Compass Financial Management LLC Takes $4.47 Million Position in Innovative Industrial Properties, Inc. $IIPR

Key Points

• Compass Financial Management acquired 72,193 shares of Innovative Industrial Properties, valued at approximately $4.47 million, giving it a 0.26% stake. Institutional investors collectively own 70.58% of the company.
• Analyst sentiment remains cautious: IIPR has an average “Reduce” rating and a consensus price target of $48, despite Piper Sandler raising its target to $51 while maintaining an “underweight” rating.
• The company beat quarterly EPS estimates with $1.36 per share versus $1.02 expected, but revenue of $63.31 million fell short of estimates. IIPR also declared a $1.90 quarterly dividend, equivalent to a 13.3% yield, though its payout ratio is elevated at 172.34%.

Compass Financial Management LLC bought a new position in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 72,193 shares of the company's stock, valued at approximately $4,475,000. Compass Financial Management LLC owned about 0.26% of Innovative Industrial Properties as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Nykredit A S acquired a new position in Innovative Industrial Properties in the second quarter valued at about $25,000. Triumph Capital Management grew its stake in Innovative Industrial Properties by 112.9% during the second quarter. Triumph Capital Management now owns 905 shares of the company's stock worth $56,000 after buying an additional 480 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Innovative Industrial Properties by 3.4% during the second quarter. Sigma Planning Corp now owns 10,232 shares of the company's stock worth $634,000 after buying an additional 340 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Innovative Industrial Properties by 2.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 54,868 shares of the company's stock worth $3,401,000 after buying an additional 1,217 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Innovative Industrial Properties by 7.5% in the second quarter. Hsbc Holdings PLC now owns 55,831 shares of the company's stock valued at $3,460,000 after acquiring an additional 3,899 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IIPR shares. Piper Sandler boosted their target price on Innovative Industrial Properties from $45.00 to $51.00 and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Weiss Ratings raised Innovative Industrial Properties from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $48.00.

Innovative Industrial Properties Stock Performance

Innovative Industrial Properties stock opened at $56.93 on Friday. The stock has a 50-day simple moving average of $59.88 and a 200 day simple moving average of $56.40. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 12.91 and a beta of 1.35. The company has a quick ratio of 24.51, a current ratio of 24.51 and a debt-to-equity ratio of 0.35. Innovative Industrial Properties, Inc. has a 12-month low of $44.58 and a 12-month high of $65.38.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.34. Innovative Industrial Properties had a net margin of 52.27% and a return on equity of 7.73%. The firm had revenue of $63.31 million for the quarter, compared to analyst estimates of $67.09 million. On average, research analysts anticipate that Innovative Industrial Properties, Inc. will post 7.05 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 13.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Innovative Industrial Properties's dividend payout ratio is 172.34%.

Insider Buying and Selling at Innovative Industrial Properties

In related news, Director Bruce Alan Ives purchased 528 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $56.70 per share, with a total value of $29,937.60. Following the completion of the acquisition, the director directly owned 3,180 shares in the company, valued at approximately $180,306. This trade represents a 19.91% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.

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