Deutsche Bank AG purchased a new position in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,196 shares of the company's stock, valued at approximately $2,429,000. Deutsche Bank AG owned about 0.14% of Innovative Industrial Properties at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Innovative Industrial Properties in the 4th quarter worth about $25,000. Advisory Services Network LLC purchased a new stake in shares of Innovative Industrial Properties during the 3rd quarter valued at about $34,000. Los Angeles Capital Management LLC bought a new stake in shares of Innovative Industrial Properties in the fourth quarter worth approximately $35,000. Headlands Technologies LLC grew its stake in shares of Innovative Industrial Properties by 109.4% in the second quarter. Headlands Technologies LLC now owns 758 shares of the company's stock worth $42,000 after acquiring an additional 396 shares during the period. Finally, Triumph Capital Management purchased a new position in shares of Innovative Industrial Properties during the third quarter valued at approximately $44,000. 70.58% of the stock is owned by institutional investors.
Innovative Industrial Properties Stock Down 1.0%
Shares of IIPR stock opened at $56.47 on Friday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.80 and a beta of 1.38. Innovative Industrial Properties, Inc. has a one year low of $44.58 and a one year high of $65.38. The company's fifty day moving average price is $60.38 and its 200-day moving average price is $56.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 24.51 and a quick ratio of 24.51.
Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last posted its quarterly earnings results 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 return on equity of 7.73% and a net margin of 52.27%.The company had revenue of $63.31 million for the quarter, compared to analysts' expectations of $67.09 million. Sell-side analysts expect that Innovative Industrial Properties, Inc. will post 7.15 EPS for the current fiscal year.
Innovative Industrial Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 13.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Innovative Industrial Properties's dividend payout ratio (DPR) is presently 172.34%.
Analyst Ratings Changes
A number of research analysts recently weighed in on IIPR shares. Weiss Ratings upgraded shares of Innovative Industrial Properties from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Zacks Research downgraded shares of Innovative Industrial Properties from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 5th. Finally, Piper Sandler boosted their target price on shares of Innovative Industrial Properties from $45.00 to $51.00 and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Innovative Industrial Properties has an average rating of "Reduce" and a consensus price target of $48.00.
Read Our Latest Report on IIPR
Innovative Industrial Properties Company Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding IIPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Innovative Industrial Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Innovative Industrial Properties wasn't on the list.
While Innovative Industrial Properties currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
