Corient Private Wealth LP Invests $1.36 Million in Innovative Industrial Properties, Inc. $IIPR

Corient Private Wealth LP bought a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,008 shares of the company’s stock, valued at approximately $1,364,000. Corient Private Wealth LP owned about 0.08% of Innovative Industrial Properties as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IIPR. International Assets Investment Management LLC bought a new position in shares of Innovative Industrial Properties in the 4th quarter worth $25,000. Advisory Services Network LLC purchased a new stake in shares of Innovative Industrial Properties during the 3rd quarter valued at approximately $34,000. Los Angeles Capital Management LLC purchased a new position in Innovative Industrial Properties during the 4th quarter valued at about $35,000. Headlands Technologies LLC boosted its stake in Innovative Industrial Properties by 109.4% during the second quarter. Headlands Technologies LLC now owns 758 shares of the company’s stock valued at $42,000 after buying an additional 396 shares during the period. Finally, Triumph Capital Management purchased a new stake in Innovative Industrial Properties in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 70.58% of the company’s stock.

Insider Transactions at Innovative Industrial Properties

In other Innovative Industrial Properties news, Director Bruce Alan Ives bought 528 shares of Innovative Industrial Properties stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $56.70 per share, with a total value of $29,937.60. Following the completion of the acquisition, the director owned 3,180 shares in the company, valued at approximately $180,306. This represents a 19.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Innovative Industrial Properties Trading Up 0.2%

Shares of NYSE IIPR opened at $56.93 on Friday. The firm’s 50 day moving average price is $59.88 and its 200-day moving average price is $56.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 24.51 and a current ratio of 24.51. Innovative Industrial Properties, Inc. has a 52-week low of $44.58 and a 52-week high of $65.38. The company has a market cap of $1.57 billion, a PE ratio of 12.91 and a beta of 1.35.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Monday, August 3rd. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.34. Innovative Industrial Properties had a return on equity of 7.73% and a net margin of 52.27%.The firm had revenue of $63.31 million for the quarter, compared to the consensus estimate of $67.09 million. On average, equities research analysts expect that Innovative Industrial Properties, Inc. will post 7.05 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 13.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 172.34%.

Analyst Ratings Changes

IIPR has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Innovative Industrial Properties from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Piper Sandler raised their price target on Innovative Industrial Properties from $45.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Innovative Industrial Properties has a consensus rating of “Reduce” and a consensus price target of $48.00.

Innovative Industrial Properties Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.