Cambiar Investors LLC Boosts Stock Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Cambiar Investors LLC lifted its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 370.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,284 shares of the company’s stock after purchasing an additional 85,244 shares during the quarter. Cambiar Investors LLC owned 0.38% of Innovative Industrial Properties worth $7,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bristlecone Advisors LLC grew its holdings in shares of Innovative Industrial Properties by 0.8% in the third quarter. Bristlecone Advisors LLC now owns 12,600 shares of the company’s stock valued at $1,696,000 after purchasing an additional 103 shares in the last quarter. US Bancorp DE boosted its stake in Innovative Industrial Properties by 75.3% during the third quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after buying an additional 189 shares during the period. GAMMA Investing LLC boosted its stake in Innovative Industrial Properties by 46.3% during the third quarter. GAMMA Investing LLC now owns 632 shares of the company’s stock worth $85,000 after buying an additional 200 shares during the period. Baader Bank Aktiengesellschaft boosted its stake in Innovative Industrial Properties by 3.6% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock worth $378,000 after buying an additional 200 shares during the period. Finally, KBC Group NV boosted its stake in Innovative Industrial Properties by 28.2% during the third quarter. KBC Group NV now owns 940 shares of the company’s stock worth $127,000 after buying an additional 207 shares during the period. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties Stock Up 0.7 %

Shares of IIPR opened at $74.00 on Tuesday. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $78.05 and a 200-day moving average price of $107.14. The firm has a market capitalization of $2.10 billion, a P/E ratio of 13.17 and a beta of 1.40. Innovative Industrial Properties, Inc. has a 12-month low of $62.45 and a 12-month high of $138.35.

Innovative Industrial Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $1.90 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $7.60 annualized dividend and a dividend yield of 10.27%. Innovative Industrial Properties’s payout ratio is currently 135.23%.

Wall Street Analysts Forecast Growth

Several research firms have commented on IIPR. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Compass Point lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $78.00 in a research note on Friday, December 20th. Alliance Global Partners lowered shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. Finally, Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $118.00 to $70.00 in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.50.

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.