Baader Bank Aktiengesellschaft Buys 200 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Baader Bank Aktiengesellschaft lifted its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 3.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,700 shares of the company’s stock after acquiring an additional 200 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Innovative Industrial Properties were worth $378,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Bristlecone Advisors LLC increased its holdings in Innovative Industrial Properties by 0.8% during the 3rd 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. Dynamic Advisor Solutions LLC increased its stake in shares of Innovative Industrial Properties by 3.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 5,490 shares of the company’s stock valued at $739,000 after buying an additional 168 shares in the last quarter. USA Financial Formulas acquired a new position in Innovative Industrial Properties during the 3rd quarter worth about $25,000. US Bancorp DE grew its holdings in Innovative Industrial Properties by 75.3% during the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after acquiring an additional 189 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Innovative Industrial Properties by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 632 shares of the company’s stock valued at $85,000 after acquiring an additional 200 shares in the last quarter. 70.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IIPR has been the subject of a number of research reports. BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. JMP Securities reiterated a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $118.00 to $70.00 in a report on Friday, December 20th. Compass Point lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $78.00 in a research report on Friday, December 20th. Finally, Alliance Global Partners lowered Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $104.50.

Innovative Industrial Properties Stock Up 10.0 %

Shares of IIPR opened at $72.99 on Friday. The firm has a market cap of $2.07 billion, a P/E ratio of 12.99 and a beta of 1.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53. Innovative Industrial Properties, Inc. has a 52 week low of $62.45 and a 52 week high of $138.35. The firm’s 50-day simple moving average is $83.13 and its 200 day simple moving average is $109.60.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The company had revenue of $76.53 million for the quarter, compared to the consensus estimate of $77.30 million. Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 earnings per share. On average, analysts forecast that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.90 per share. The ex-dividend date was Tuesday, December 31st. This represents a $7.60 annualized dividend and a yield of 10.41%. Innovative Industrial Properties’s dividend payout ratio is currently 135.23%.

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.