AlphaMark Advisors LLC Takes $374,000 Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

AlphaMark Advisors LLC acquired a new position in Innovative Industrial Properties, Inc. (NYSE:IIPR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,780 shares of the company’s stock, valued at approximately $374,000.

Several other hedge funds have also made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Innovative Industrial Properties during the third quarter worth $25,000. Blue Trust Inc. increased its position in Innovative Industrial Properties by 2,085.7% during the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock valued at $48,000 after buying an additional 438 shares in the last quarter. GAMMA Investing LLC raised its stake in Innovative Industrial Properties by 84.9% in the first quarter. GAMMA Investing LLC now owns 525 shares of the company’s stock valued at $54,000 after buying an additional 241 shares during the last quarter. Signaturefd LLC boosted its holdings in Innovative Industrial Properties by 42.3% in the second quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $55,000 after acquiring an additional 150 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Innovative Industrial Properties by 138.1% during the second quarter. Federated Hermes Inc. now owns 538 shares of the company’s stock worth $59,000 after acquiring an additional 312 shares during the last quarter. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on IIPR shares. Roth Mkm lifted their target price 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 boosted their target price on shares of Innovative Industrial Properties from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, Wolfe Research raised Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd.

Innovative Industrial Properties Trading Down 2.3 %

Innovative Industrial Properties stock opened at $132.51 on Friday. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.75 billion, a PE ratio of 23.25 and a beta of 1.35. The stock’s 50 day simple moving average is $127.28 and its two-hundred day simple moving average is $115.02. Innovative Industrial Properties, Inc. has a 12 month low of $69.08 and a 12 month high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings data on Monday, August 5th. The company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.64). Innovative Industrial Properties had a net margin of 52.73% and a return on equity of 8.50%. The firm had revenue of $79.79 million during the quarter, compared to analysts’ expectations of $77.18 million. During the same period in the previous year, the firm posted $2.26 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Innovative Industrial Properties, Inc. will post 8.47 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend was Monday, September 30th. Innovative Industrial Properties’s payout ratio is 133.33%.

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.