Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Bought by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC grew its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 42.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,236 shares of the company’s stock after acquiring an additional 3,915 shares during the period. Villanova Investment Management Co LLC’s holdings in Innovative Industrial Properties were worth $882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Bogart Wealth LLC acquired a new position in Innovative Industrial Properties during the 4th quarter worth $27,000. Compass Financial Services Inc purchased a new position in shares of Innovative Industrial Properties in the 4th quarter valued at about $32,000. Smartleaf Asset Management LLC grew its position in shares of Innovative Industrial Properties by 182.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock worth $43,000 after buying an additional 417 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Innovative Industrial Properties during the fourth quarter worth approximately $50,000. Finally, Sierra Ocean LLC acquired a new stake in Innovative Industrial Properties in the fourth quarter valued at approximately $77,000. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Insider Buying and Selling at Innovative Industrial Properties

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $70.55, for a total value of $536,109.45. Following the transaction, the director now directly owns 1,346 shares in the company, valued at approximately $94,960.30. This trade represents a 84.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Innovative Industrial Properties Stock Down 15.2 %

Innovative Industrial Properties stock opened at $54.08 on Tuesday. The company has a market capitalization of $1.53 billion, a P/E ratio of 9.78 and a beta of 1.49. 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, Inc. has a fifty-two week low of $49.51 and a fifty-two week high of $138.35. The stock has a 50-day simple moving average of $69.98 and a 200-day simple moving average of $94.55.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. The company had revenue of $76.74 million for the quarter, compared to analyst estimates of $76.21 million. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. 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 will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 14.05%. The ex-dividend date of this dividend is Monday, March 31st. Innovative Industrial Properties’s payout ratio is currently 137.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IIPR shares. Alliance Global Partners downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 23rd. Piper Sandler dropped their target price on Innovative Industrial Properties from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday. Roth Mkm decreased their price target on Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday, February 21st. Compass Point reaffirmed a “sell” rating and set a $50.00 price objective (down from $60.00) on shares of Innovative Industrial Properties in a research report on Monday. Finally, Industrial Alliance Securities set a $60.00 target price on Innovative Industrial Properties in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Innovative Industrial Properties presently has a consensus rating of “Hold” and a consensus price target of $85.00.

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.