Quantbot Technologies LP Raises Stock Holdings in Innovative Industrial Properties, Inc. $IIPR

Quantbot Technologies LP grew its stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 43.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,763 shares of the company’s stock after acquiring an additional 15,460 shares during the quarter. Quantbot Technologies LP owned about 0.18% of Innovative Industrial Properties worth $2,803,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IIPR. OMERS ADMINISTRATION Corp lifted its position in Innovative Industrial Properties by 178.3% during the second quarter. OMERS ADMINISTRATION Corp now owns 16,700 shares of the company’s stock valued at $922,000 after purchasing an additional 10,700 shares during the period. Edgestream Partners L.P. purchased a new stake in Innovative Industrial Properties during the 2nd quarter valued at $8,099,000. New York State Common Retirement Fund raised its stake in Innovative Industrial Properties by 10.2% during the 2nd quarter. New York State Common Retirement Fund now owns 9,736 shares of the company’s stock valued at $538,000 after buying an additional 900 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Innovative Industrial Properties by 5.5% during the 2nd quarter. Hsbc Holdings PLC now owns 27,249 shares of the company’s stock valued at $1,502,000 after buying an additional 1,424 shares during the period. Finally, Capital Fund Management S.A. boosted its stake in shares of Innovative Industrial Properties by 40.5% in the 2nd quarter. Capital Fund Management S.A. now owns 27,557 shares of the company’s stock worth $1,522,000 after buying an additional 7,942 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IIPR has been the subject of a number of research reports. Weiss Ratings upgraded Innovative Industrial Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Piper Sandler boosted their price target on Innovative Industrial Properties from $43.00 to $44.00 and gave the company an “underweight” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $78.50.

Innovative Industrial Properties Trading Down 1.0%

NYSE:IIPR opened at $50.89 on Friday. Innovative Industrial Properties, Inc. has a one year low of $44.58 and a one year high of $109.33. The business has a fifty day moving average price of $51.67 and a 200-day moving average price of $53.91. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.06 and a beta of 1.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 2.75.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.02). The company had revenue of $64.69 million for the quarter, compared to the consensus estimate of $63.72 million. Innovative Industrial Properties had a net margin of 45.80% and a return on equity of 6.77%. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.25 EPS. Sell-side analysts forecast that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 14.9%. The ex-dividend date of this dividend was Tuesday, September 30th. Innovative Industrial Properties’s dividend payout ratio is currently 180.09%.

Insider Buying and Selling

In other news, CFO David Jon Smith acquired 600 shares of Innovative Industrial Properties stock in a transaction dated Thursday, November 20th. The stock was purchased at an average cost of $45.90 per share, with a total value of $27,540.00. Following the completion of the purchase, the chief financial officer directly owned 600 shares in the company, valued at approximately $27,540. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alan D. Gold acquired 2,600 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were purchased at an average price of $49.09 per share, for a total transaction of $127,634.00. Following the completion of the transaction, the chairman directly owned 2,600 shares in the company, valued at approximately $127,634. This trade represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 4,200 shares of company stock worth $201,434. 2.00% of the stock is owned by company insiders.

Innovative Industrial Properties 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.