Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Bought by Pensionfund DSM Netherlands

Pensionfund DSM Netherlands lifted its stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,600 shares of the company’s stock after acquiring an additional 500 shares during the period. Pensionfund DSM Netherlands’ holdings in Innovative Industrial Properties were worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new position in Innovative Industrial Properties during the 4th quarter worth $946,000. Klein Pavlis & Peasley Financial Inc. acquired a new position in Innovative Industrial Properties during the fourth quarter worth about $1,472,000. Chesapeake Capital Corp IL acquired a new stake in Innovative Industrial Properties during the 4th quarter valued at $854,000. Pinebridge Investments L.P. purchased a new position in Innovative Industrial Properties during the fourth quarter worth $763,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Innovative Industrial Properties by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 363,500 shares of the company’s stock valued at $27,502,000 after acquiring an additional 12,026 shares in the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their target price on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the company a “neutral” rating in a report on Thursday, February 29th.

Innovative Industrial Properties Trading Up 0.9 %

NYSE:IIPR traded up $0.97 during mid-day trading on Tuesday, reaching $108.46. The company’s stock had a trading volume of 135,824 shares, compared to its average volume of 215,632. Innovative Industrial Properties, Inc. has a twelve month low of $69.08 and a twelve month high of $115.75. The company’s fifty day simple moving average is $104.94 and its two-hundred day simple moving average is $98.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 14.27 and a quick ratio of 14.27. The stock has a market cap of $3.07 billion, a P/E ratio of 18.86 and a beta of 1.51.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.74). The company had revenue of $75.45 million during the quarter, compared to analysts’ expectations of $79.65 million. Innovative Industrial Properties had a net margin of 53.07% and a return on equity of 8.46%. On average, equities analysts predict that Innovative Industrial Properties, Inc. will post 8.5 EPS for the current year.

Innovative Industrial Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $1.90 dividend. This is a positive change from Innovative Industrial Properties’s previous quarterly dividend of $1.82. This represents a $7.60 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend is Friday, June 28th. Innovative Industrial Properties’s dividend payout ratio (DPR) is 127.72%.

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.