Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Bought by Centaurus Financial Inc.

Centaurus Financial Inc. increased its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 36.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,002 shares of the company’s stock after acquiring an additional 3,230 shares during the quarter. Centaurus Financial Inc.’s holdings in Innovative Industrial Properties were worth $1,615,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IIPR. USA Financial Formulas purchased a new stake in Innovative Industrial Properties during the 3rd quarter worth approximately $25,000. US Bancorp DE boosted its stake in Innovative Industrial Properties by 75.3% during the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock valued at $59,000 after acquiring an additional 189 shares during the last quarter. Blue Trust Inc. boosted its stake in Innovative Industrial Properties by 2,085.7% during the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock valued at $48,000 after acquiring an additional 438 shares during the last quarter. Signaturefd LLC grew its holdings in Innovative Industrial Properties by 42.3% during the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $55,000 after acquiring an additional 150 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Innovative Industrial Properties by 138.1% in the 2nd quarter. Federated Hermes Inc. now owns 538 shares of the company’s stock worth $59,000 after purchasing an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Wall Street Analysts Forecast Growth

IIPR has been the topic of several research analyst reports. Piper Sandler reduced their price target on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Wolfe Research upgraded Innovative Industrial Properties to a “hold” rating in a report on Monday, September 23rd. Finally, Compass Point upgraded Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Innovative Industrial Properties presently has an average rating of “Moderate Buy” and a consensus target price of $127.67.

Innovative Industrial Properties Stock Performance

Shares of NYSE IIPR opened at $107.12 on Monday. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $125.93 and its two-hundred day moving average price is $118.65. Innovative Industrial Properties, Inc. has a 52-week low of $78.10 and a 52-week high of $138.35. The stock has a market capitalization of $3.03 billion, a P/E ratio of 19.06 and a beta of 1.37.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.76). The company had revenue of $76.53 million during the quarter, compared to the consensus estimate of $77.30 million. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the business posted $2.29 EPS. As a group, sell-side analysts forecast that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.90 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $7.60 annualized dividend and a dividend yield of 7.09%. Innovative Industrial Properties’s dividend payout ratio is currently 135.23%.

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.