Edmp Inc. Makes New $243,000 Investment in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Edmp Inc. acquired a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,415 shares of the company’s stock, valued at approximately $243,000.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Innovative Industrial Properties in the third quarter valued at about $25,000. Lazard Asset Management LLC increased its position in shares of Innovative Industrial Properties by 112.9% in the first quarter. Lazard Asset Management LLC now owns 396 shares of the company’s stock valued at $81,000 after acquiring an additional 210 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Innovative Industrial Properties in the fourth quarter valued at about $40,000. Independence Bank of Kentucky increased its position in shares of Innovative Industrial Properties by 82.9% during 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 during the period. Finally, Centaurus Financial Inc. increased its position in shares of Innovative Industrial Properties by 61.4% during the first quarter. Centaurus Financial Inc. now owns 649 shares of the company’s stock valued at $133,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Analyst Ratings Changes

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

Innovative Industrial Properties Stock Up 0.5 %

NYSE:IIPR traded up $0.47 during mid-day trading on Friday, hitting $100.96. 120,175 shares of the company’s stock were exchanged, compared to its average volume of 235,140. Innovative Industrial Properties, Inc. has a one year low of $63.36 and a one year high of $105.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. The business has a fifty day moving average price of $96.22 and a 200 day moving average price of $88.74. The company has a market cap of $2.85 billion, a PE ratio of 17.50 and a beta of 1.49.

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

Innovative Industrial Properties Announces Dividend

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

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.