Strs Ohio Acquires New Shares in Innovative Industrial Properties, Inc. $IIPR

Key Points

• Strs Ohio has acquired a new position in Innovative Industrial Properties (IIPR), purchasing 5,300 shares valued at approximately $287,000 during the first quarter.
• The company has reported a quarterly EPS of $1.71, beating the consensus estimate of $1.68, although revenue decreased by 21.2% compared to the same quarter last year.
• Innovative Industrial Properties has announced a quarterly dividend of $1.90, resulting in a dividend yield of 13.7% and a dividend payout ratio of 164.50%.

Strs Ohio bought a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,300 shares of the company's stock, valued at approximately $287,000.

Several other large investors have also bought and sold shares of the stock. Signaturefd LLC raised its position in Innovative Industrial Properties by 49.7% during the 1st quarter. Signaturefd LLC now owns 756 shares of the company's stock worth $41,000 after purchasing an additional 251 shares during the last quarter. Principal Securities Inc. raised its position in Innovative Industrial Properties by 25.4% during the 1st quarter. Principal Securities Inc. now owns 1,495 shares of the company's stock worth $81,000 after purchasing an additional 303 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Innovative Industrial Properties by 6.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,927 shares of the company's stock worth $267,000 after purchasing an additional 319 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Innovative Industrial Properties by 1.5% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 27,727 shares of the company's stock worth $1,500,000 after purchasing an additional 411 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Innovative Industrial Properties by 0.5% during the 1st quarter. Rhumbline Advisers now owns 94,632 shares of the company's stock worth $5,119,000 after purchasing an additional 454 shares during the last quarter. 70.58% of the stock is owned by institutional investors.

Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock opened at $55.58 on Wednesday. The company has a current ratio of 10.30, a quick ratio of 10.30 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $54.09 and a two-hundred day moving average price of $55.76. The company has a market cap of $1.56 billion, a P/E ratio of 12.03 and a beta of 1.61. 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 issued its earnings results on Wednesday, August 6th. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.68 by $0.03. The company had revenue of $62.89 million during the quarter, compared to the consensus estimate of $64.36 million. Innovative Industrial Properties had a return on equity of 7.26% and a net margin of 47.71%.The firm's revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period last year, the business posted $2.06 EPS. As a group, analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $1.90 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $7.60 annualized dividend and a dividend yield of 13.7%. Innovative Industrial Properties's dividend payout ratio (DPR) is currently 164.50%.

Analyst Upgrades and Downgrades

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

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.

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