Investors Research Corp Has $504,000 Stake in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Investors Research Corp lifted its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the company’s stock after purchasing an additional 125 shares during the quarter. Investors Research Corp’s holdings in Innovative Industrial Properties were worth $504,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Headlands Technologies LLC acquired a new stake in Innovative Industrial Properties during the 3rd quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new stake in shares of Innovative Industrial Properties during the fourth quarter worth $40,000. Global Retirement Partners LLC boosted its stake in Innovative Industrial Properties by 67.6% in the 3rd quarter. Global Retirement Partners LLC now owns 796 shares of the company’s stock worth $58,000 after purchasing an additional 321 shares during the period. Headinvest LLC bought a new position in Innovative Industrial Properties during the 3rd quarter worth about $62,000. Finally, Independence Bank of Kentucky raised its stake in shares of Innovative Industrial Properties by 82.9% in the 4th quarter. Independence Bank of Kentucky now owns 640 shares of the company’s stock valued at $65,000 after purchasing an additional 290 shares during the period. Institutional investors own 70.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IIPR. Piper Sandler upped their price objective on Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. TheStreet raised shares of Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research note on Wednesday, January 10th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $92.67.

Innovative Industrial Properties Stock Performance

Shares of NYSE IIPR opened at $96.76 on Tuesday. The stock has a market capitalization of $2.73 billion, a PE ratio of 16.77 and a beta of 1.49. Innovative Industrial Properties, Inc. has a 52 week low of $63.36 and a 52 week high of $105.81. The stock has a 50 day moving average price of $96.85 and a 200 day moving average price of $89.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 14.22 and a current ratio of 14.22.

Innovative Industrial Properties (NYSE:IIPR) last released 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 company had revenue of $79.16 million during the quarter, compared to analyst estimates of $76.55 million. Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. Analysts predict that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $1.82 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $7.28 annualized dividend and a yield of 7.52%. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 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.