33,000 Shares in Innovative Industrial Properties, Inc. (NYSE:IIPR) Bought by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC bought a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,000 shares of the company’s stock, valued at approximately $2,199,000. Quinn Opportunity Partners LLC owned approximately 0.12% of Innovative Industrial Properties at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bogart Wealth LLC acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter worth $27,000. Compass Financial Services Inc acquired a new position in Innovative Industrial Properties during the 4th quarter worth $32,000. Smartleaf Asset Management LLC lifted its position in Innovative Industrial Properties by 182.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock worth $43,000 after acquiring an additional 417 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $50,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $57,000. 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 David Stecher sold 7,599 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was 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 in the company, valued at $94,960.30. This represents a 84.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

Innovative Industrial Properties Stock Up 1.0 %

IIPR opened at $49.19 on Friday. The company has a market capitalization of $1.39 billion, a P/E ratio of 8.90 and a beta of 1.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. The firm’s fifty day moving average price is $65.99 and its two-hundred day moving average price is $88.78. Innovative Industrial Properties, Inc. has a fifty-two week low of $45.44 and a fifty-two week high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, meeting 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 for the quarter, compared to analyst estimates of $76.21 million. On average, analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $1.90 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.60 annualized dividend and a dividend yield of 15.45%. Innovative Industrial Properties’s dividend payout ratio is currently 137.43%.

Analyst Ratings Changes

Several analysts recently weighed in on IIPR shares. Piper Sandler decreased their target price on Innovative Industrial Properties from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Monday, March 31st. Alliance Global Partners downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. Industrial Alliance Securities reiterated a “neutral” rating on shares of Innovative Industrial Properties in a research note on Tuesday, April 1st. BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Finally, JMP Securities restated a “market perform” rating on shares of Innovative Industrial Properties in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.00.

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.