Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC cut its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,254 shares of the company’s stock after selling 125 shares during the quarter. Bristlecone Advisors LLC’s holdings in Innovative Industrial Properties were worth $1,135,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in shares of Innovative Industrial Properties in the third quarter valued at approximately $25,000. FNY Investment Advisers LLC purchased a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at approximately $40,000. Global Retirement Partners LLC increased its position in shares of Innovative Industrial Properties by 67.6% in the third quarter. Global Retirement Partners LLC now owns 796 shares of the company’s stock valued at $58,000 after buying an additional 321 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Innovative Industrial Properties in the third quarter valued at approximately $62,000. Finally, Independence Bank of Kentucky increased its position in shares of Innovative Industrial Properties by 82.9% in the fourth quarter. Independence Bank of Kentucky now owns 640 shares of the company’s stock valued at $65,000 after buying an additional 290 shares in the last quarter. 70.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IIPR has been the subject of several research reports. Piper Sandler boosted their price target on Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. TheStreet upgraded Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research report on Wednesday, January 10th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Innovative Industrial Properties has an average rating of “Hold” and an average price target of $92.67.

Innovative Industrial Properties Stock Performance

NYSE IIPR opened at $100.96 on Monday. The stock has a market cap of $2.85 billion, a PE ratio of 17.50 and a beta of 1.49. The company has a current ratio of 14.22, a quick ratio of 14.22 and a debt-to-equity ratio of 0.16. Innovative Industrial Properties, Inc. has a twelve month low of $63.36 and a twelve month high of $105.81. The stock has a fifty day simple moving average of $96.22 and a 200-day simple moving average of $88.77.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Monday, February 26th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.62). The business had revenue of $79.16 million for the quarter, compared to analysts’ expectations of $76.55 million. Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. Equities analysts anticipate that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date is Wednesday, March 27th. Innovative Industrial Properties’s dividend payout ratio (DPR) is 126.17%.

Innovative Industrial Properties 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.