GAMMA Investing LLC Acquires 200 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

GAMMA Investing LLC boosted its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 46.3% in the 3rd quarter, Holdings Channel reports. The firm owned 632 shares of the company’s stock after buying an additional 200 shares during the period. GAMMA Investing LLC’s holdings in Innovative Industrial Properties were worth $85,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IIPR. Focused Wealth Management Inc lifted its stake in shares of Innovative Industrial Properties by 2.4% in the 2nd quarter. Focused Wealth Management Inc now owns 3,953 shares of the company’s stock valued at $432,000 after acquiring an additional 93 shares during the last quarter. Cape Investment Advisory Inc. lifted its stake in shares of Innovative Industrial Properties by 11.6% in the 1st quarter. Cape Investment Advisory Inc. now owns 1,098 shares of the company’s stock valued at $114,000 after acquiring an additional 114 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of Innovative Industrial Properties by 2.1% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,616 shares of the company’s stock valued at $611,000 after acquiring an additional 116 shares during the last quarter. Hancock Whitney Corp lifted its stake in shares of Innovative Industrial Properties by 2.4% in the 1st quarter. Hancock Whitney Corp now owns 5,227 shares of the company’s stock valued at $541,000 after acquiring an additional 124 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Innovative Industrial Properties by 2.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,322 shares of the company’s stock valued at $581,000 after acquiring an additional 126 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Stock Up 0.9 %

Shares of NYSE:IIPR opened at $132.11 on Tuesday. The firm has a market cap of $3.74 billion, a P/E ratio of 23.18 and a beta of 1.35. The company has a quick ratio of 18.06, a current ratio of 18.06 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 $138.35. The business has a fifty day simple moving average of $126.10 and a 200 day simple moving average of $114.54.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Monday, August 5th. The company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.64). The company had revenue of $79.79 million for the quarter, compared to the consensus estimate of $77.18 million. Innovative Industrial Properties had a return on equity of 8.50% and a net margin of 52.73%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.26 earnings per share. Analysts predict that Innovative Industrial Properties, Inc. will post 8.47 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $7.60 dividend on an annualized basis and a yield of 5.75%. Innovative Industrial Properties’s payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

IIPR has been the subject of a number of research reports. Wolfe Research upgraded Innovative Industrial Properties to a “hold” rating in a research note on Monday, September 23rd. Roth Mkm increased their price target on Innovative Industrial Properties from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Piper Sandler raised their target price on Innovative Industrial Properties from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report 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.