Deutsche Bank AG Has $2.28 Million Stock Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Deutsche Bank AG raised its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 32.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,180 shares of the company's stock after purchasing an additional 8,408 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of Innovative Industrial Properties worth $2,278,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IIPR. Pacer Advisors Inc. acquired a new stake in Innovative Industrial Properties in the fourth quarter worth about $42,006,000. Norges Bank bought a new position in shares of Innovative Industrial Properties in the 4th quarter valued at about $22,635,000. Balyasny Asset Management L.P. bought a new position in shares of Innovative Industrial Properties in the 4th quarter valued at about $9,615,000. Cambiar Investors LLC grew its position in shares of Innovative Industrial Properties by 370.0% during the 4th quarter. Cambiar Investors LLC now owns 108,284 shares of the company's stock worth $7,216,000 after buying an additional 85,244 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Innovative Industrial Properties by 25.8% during 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 last quarter. 70.58% of the stock is owned by institutional investors.

Innovative Industrial Properties Trading Down 0.8%

NYSE:IIPR traded down $0.46 on Wednesday, reaching $56.16. The company's stock had a trading volume of 20,241 shares, compared to its average volume of 339,615. Innovative Industrial Properties, Inc. has a 1-year low of $45.44 and a 1-year high of $138.35. The business's 50-day moving average price is $54.82 and its two-hundred day moving average price is $71.86. The firm has a market cap of $1.57 billion, a PE ratio of 10.16 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). The business had revenue of $71.72 million during the quarter, compared to analyst estimates of $72.20 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. Innovative Industrial Properties's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Equities research analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 13.53%. The ex-dividend date of this dividend was Monday, March 31st. Innovative Industrial Properties's dividend payout ratio (DPR) is presently 146.15%.

Analyst Upgrades and Downgrades

IIPR has been the topic of a number of recent research reports. Wolfe Research assumed coverage on shares of Innovative Industrial Properties in a research note on Wednesday, April 23rd. They issued an "outperform" rating and a $57.00 price objective on the stock. Compass Point restated a "sell" rating and issued a $50.00 price target (down from $60.00) on shares of Innovative Industrial Properties in a research report on Monday, March 31st. Roth Mkm dropped their price objective on 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 cut their target price on Innovative Industrial Properties from $55.00 to $45.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Industrial Alliance Securities restated a "neutral" rating on shares of Innovative Industrial Properties in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $78.67.

Insiders Place Their Bets

In other Innovative Industrial Properties news, Director David Stecher sold 7,599 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the sale, the director now directly owns 1,346 shares of the company's stock, valued at $94,960.30. The trade was a 84.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.00% of the company's stock.

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.