firm had revenue of $79.79 million for the quarter, compared to analysts’ expectations of $77.18 million. Innovative Industrial Properties had a net margin of 52.73% and a return on equity of 8.50%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.26 EPS. Equities research analysts expect that Innovative Industrial Properties, Inc. will post 8.41 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $7.60 annualized dividend and a yield of 5.88%. Innovative Industrial Properties’s payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

IIPR has been the topic of a number of research analyst reports. Roth Mkm increased their price target on shares of Innovative Industrial Properties from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Piper Sandler upped their price objective on shares of Innovative Industrial Properties from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 9th.

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.