Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by US Bancorp DE

US Bancorp DE grew its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 12,793.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,733 shares of the company’s stock after purchasing an additional 56,293 shares during the quarter. US Bancorp DE owned approximately 0.20% of Innovative Industrial Properties worth $3,781,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bogart Wealth LLC acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $27,000. Compass Financial Services Inc purchased a new position in shares of Innovative Industrial Properties in the fourth quarter worth about $32,000. Canton Hathaway LLC purchased a new position in shares of Innovative Industrial Properties in the third quarter worth about $55,000. Loomis Sayles & Co. L P lifted its stake in shares of Innovative Industrial Properties by 3,130.8% in the third quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock worth $57,000 after buying an additional 407 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Innovative Industrial Properties in the fourth quarter worth about $77,000. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock opened at $72.51 on Thursday. The company’s 50 day simple moving average is $70.06 and its 200-day simple moving average is $102.07. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 13.11 and a beta of 1.49. Innovative Industrial Properties, Inc. has a 1 year low of $62.45 and a 1 year high of $138.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.22. The business had revenue of $76.74 million for the quarter, compared to the consensus estimate of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. As a group, equities research analysts expect that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 10.48%. The ex-dividend date of this dividend was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 137.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IIPR shares. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Roth Mkm reduced their target price on shares of 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 downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $125.00 to $78.00 in a research note on Friday, December 20th. Finally, BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Innovative Industrial Properties has an average rating of “Hold” and an average target price of $102.00.

Insider Activity at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total value of $536,109.45. Following the completion of the transaction, the director now owns 1,346 shares in the company, valued at approximately $94,960.30. The trade was a 84.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

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.