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        Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by Patriot Financial Group Insurance Agency LLC

        Financial News Live ·  03/23 22:14

        Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Rating) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,124 shares of the company's stock after buying an additional 278 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Innovative Industrial Properties were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

        A number of other institutional investors and hedge funds have also modified their holdings of IIPR. Private Advisor Group LLC grew its holdings in shares of Innovative Industrial Properties by 41.5% during the first quarter. Private Advisor Group LLC now owns 2,344 shares of the company's stock valued at $481,000 after buying an additional 687 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Innovative Industrial Properties by 8.1% during the first quarter. Bank of Montreal Can now owns 9,019 shares of the company's stock valued at $1,893,000 after buying an additional 676 shares in the last quarter. MetLife Investment Management LLC boosted its position in Innovative Industrial Properties by 55.5% during the first quarter. MetLife Investment Management LLC now owns 12,587 shares of the company's stock valued at $2,585,000 after purchasing an additional 4,492 shares during the last quarter. Rhumbline Advisers boosted its position in Innovative Industrial Properties by 8.2% during the first quarter. Rhumbline Advisers now owns 64,743 shares of the company's stock valued at $13,298,000 after purchasing an additional 4,898 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Innovative Industrial Properties by 6.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 42,089 shares of the company's stock worth $8,914,000 after purchasing an additional 2,556 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company's stock.

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        Innovative Industrial Properties Price Performance

        Shares of NYSE:IIPR opened at $75.26 on Thursday. Innovative Industrial Properties, Inc. has a fifty-two week low of $75.15 and a fifty-two week high of $211.17. The business has a 50-day moving average of $88.80 and a two-hundred day moving average of $98.01. The stock has a market capitalization of $2.11 billion, a P/E ratio of 13.63 and a beta of 1.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 27.14 and a quick ratio of 27.14.

        Innovative Industrial Properties (NYSE:IIPR – Get Rating) last posted its quarterly earnings data on Monday, February 27th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.80 by ($0.34). The business had revenue of $70.46 million during the quarter, compared to the consensus estimate 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 research analysts predict that Innovative Industrial Properties, Inc. will post 7.75 EPS for the current fiscal year.

        Innovative Industrial Properties Dividend Announcement

        The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a $1.80 dividend. The ex-dividend date is Thursday, March 30th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 9.57%. Innovative Industrial Properties's payout ratio is presently 130.43%.

        Analyst Upgrades and Downgrades

        A number of equities analysts recently commented on IIPR shares. JMP Securities downgraded Innovative Industrial Properties from an "outperform" rating to a "market perform" rating in a report on Friday, January 20th. Craig Hallum reduced their price objective on shares of Innovative Industrial Properties from $140.00 to $125.00 in a research note on Wednesday, March 1st. Piper Sandler lowered their target price on shares of Innovative Industrial Properties from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 1st. BTIG Research reduced their price target on Innovative Industrial Properties from $196.00 to $179.00 and set a "buy" rating for the company in a research report on Tuesday, January 24th. Finally, TheStreet cut Innovative Industrial Properties from a "b-" rating to a "c+" rating in a research report on Monday, February 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $153.17.

        Innovative Industrial Properties 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.

        Read More

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        Want to see what other hedge funds are holding IIPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Rating).

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