Jump Financial LLC Acquires 44,599 Shares of Innovative Industrial Properties, Inc. $IIPR

Key Points

• Jump Financial LLC increased its stake in Innovative Industrial Properties, Inc. by 352.6% during the first quarter, acquiring an additional 44,599 shares, bringing its total ownership to 57,246 shares valued at approximately $3.1 million.
• The company reported $1.71 EPS for the last quarter, exceeding analysts' expectations, despite a 21.2% year-over-year revenue decline.
• Recently, Innovative Industrial Properties announced a quarterly dividend of $1.90 per share, translating to an annual yield of 13.8%.

Jump Financial LLC raised its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 352.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,246 shares of the company's stock after acquiring an additional 44,599 shares during the quarter. Jump Financial LLC owned about 0.20% of Innovative Industrial Properties worth $3,096,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

Innovative Industrial Properties Stock Up 0.4%

IIPR traded up $0.22 during trading on Monday, reaching $56.52. The company had a trading volume of 238,202 shares, compared to its average volume of 392,493. The company has a debt-to-equity ratio of 0.16, a current ratio of 10.30 and a quick ratio of 10.30. Innovative Industrial Properties, Inc. has a 12 month low of $45.44 and a 12 month high of $138.35. The business's fifty day moving average price is $54.02 and its 200 day moving average price is $57.43. The company has a market cap of $1.58 billion, a P/E ratio of 12.23 and a beta of 1.61.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $64.36 million. During the same quarter in the previous year, the firm posted $2.06 earnings per share. The business's revenue was down 21.2% on a year-over-year basis. Equities analysts anticipate 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 $1.90 dividend. 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 13.4%. Innovative Industrial Properties's payout ratio is presently 164.50%.

Innovative Industrial Properties Company 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.