Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 177,766 shares of the company’s stock after acquiring an additional 19,546 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Innovative Industrial Properties were worth $11,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Roberts Glore & Co. Inc. IL boosted its holdings in Innovative Industrial Properties by 4.6% in the 4th quarter. Roberts Glore & Co. Inc. IL now owns 3,920 shares of the company’s stock valued at $261,000 after purchasing an additional 172 shares during the last quarter. US Bancorp DE boosted its holdings in Innovative Industrial Properties by 75.3% in the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock valued at $59,000 after purchasing an additional 189 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in Innovative Industrial Properties by 3.6% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock valued at $378,000 after purchasing an additional 200 shares during the last quarter. KBC Group NV boosted its holdings in Innovative Industrial Properties by 28.2% in the 3rd quarter. KBC Group NV now owns 940 shares of the company’s stock valued at $127,000 after purchasing an additional 207 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Innovative Industrial Properties by 11.6% in the 3rd quarter. Captrust Financial Advisors now owns 2,050 shares of the company’s stock valued at $276,000 after purchasing an additional 213 shares during the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock opened at $70.87 on Thursday. The company’s 50 day simple moving average is $70.44 and its 200-day simple moving average is $100.35. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.81 and a beta of 1.49. Innovative Industrial Properties, Inc. has a 1 year low of $62.45 and a 1 year high of $138.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. The firm had revenue of $76.74 million for the quarter, compared to the consensus estimate of $76.21 million. As a group, equities research analysts expect that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 10.72%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s payout ratio is currently 137.43%.

Insider Buying and Selling

In related news, Director David Stecher sold 7,599 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the sale, the director now directly owns 1,346 shares of the company’s stock, valued at $94,960.30. This represents a 84.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Roth Mkm decreased their target price on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Compass Point lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $78.00 in a report on Friday, December 20th. Piper Sandler downgraded shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $118.00 to $70.00 in a research note on Friday, December 20th. Finally, Alliance Global Partners downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $102.00.

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.