Monarch Partners Asset Management LLC Purchases New Holdings in Innovative Industrial Properties Inc (IIPR)

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Monarch Partners Asset Management LLC purchased a new position in shares of Innovative Industrial Properties Inc (NYSE:IIPR) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 18,642 shares of the company’s stock, valued at approximately $846,000. Monarch Partners Asset Management LLC owned 0.20% of Innovative Industrial Properties at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IIPR. BlackRock Inc. grew its holdings in Innovative Industrial Properties by 3,121.4% during the 2nd quarter. BlackRock Inc. now owns 413,951 shares of the company’s stock worth $15,158,000 after acquiring an additional 401,101 shares during the period. Emerald Mutual Fund Advisers Trust grew its holdings in Innovative Industrial Properties by 106.3% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 249,220 shares of the company’s stock worth $11,312,000 after acquiring an additional 128,421 shares during the period. Uniplan Investment Counsel Inc. acquired a new stake in Innovative Industrial Properties during the 3rd quarter worth about $2,673,000. Essex Investment Management Co. LLC grew its holdings in Innovative Industrial Properties by 33.8% during the 4th quarter. Essex Investment Management Co. LLC now owns 187,567 shares of the company’s stock worth $8,514,000 after acquiring an additional 47,370 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Innovative Industrial Properties during the 3rd quarter worth about $1,621,000. Hedge funds and other institutional investors own 35.68% of the company’s stock.

Shares of IIPR opened at $65.36 on Wednesday. The stock has a market capitalization of $609.93 million, a PE ratio of 97.55 and a beta of 1.62. Innovative Industrial Properties Inc has a one year low of $23.63 and a one year high of $68.21.

A number of brokerages have weighed in on IIPR. Zacks Investment Research upgraded Innovative Industrial Properties from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Saturday. BTIG Research began coverage on Innovative Industrial Properties in a research note on Monday, January 14th. They issued a “buy” rating and a $60.00 target price for the company. Finally, TheStreet upgraded Innovative Industrial Properties from a “c” rating to a “b-” rating in a research note on Friday, November 30th. Five investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $56.50.

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About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use 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.

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Institutional Ownership by Quarter for Innovative Industrial Properties (NYSE:IIPR)

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