Dynamic Advisor Solutions LLC Boosts Stake in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Dynamic Advisor Solutions LLC raised its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,490 shares of the company’s stock after buying an additional 168 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Innovative Industrial Properties were worth $739,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. 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. Signaturefd LLC raised its position in Innovative Industrial Properties by 42.3% during the second quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $55,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC lifted its stake 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 valued at $54,000 after purchasing an additional 241 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Innovative Industrial Properties by 138.1% in the 2nd quarter. Federated Hermes Inc. now owns 538 shares of the company’s stock worth $59,000 after purchasing an additional 312 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Innovative Industrial Properties by 251.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 723 shares of the company’s stock valued at $73,000 after purchasing an additional 517 shares during the last quarter. Institutional investors own 70.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on IIPR shares. Roth Mkm lifted their price objective on shares of Innovative Industrial Properties from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Piper Sandler lifted their price target on shares of Innovative Industrial Properties from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, Wolfe Research raised shares of Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd.

Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock opened at $130.87 on Friday. Innovative Industrial Properties, Inc. has a 52 week low of $69.08 and a 52 week high of $138.35. The company has a market capitalization of $3.71 billion, a PE ratio of 22.96 and a beta of 1.35. The stock’s fifty day moving average is $125.72 and its two-hundred day moving average is $114.20. 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 (NYSE:IIPR) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.64). Innovative Industrial Properties had a return on equity of 8.50% and a net margin of 52.73%. The company had revenue of $79.79 million during the quarter, compared to the consensus estimate of $77.18 million. During the same quarter in the previous year, the company posted $2.26 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts expect that Innovative Industrial Properties, Inc. will post 8.47 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend is Monday, September 30th. Innovative Industrial Properties’s dividend payout ratio is presently 133.33%.

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.