Innovative Industrial Properties, Inc. (NYSE:IIPR) Position Boosted by Deutsche Bank AG

Deutsche Bank AG grew its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,180 shares of the company's stock after purchasing an additional 8,408 shares during the period. Deutsche Bank AG owned approximately 0.12% of Innovative Industrial Properties worth $2,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in IIPR. Vanguard Group Inc. boosted its holdings in shares of Innovative Industrial Properties by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 4,423,736 shares of the company's stock worth $294,798,000 after buying an additional 64,908 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Innovative Industrial Properties in the fourth quarter worth about $42,006,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Innovative Industrial Properties by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,553 shares of the company's stock worth $30,958,000 after buying an additional 7,179 shares during the period. Northern Trust Corp boosted its holdings in shares of Innovative Industrial Properties by 20.6% in the fourth quarter. Northern Trust Corp now owns 435,879 shares of the company's stock worth $29,047,000 after buying an additional 74,342 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Innovative Industrial Properties by 25.8% in the fourth quarter. Bank of New York Mellon Corp now owns 378,644 shares of the company's stock worth $25,233,000 after buying an additional 77,552 shares during the period. Institutional investors own 70.58% of the company's stock.

Innovative Industrial Properties Stock Performance

Shares of IIPR opened at $55.46 on Friday. The company's 50 day moving average price is $55.32 and its 200 day moving average price is $73.47. Innovative Industrial Properties, Inc. has a 52 week low of $45.44 and a 52 week high of $138.35. The company has a market capitalization of $1.55 billion, a PE ratio of 10.03 and a beta of 1.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.94 EPS 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 company had revenue of $71.72 million for the quarter, compared to analysts' expectations of $72.20 million. During the same period in the previous year, the firm posted $2.21 earnings per share. The business's revenue for the quarter was down 5.7% on a year-over-year basis. Research analysts expect that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 13.70%. The ex-dividend date was Monday, March 31st. Innovative Industrial Properties's payout ratio is presently 146.15%.

Analyst Ratings Changes

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

Insider Activity at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the transaction, the director now directly owns 1,346 shares of the company's stock, valued at approximately $94,960.30. The trade was a 84.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

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.

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