Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC raised its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,661 shares of the company’s stock after acquiring an additional 1,363 shares during the quarter. CWA Asset Management Group LLC’s holdings in Innovative Industrial Properties were worth $444,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in IIPR. USA Financial Formulas purchased a new position in Innovative Industrial Properties in the 3rd quarter valued at approximately $25,000. Canton Hathaway LLC acquired a new stake in Innovative Industrial Properties in the third quarter valued at $55,000. Loomis Sayles & Co. L P increased its position in shares of Innovative Industrial Properties by 3,130.8% in the third quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after buying an additional 407 shares in the last quarter. US Bancorp DE raised its stake in shares of Innovative Industrial Properties by 75.3% during the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after buying an additional 189 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position 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 buying an additional 312 shares in the last quarter. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on IIPR. JMP Securities restated a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Alliance Global Partners downgraded Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 23rd. Wolfe Research raised Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd. Compass Point cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $78.00 in a report on Friday, December 20th. Finally, Piper Sandler lowered Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $118.00 to $70.00 in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $104.50.

Innovative Industrial Properties Price Performance

Shares of NYSE:IIPR opened at $65.30 on Thursday. The company has a market cap of $1.85 billion, a P/E ratio of 11.62 and a beta of 1.39. The business has a fifty day simple moving average of $98.92 and a 200-day simple moving average of $114.68. Innovative Industrial Properties, Inc. has a 52 week low of $64.75 and a 52 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.

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

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 11.64%. The ex-dividend date is Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio is currently 135.23%.

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.