Janus Henderson Group PLC Grows Stake in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Janus Henderson Group PLC lifted its position in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,186 shares of the company's stock after purchasing an additional 5,636 shares during the quarter. Janus Henderson Group PLC owned approximately 0.09% of Innovative Industrial Properties worth $1,612,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IIPR. Bogart Wealth LLC acquired a new stake in shares of Innovative Industrial Properties in the 4th quarter valued at about $27,000. Compass Financial Services Inc acquired a new stake in shares of Innovative Industrial Properties in the 4th quarter valued at about $32,000. Smartleaf Asset Management LLC boosted its position in shares of Innovative Industrial Properties by 182.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the company's stock valued at $43,000 after purchasing an additional 417 shares during the period. Headlands Technologies LLC acquired a new stake in Innovative Industrial Properties during the 4th quarter worth approximately $50,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Innovative Industrial Properties in the 4th quarter valued at approximately $57,000. 70.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $70.55, for a total value of $536,109.45. Following the completion of the transaction, the director now directly owns 1,346 shares of the company's stock, valued at $94,960.30. This trade represents a 84.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IIPR. Roth Mkm lowered their target price on Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Industrial Alliance Securities reiterated a "neutral" rating on shares of Innovative Industrial Properties in a research note on Tuesday, April 1st. Piper Sandler lowered 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. 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 research note on Monday, March 31st. Finally, Wolfe Research began coverage on Innovative Industrial Properties in a research note on Wednesday, April 23rd. They issued an "outperform" rating and a $57.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Innovative Industrial Properties presently has a consensus rating of "Hold" and an average target price of $78.67.

Innovative Industrial Properties Price Performance

Shares of IIPR traded up $1.11 during mid-day trading on Tuesday, hitting $56.64. The company's stock had a trading volume of 253,268 shares, compared to its average volume of 272,063. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $54.82 and a 200 day simple moving average of $71.86. The firm has a market capitalization of $1.59 billion, a P/E ratio of 10.24 and a beta of 1.73. Innovative Industrial Properties, Inc. has a 1-year low of $45.44 and a 1-year high of $138.35.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.94 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%. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 earnings per share. Analysts predict that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 13.42%. The ex-dividend date of this dividend was Monday, March 31st. Innovative Industrial Properties's payout ratio is currently 146.15%.

Innovative Industrial Properties Profile

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.