Vontobel Holding Ltd. Sells 595 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Vontobel Holding Ltd. decreased its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,940 shares of the company’s stock after selling 595 shares during the period. Vontobel Holding Ltd.’s holdings in Innovative Industrial Properties were worth $397,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in IIPR. Headlands Technologies LLC bought a new stake in Innovative Industrial Properties in the third quarter worth about $25,000. FNY Investment Advisers LLC bought a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at approximately $40,000. Global Retirement Partners LLC raised its position in shares of Innovative Industrial Properties by 67.6% in the third quarter. Global Retirement Partners LLC now owns 796 shares of the company’s stock valued at $58,000 after purchasing an additional 321 shares during the period. Headinvest LLC bought a new stake in shares of Innovative Industrial Properties in the third quarter valued at approximately $62,000. Finally, Independence Bank of Kentucky raised its position in shares of Innovative Industrial Properties by 82.9% in the fourth 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.

Innovative Industrial Properties Price Performance

Shares of NYSE:IIPR opened at $98.56 on Wednesday. The company has a 50 day moving average of $97.19 and a 200 day moving average of $90.38. The stock has a market cap of $2.78 billion, a P/E ratio of 17.08 and a beta of 1.49. Innovative Industrial Properties, Inc. has a 12 month low of $63.36 and a 12 month high of $105.81. The company has a current ratio of 14.22, a quick ratio of 14.22 and a debt-to-equity ratio of 0.16.

Innovative Industrial Properties (NYSE:IIPR) last issued 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 firm had revenue of $79.16 million for the quarter, compared to analysts’ expectations of $76.55 million. Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. As a group, sell-side analysts forecast that Innovative Industrial Properties, Inc. will post 8.49 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $1.82 per share. The ex-dividend date was Wednesday, March 27th. This represents a $7.28 annualized dividend and a yield of 7.39%. Innovative Industrial Properties’s dividend payout ratio is currently 126.17%.

Analysts Set New Price Targets

Several research firms have recently issued reports on IIPR. 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. TheStreet raised shares of Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.67.

Innovative Industrial Properties Company 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.