Campbell & CO Investment Adviser LLC Buys 6,070 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Campbell & CO Investment Adviser LLC boosted its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPRFree Report) by 87.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,988 shares of the company’s stock after acquiring an additional 6,070 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Innovative Industrial Properties were worth $983,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in Innovative Industrial Properties by 177.8% during the second quarter. Fifth Third Bancorp now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 240 shares during the last quarter. Lazard Asset Management LLC increased its position in Innovative Industrial Properties by 112.9% in the first quarter. Lazard Asset Management LLC now owns 396 shares of the company’s stock worth $81,000 after buying an additional 210 shares in the last quarter. Centaurus Financial Inc. increased its position in Innovative Industrial Properties by 61.4% in the first quarter. Centaurus Financial Inc. now owns 649 shares of the company’s stock worth $133,000 after buying an additional 247 shares in the last quarter. Cerity Partners LLC purchased a new stake in Innovative Industrial Properties in the first quarter worth about $361,000. Finally, Global Retirement Partners LLC increased its position in Innovative Industrial Properties by 67.6% in the third quarter. Global Retirement Partners LLC now owns 796 shares of the company’s stock worth $58,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 69.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on IIPR shares. Piper Sandler upped their price target on Innovative Industrial Properties from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. TheStreet upgraded Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Innovative Industrial Properties currently has an average rating of “Hold” and an average price target of $86.67.

Check Out Our Latest Stock Analysis on IIPR

Insider Transactions at Innovative Industrial Properties

In related news, Director David Stecher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $80.75, for a total transaction of $201,875.00. Following the completion of the transaction, the director now directly owns 7,529 shares of the company’s stock, valued at $607,966.75. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Innovative Industrial Properties Stock Performance

NYSE IIPR opened at $91.60 on Friday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 15.85 and a beta of 1.53. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $94.71 and a 200-day moving average price of $84.40. Innovative Industrial Properties, Inc. has a twelve month low of $63.36 and a twelve month high of $105.07.

Innovative Industrial Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were paid a $1.82 dividend. This is a positive change from Innovative Industrial Properties’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $7.28 dividend on an annualized basis and a dividend yield of 7.95%. Innovative Industrial Properties’s dividend payout ratio is 125.95%.

Innovative Industrial Properties Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Innovative Industrial Properties (NYSE:IIPR)

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