Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Sold by Amundi

Amundi cut its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,243 shares of the company’s stock after selling 471 shares during the quarter. Amundi’s holdings in Innovative Industrial Properties were worth $998,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft increased its stake in shares of Innovative Industrial Properties by 3.6% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock worth $378,000 after acquiring an additional 200 shares during the period. KBC Group NV increased its stake in shares of Innovative Industrial Properties by 28.2% during the third quarter. KBC Group NV now owns 940 shares of the company’s stock worth $127,000 after acquiring an additional 207 shares during the period. Captrust Financial Advisors increased its stake in shares of Innovative Industrial Properties by 11.6% during the third quarter. Captrust Financial Advisors now owns 2,050 shares of the company’s stock worth $276,000 after acquiring an additional 213 shares during the period. Penserra Capital Management LLC increased its stake in shares of Innovative Industrial Properties by 1.0% during the third quarter. Penserra Capital Management LLC now owns 26,672 shares of the company’s stock worth $3,589,000 after acquiring an additional 272 shares during the period. Finally, Principal Securities Inc. increased its stake in shares of Innovative Industrial Properties by 31.1% during the fourth quarter. Principal Securities Inc. now owns 1,192 shares of the company’s stock worth $79,000 after acquiring an additional 283 shares during the period. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Innovative Industrial Properties Stock Down 2.2 %

Shares of NYSE IIPR opened at $63.90 on Thursday. Innovative Industrial Properties, Inc. has a 12-month low of $62.45 and a 12-month high of $138.35. The company has a market capitalization of $1.81 billion, a PE ratio of 11.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. The firm’s 50-day moving average is $70.45 and its two-hundred day moving average is $98.12.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. The company had revenue of $76.74 million for the quarter, compared to the consensus estimate of $76.21 million. Equities analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 11.89%. The ex-dividend date of this dividend is Monday, March 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 137.43%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Piper Sandler dropped their price target on shares of Innovative Industrial Properties from $70.00 to $60.00 and set an “underweight” rating on the stock in a research note on Monday. Industrial Alliance Securities set a $60.00 price objective on shares of Innovative Industrial Properties in a report on Tuesday. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. Finally, Roth Mkm decreased their price objective on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $88.00.

Insider Buying and Selling at Innovative Industrial Properties

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $70.55, for a total value of $536,109.45. Following the sale, the director now owns 1,346 shares of the company’s stock, valued at $94,960.30. This represents a 84.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

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.