Hancock Whitney Corp Has $541,000 Stake in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Hancock Whitney Corp increased its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,227 shares of the company’s stock after purchasing an additional 124 shares during the period. Hancock Whitney Corp’s holdings in Innovative Industrial Properties were worth $541,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of IIPR. Vanguard Group Inc. raised its position in shares of Innovative Industrial Properties by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,410,907 shares of the company’s stock worth $456,705,000 after purchasing an additional 28,111 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Innovative Industrial Properties by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 378,945 shares of the company’s stock valued at $38,205,000 after buying an additional 15,445 shares during the last quarter. Norges Bank bought a new stake in Innovative Industrial Properties in the 4th quarter valued at about $31,116,000. Tidal Investments LLC boosted its position in Innovative Industrial Properties by 1,465.1% during the first quarter. Tidal Investments LLC now owns 236,929 shares of the company’s stock worth $24,532,000 after purchasing an additional 221,791 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Innovative Industrial Properties by 18.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 205,159 shares of the company’s stock valued at $21,242,000 after purchasing an additional 31,313 shares during the period. 70.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Roth Mkm raised their price objective on shares of Innovative Industrial Properties from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $112.67.

Innovative Industrial Properties Stock Down 2.2 %

NYSE:IIPR traded down $2.66 on Thursday, reaching $120.15. 118,800 shares of the stock traded hands, compared to its average volume of 207,790. The company’s fifty day simple moving average is $111.75 and its 200 day simple moving average is $103.16. Innovative Industrial Properties, Inc. has a 12 month low of $69.08 and a 12 month high of $125.44. The company has a current ratio of 14.27, a quick ratio of 14.27 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 21.09 and a beta of 1.37.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.74). Innovative Industrial Properties had a return on equity of 8.46% and a net margin of 53.07%. The business had revenue of $75.45 million during the quarter, compared to analysts’ expectations of $79.65 million. Equities analysts predict that Innovative Industrial Properties, Inc. will post 8.38 EPS for the current fiscal year.

Innovative Industrial Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 6.33%. This is an increase from Innovative Industrial Properties’s previous quarterly dividend of $1.82. The ex-dividend date of this dividend was Thursday, June 27th. Innovative Industrial Properties’s dividend payout ratio is presently 133.33%.

About Innovative Industrial Properties

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.