Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,316 shares of the company's stock, valued at approximately $1,820,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.10% of Innovative Industrial Properties at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IIPR. Barclays PLC grew its position in shares of Innovative Industrial Properties by 187.5% during the 3rd quarter. Barclays PLC now owns 47,988 shares of the company's stock worth $6,459,000 after purchasing an additional 31,295 shares in the last quarter. Blue Trust Inc. grew its position in shares of Innovative Industrial Properties by 30.5% during the 4th quarter. Blue Trust Inc. now owns 1,661 shares of the company's stock worth $111,000 after purchasing an additional 388 shares in the last quarter. KBC Group NV grew its position in shares of Innovative Industrial Properties by 37.1% during the 4th quarter. KBC Group NV now owns 1,289 shares of the company's stock worth $86,000 after purchasing an additional 349 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Innovative Industrial Properties during the 4th quarter worth approximately $32,000. Finally, Bristlecone Advisors LLC grew its position in shares of Innovative Industrial Properties by 4.6% during the 4th quarter. Bristlecone Advisors LLC now owns 13,177 shares of the company's stock worth $878,000 after purchasing an additional 577 shares in the last quarter. Institutional investors own 70.58% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Industrial Alliance Securities reiterated a "neutral" rating on shares of Innovative Industrial Properties in a research report on Tuesday, April 1st. Compass Point reiterated a "sell" rating and set a $50.00 price target (down previously from $60.00) on shares of Innovative Industrial Properties in a research report on Monday, March 31st. Roth Mkm reduced their price target on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Wolfe Research began coverage on shares of Innovative Industrial Properties in a research report on Wednesday, April 23rd. They set an "outperform" rating and a $57.00 price target on the stock. Finally, Piper Sandler cut their target price on shares of Innovative Industrial Properties from $55.00 to $45.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $78.67.

Innovative Industrial Properties Stock Up 1.0%

Innovative Industrial Properties stock traded up $0.57 during midday trading on Friday, hitting $55.35. 29,846 shares of the stock were exchanged, compared to its average volume of 272,513. Innovative Industrial Properties, Inc. has a 52-week low of $45.44 and a 52-week high of $138.35. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 10.01 and a beta of 1.73. The business's 50-day moving average price is $53.70 and its 200-day moving average price is $69.72. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.12). Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. The firm had revenue of $71.72 million for the quarter, compared to analysts' expectations of $72.20 million. During the same quarter last year, the firm posted $2.21 earnings per share. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, research analysts expect that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 13.73%. The ex-dividend date of this dividend was Monday, March 31st. Innovative Industrial Properties's dividend payout ratio (DPR) is presently 146.15%.

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.