Quantbot Technologies LP Has $576,000 Stake in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Quantbot Technologies LP lifted its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,636 shares of the company’s stock after buying an additional 604 shares during the quarter. Quantbot Technologies LP’s holdings in Innovative Industrial Properties were worth $576,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bogart Wealth LLC acquired a new stake in Innovative Industrial Properties during the 4th quarter worth about $27,000. Compass Financial Services Inc bought a new stake in shares of Innovative Industrial Properties during the 4th quarter valued at about $32,000. Smartleaf Asset Management LLC grew its stake in Innovative Industrial Properties by 182.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock worth $43,000 after purchasing an additional 417 shares during the period. Loomis Sayles & Co. L P increased its holdings in 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 worth $57,000 after purchasing an additional 407 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new position in Innovative Industrial Properties in the fourth quarter valued at approximately $77,000. Institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Price Performance

Shares of NYSE IIPR opened at $65.08 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. The firm’s 50-day simple moving average is $70.35 and its 200 day simple moving average is $95.89. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 11.77 and a beta of 1.49. Innovative Industrial Properties, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last announced its 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 return on equity of 8.39% and a net margin of 52.40%. The company had revenue of $76.74 million for the quarter, compared to analysts’ expectations of $76.21 million. As a group, research analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.90 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.60 annualized dividend and a dividend yield of 11.68%. Innovative Industrial Properties’s payout ratio is 137.43%.

Insider Activity

In other news, Director David Stecher sold 7,599 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $70.55, for a total value of $536,109.45. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Roth Mkm reduced their price objective on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Industrial Alliance Securities set a $60.00 price target on shares of Innovative Industrial Properties in a research note on Tuesday, March 18th. Piper Sandler dropped their price objective on shares of Innovative Industrial Properties from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Monday, March 17th. BTIG Research downgraded Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.00.

Innovative Industrial Properties Company 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.