16,700 Shares in Innovative Industrial Properties, Inc. (NYSE:IIPR) Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC acquired a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,700 shares of the company's stock, valued at approximately $1,113,000. Schonfeld Strategic Advisors LLC owned about 0.06% of Innovative Industrial Properties at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Summit Investment Advisors Inc. increased its holdings in shares of Innovative Industrial Properties by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,948 shares of the company's stock valued at $196,000 after purchasing an additional 160 shares during the last quarter. Roberts Glore & Co. Inc. IL raised its holdings in shares of Innovative Industrial Properties by 4.6% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 3,920 shares of the company's stock worth $261,000 after acquiring an additional 172 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Innovative Industrial Properties by 2.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 9,543 shares of the company's stock valued at $636,000 after acquiring an additional 192 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in shares of Innovative Industrial Properties by 4.3% in the fourth quarter. Pinebridge Investments L.P. now owns 4,677 shares of the company's stock valued at $312,000 after purchasing an additional 193 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its position in Innovative Industrial Properties by 3.6% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company's stock worth $378,000 after purchasing an additional 200 shares during the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Innovative Industrial Properties

In other news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $70.55, for a total value of $536,109.45. Following the completion of the transaction, the director now 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 filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock opened at $53.13 on Thursday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 9.61 and a beta of 1.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53. The business has a 50-day moving average of $58.57 and a 200 day moving average of $79.20. Innovative Industrial Properties, Inc. has a 12 month low of $45.44 and a 12 month high of $138.35.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. The firm's revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 earnings per share. As a group, sell-side analysts forecast that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 14.30%. The ex-dividend date of this dividend was Monday, March 31st. Innovative Industrial Properties's payout ratio is currently 137.43%.

Analyst Ratings Changes

IIPR has been the topic of several recent analyst reports. Piper Sandler decreased their target price on shares of Innovative Industrial Properties from $55.00 to $45.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. Roth Mkm cut their target price on Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Industrial Alliance Securities restated a "neutral" rating on shares of Innovative Industrial Properties in a research report on Tuesday, April 1st. Wolfe Research initiated coverage on Innovative Industrial Properties in a report on Wednesday, April 23rd. They set an "outperform" rating and a $57.00 price target for the company. Finally, Compass Point reaffirmed a "sell" rating and issued a $50.00 target price (down previously from $60.00) on shares of Innovative Industrial Properties in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Innovative Industrial Properties has an average rating of "Hold" and a consensus target price of $78.67.

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.

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