Crossmark Global Holdings Inc. Grows Stock Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Crossmark Global Holdings Inc. increased its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 21.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,539 shares of the company’s stock after acquiring an additional 454 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Innovative Industrial Properties were worth $341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Focused Wealth Management Inc lifted its holdings in Innovative Industrial Properties by 2.4% in the second 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. Bristlecone Advisors LLC lifted its holdings in Innovative Industrial Properties by 0.8% during the 3rd quarter. Bristlecone Advisors LLC now owns 12,600 shares of the company’s stock worth $1,696,000 after buying an additional 103 shares in the last quarter. Cape Investment Advisory Inc. boosted its position in 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 buying an additional 114 shares during the period. Baader Bank Aktiengesellschaft boosted its position in 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 buying an additional 116 shares during the period. Finally, Hancock Whitney Corp increased its position in shares of Innovative Industrial Properties by 2.4% during the first quarter. Hancock Whitney Corp now owns 5,227 shares of the company’s stock worth $541,000 after acquiring an additional 124 shares during the period. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Innovative Industrial Properties Price Performance

IIPR stock opened at $102.23 on Monday. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 18.19 and a beta of 1.37. Innovative Industrial Properties, Inc. has a fifty-two week low of $77.88 and a fifty-two week high of $138.35. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $127.93 and a 200 day moving average price of $118.75.

Innovative Industrial Properties (NYSE:IIPR) last issued its earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.76). Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. The company had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. During the same quarter in the previous year, the company posted $2.29 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts anticipate that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $1.90 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 7.43%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 135.23%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Piper Sandler lowered their price objective on Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Compass Point upgraded shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Friday, November 8th. Wolfe Research upgraded shares of Innovative Industrial Properties to a “hold” rating in a research note on Monday, September 23rd. Finally, Roth Mkm increased their price objective on shares of Innovative Industrial Properties from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Innovative Industrial Properties presently has a consensus rating of “Moderate Buy” and an average price target of $127.67.

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.