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

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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 as of its most recent filing with the Securities and Exchange Commission.

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

Innovative Industrial Properties Stock Up 0.8%

Shares of NYSE:IIPR traded up $0.46 during midday trading on Friday, hitting $55.24. 143,536 shares of the company's stock traded hands, compared to its average volume of 273,558. The company has a debt-to-equity ratio of 0.16, a quick ratio of 11.53 and a current ratio of 14.32. The company has a market cap of $1.55 billion, a PE ratio of 9.99 and a beta of 1.73. The firm's fifty day moving average price is $53.69 and its two-hundred day moving average price is $69.37. Innovative Industrial Properties, Inc. has a twelve month low of $45.44 and a twelve month high of $138.35.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.94 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $72.20 million. During the same quarter in the prior year, the firm earned $2.21 EPS. The business's quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Monday, March 31st were issued a $1.90 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $7.60 dividend on an annualized basis and a yield of 13.76%. Innovative Industrial Properties's dividend payout ratio is currently 146.15%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IIPR shares. Compass Point reiterated a "sell" rating and issued a $50.00 price target (down previously from $60.00) on shares of Innovative Industrial Properties in a report on Monday, March 31st. Roth Mkm decreased 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 report on Friday, February 21st. Piper Sandler reduced 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 report on Tuesday, April 15th. Wolfe Research assumed coverage on shares of Innovative Industrial Properties in a report on Wednesday, April 23rd. They set an "outperform" rating and a $57.00 target price on the stock. Finally, Industrial Alliance Securities restated a "neutral" rating on shares of Innovative Industrial Properties in a report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Innovative Industrial Properties currently has a consensus rating of "Hold" and an average target price of $78.67.

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.