Compass Financial Management LLC Acquires New Stake in Innovative Industrial Properties, Inc. $IIPR

Compass Financial Management LLC bought a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 72,193 shares of the company’s stock, valued at approximately $4,475,000. Compass Financial Management LLC owned approximately 0.26% of Innovative Industrial Properties at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IIPR. Quantbot Technologies LP acquired a new position in shares of Innovative Industrial Properties during the 2nd quarter valued at $553,000. Ieq Capital LLC acquired a new stake in shares of Innovative Industrial Properties in the second quarter valued at $223,000. Allworth Financial LP acquired a new stake in shares of Innovative Industrial Properties in the second quarter valued at $240,000. Virtus Advisers LLC bought a new position in Innovative Industrial Properties during the second quarter valued at about $137,000. Finally, Mystic Asset Management Inc. bought a new position in Innovative Industrial Properties during the second quarter valued at about $331,000. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Innovative Industrial Properties Stock Up 0.1%

Shares of Innovative Industrial Properties stock opened at $56.76 on Friday. Innovative Industrial Properties, Inc. has a 12-month low of $44.58 and a 12-month high of $65.38. The firm has a market capitalization of $1.56 billion, a PE ratio of 12.87 and a beta of 1.38. The company has a quick ratio of 24.51, a current ratio of 24.51 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $60.59 and its 200-day moving average is $55.77.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.34. The business had revenue of $63.31 million during the quarter, compared to analyst estimates of $67.09 million. Innovative Industrial Properties had a return on equity of 7.73% and a net margin of 52.27%. Equities analysts anticipate that Innovative Industrial Properties, Inc. will post 7.15 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 13.4%. The ex-dividend date was Tuesday, June 30th. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 172.34%.

Wall Street Analysts Forecast Growth

IIPR has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Innovative Industrial Properties from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Piper Sandler lifted their price objective on shares of Innovative Industrial Properties from $45.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Innovative Industrial Properties currently has a consensus rating of “Reduce” and an average target price of $48.00.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.