Innovative Industrial Properties, Inc. $IIPR Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its holdings in Innovative Industrial Properties by 308.8% in Q1, ending with 35,303 shares valued at approximately $1.91 million.
• Wolfe Research downgraded the stock's rating from "outperform" to "peer perform", with the consensus rating currently at "Hold" and an average price target of $78.67.
• Innovative Industrial Properties declared a quarterly dividend of $1.90, resulting in an annualized dividend of $7.60 and a high yield of 14.6%.

Quantbot Technologies LP increased its position in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 308.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,303 shares of the company's stock after acquiring an additional 26,667 shares during the period. Quantbot Technologies LP owned about 0.13% of Innovative Industrial Properties worth $1,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new position in shares of Innovative Industrial Properties in the fourth quarter valued at about $34,000. SSA Swiss Advisors AG purchased a new stake in shares of Innovative Industrial Properties in the first quarter valued at approximately $33,000. PSI Advisors LLC lifted its holdings in Innovative Industrial Properties by 454.5% during the first quarter. PSI Advisors LLC now owns 610 shares of the company's stock worth $33,000 after buying an additional 500 shares during the period. Signaturefd LLC lifted its holdings in Innovative Industrial Properties by 49.7% during the first quarter. Signaturefd LLC now owns 756 shares of the company's stock worth $41,000 after buying an additional 251 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Innovative Industrial Properties during the fourth quarter worth $56,000. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wolfe Research downgraded Innovative Industrial Properties from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $78.67.

Innovative Industrial Properties Stock Performance

NYSE IIPR traded up $0.37 during trading hours on Wednesday, hitting $55.30. The company had a trading volume of 55,975 shares, compared to its average volume of 324,627. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.30 and a current ratio of 10.30. Innovative Industrial Properties, Inc. has a 1-year low of $45.44 and a 1-year high of $138.35. The company has a market cap of $1.55 billion, a PE ratio of 11.96 and a beta of 1.65. The business has a 50 day moving average of $54.14 and a 200-day moving average of $58.04.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.03. Innovative Industrial Properties had a net margin of 47.71% and a return on equity of 7.26%. The firm had revenue of $62.89 million during the quarter, compared to analysts' expectations of $64.36 million. During the same period in the prior year, the company posted $2.06 earnings per share. The firm's revenue for the quarter was down 21.2% on a year-over-year basis. As a group, equities research analysts expect that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $1.90 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $7.60 dividend on an annualized basis and a yield of 13.7%. Innovative Industrial Properties's dividend payout ratio (DPR) is currently 164.50%.

About Innovative Industrial Properties

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.