Versor Investments LP Has $559,000 Stock Position in Innovative Industrial Properties, Inc. $IIPR

Versor Investments LP reduced its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 54.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,128 shares of the company’s stock after selling 12,117 shares during the period. Versor Investments LP’s holdings in Innovative Industrial Properties were worth $559,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of IIPR. Principal Financial Group Inc. lifted its position in Innovative Industrial Properties by 2.6% during the first quarter. Principal Financial Group Inc. now owns 155,355 shares of the company’s stock worth $8,403,000 after acquiring an additional 3,961 shares during the last quarter. Principal Securities Inc. lifted its position in Innovative Industrial Properties by 25.4% during the first quarter. Principal Securities Inc. now owns 1,495 shares of the company’s stock worth $81,000 after acquiring an additional 303 shares during the last quarter. Alps Advisors Inc. acquired a new stake in Innovative Industrial Properties during the first quarter worth approximately $209,000. Signaturefd LLC lifted its position in Innovative Industrial Properties by 49.7% during the first quarter. Signaturefd LLC now owns 756 shares of the company’s stock worth $41,000 after acquiring an additional 251 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. acquired a new stake in Innovative Industrial Properties during the first quarter worth approximately $230,000. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Innovative Industrial Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $78.67.

Innovative Industrial Properties Trading Up 0.6%

Shares of NYSE:IIPR opened at $49.77 on Wednesday. The company has a market capitalization of $1.39 billion, a P/E ratio of 11.79 and a beta of 1.64. Innovative Industrial Properties, Inc. has a 1 year low of $45.44 and a 1 year high of $134.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.30 and a quick ratio of 10.30. The business’s 50 day simple moving average is $54.67 and its 200 day simple moving average is $54.62.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Monday, November 3rd. The company reported $1.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.02). The company had revenue of $64.69 million for the quarter, compared to analyst estimates of $63.72 million. Innovative Industrial Properties had a return on equity of 6.72% and a net margin of 45.80%.The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 EPS. On average, research analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 15.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Innovative Industrial Properties’s payout ratio is presently 164.50%.

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.