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        Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by Swiss National Bank

        Financial News Live ·  03/18 01:55

        Swiss National Bank grew its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Rating) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,500 shares of the company's stock after buying an additional 1,200 shares during the quarter. Swiss National Bank owned 0.24% of Innovative Industrial Properties worth $6,841,000 as of its most recent SEC filing.

        Several other institutional investors and hedge funds have also modified their holdings of IIPR. Heritage Wealth Management LLC acquired a new position in Innovative Industrial Properties in the 2nd quarter worth about $25,000. CENTRAL TRUST Co raised its holdings in Innovative Industrial Properties by 4,545.5% in the 4th quarter. CENTRAL TRUST Co now owns 511 shares of the company's stock worth $52,000 after purchasing an additional 500 shares during the period. Lazard Asset Management LLC raised its holdings in Innovative Industrial Properties by 112.9% in the 1st quarter. Lazard Asset Management LLC now owns 396 shares of the company's stock worth $81,000 after purchasing an additional 210 shares during the period. IFP Advisors Inc increased its stake in Innovative Industrial Properties by 44.2% during the 3rd quarter. IFP Advisors Inc now owns 2,042 shares of the company's stock worth $83,000 after buying an additional 626 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in Innovative Industrial Properties by 195.7% during the 3rd quarter. Clearstead Advisors LLC now owns 961 shares of the company's stock worth $85,000 after buying an additional 636 shares in the last quarter. Institutional investors and hedge funds own 73.71% of the company's stock.

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        Wall Street Analysts Forecast Growth

        Several equities research analysts have commented on IIPR shares. StockNews.com started coverage on Innovative Industrial Properties in a research note on Thursday. They set a "hold" rating for the company. BTIG Research cut their price objective on Innovative Industrial Properties from $196.00 to $179.00 and set a "buy" rating for the company in a research note on Tuesday, January 24th. JMP Securities lowered Innovative Industrial Properties from an "outperform" rating to a "market perform" rating in a research note on Friday, January 20th. TheStreet lowered Innovative Industrial Properties from a "b-" rating to a "c+" rating in a research note on Monday, February 27th. Finally, Piper Sandler dropped their price target on Innovative Industrial Properties from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, March 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Innovative Industrial Properties has a consensus rating of "Moderate Buy" and a consensus target price of $153.17.

        Innovative Industrial Properties Price Performance

        Shares of IIPR stock traded down $1.64 during trading hours on Friday, reaching $80.30. The company had a trading volume of 154,009 shares, compared to its average volume of 359,388. The company has a debt-to-equity ratio of 0.15, a quick ratio of 27.14 and a current ratio of 27.14. The stock has a fifty day moving average of $90.74 and a 200-day moving average of $98.35. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 14.61 and a beta of 1.60. Innovative Industrial Properties, Inc. has a 12-month low of $78.61 and a 12-month high of $211.17.

        Innovative Industrial Properties (NYSE:IIPR – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.34). The business had revenue of $70.46 million during the quarter, compared to analysts' expectations of $68.60 million. Innovative Industrial Properties had a return on equity of 8.24% and a net margin of 55.86%. On average, equities analysts anticipate that Innovative Industrial Properties, Inc. will post 7.75 earnings per share for the current year.

        Innovative Industrial Properties Dividend Announcement

        The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be given a $1.80 dividend. The ex-dividend date is Thursday, March 30th. This represents a $7.20 annualized dividend and a yield of 8.97%. Innovative Industrial Properties's payout ratio is 130.43%.

        Innovative Industrial Properties Company Profile

        (Get Rating)

        Innovative Industrial Properties, Inc is a real estate investment trust, which engages in the acquisition, ownership, and management of industrial properties. It operates through the following geographical segments: Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington.

        Further Reading

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