EntryPoint Capital LLC Purchases Shares of 3,756 Innovative Industrial Properties, Inc. (NYSE:IIPR)

EntryPoint Capital LLC acquired a new position in Innovative Industrial Properties, Inc. (NYSE:IIPR) in the fourth quarter, HoldingsChannel reports. The firm acquired 3,756 shares of the company’s stock, valued at approximately $250,000.

A number of other institutional investors also recently made changes to their positions in the business. Bogart Wealth LLC purchased a new position in Innovative Industrial Properties in the 4th quarter worth $27,000. Compass Financial Services Inc bought a new position in shares of Innovative Industrial Properties during the fourth quarter valued at about $32,000. Smartleaf Asset Management LLC increased its holdings in shares of Innovative Industrial Properties by 182.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock worth $43,000 after buying an additional 417 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Innovative Industrial Properties by 3,130.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after acquiring an additional 407 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Innovative Industrial Properties during the 4th quarter valued at about $77,000. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Insiders Place Their Bets

In other news, Director David Stecher sold 7,599 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $70.55, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Innovative Industrial Properties Trading Down 2.0 %

NYSE:IIPR opened at $63.77 on Friday. Innovative Industrial Properties, Inc. has a 12 month low of $61.72 and a 12 month high of $138.35. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $70.26 and a 200-day moving average price of $95.48. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 11.53 and a beta of 1.49.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 EPS 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 business had revenue of $76.74 million during the quarter, compared to analyst estimates of $76.21 million. Equities analysts predict that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.90 dividend. The ex-dividend date is Monday, March 31st. This represents a $7.60 annualized dividend and a yield of 11.92%. Innovative Industrial Properties’s payout ratio is 137.43%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Roth Mkm decreased their price target on Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Compass Point decreased their target price on shares of Innovative Industrial Properties from $78.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler dropped their price target on shares of Innovative Industrial Properties from $70.00 to $60.00 and set an “underweight” rating for the company in a research report on Monday, March 17th. Alliance Global Partners cut shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 23rd. Finally, Industrial Alliance Securities set a $60.00 target price on shares of Innovative Industrial Properties in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Innovative Industrial Properties currently has an average rating of “Hold” and an average target price of $88.00.

Innovative Industrial Properties 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.