Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Sold by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. reduced its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 1.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,597 shares of the company’s stock after selling 180 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in Innovative Industrial Properties were worth $839,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in Innovative Industrial Properties in the third quarter valued at $25,000. Canton Hathaway LLC acquired a new stake in Innovative Industrial Properties in the 3rd quarter valued at about $55,000. Loomis Sayles & Co. L P increased its holdings in Innovative Industrial Properties by 3,130.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after acquiring an additional 407 shares in the last quarter. US Bancorp DE raised its position in Innovative Industrial Properties by 75.3% during the third quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after acquiring an additional 189 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Innovative Industrial Properties by 46.3% in the third quarter. GAMMA Investing LLC now owns 632 shares of the company’s stock valued at $85,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Performance

Innovative Industrial Properties stock opened at $73.35 on Thursday. The stock has a fifty day moving average price of $80.20 and a 200 day moving average price of $108.23. Innovative Industrial Properties, Inc. has a 52 week low of $62.45 and a 52 week high of $138.35. The firm has a market capitalization of $2.08 billion, a P/E ratio of 13.05 and a beta of 1.40. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.15.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. The company had revenue of $76.53 million for the quarter, compared to analyst estimates of $77.30 million. During the same period in the prior year, the company earned $2.29 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. Equities research analysts anticipate that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.90 per share. The ex-dividend date was Tuesday, December 31st. This represents a $7.60 dividend on an annualized basis and a yield of 10.36%. Innovative Industrial Properties’s dividend payout ratio (DPR) is 135.23%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IIPR shares. Alliance Global Partners cut shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. Compass Point downgraded Innovative Industrial Properties from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $78.00 in a research report on Friday, December 20th. Piper Sandler cut Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $118.00 to $70.00 in a report on Friday, December 20th. BTIG Research lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Finally, JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $104.50.

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.