22,245 Shares in Innovative Industrial Properties, Inc. $IIPR Purchased by Versor Investments LP

Key Points

• Versor Investments LP has invested approximately $1.20 million in Innovative Industrial Properties, acquiring 22,245 shares and representing 0.08% ownership as of the latest SEC filing.
• Wolfe Research downgraded the stock rating of Innovative Industrial Properties from "outperform" to "peer perform," with a current consensus rating of "Hold" and a price target of $78.67.
• The company announced a $1.90 quarterly dividend, yielding 14.5%, with a payout ratio of 164.50%, indicating a significant return to shareholders despite recent financial challenges.

Versor Investments LP acquired a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 22,245 shares of the company's stock, valued at approximately $1,203,000. Versor Investments LP owned 0.08% of Innovative Industrial Properties as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in IIPR. PSI Advisors LLC raised its position in Innovative Industrial Properties by 454.5% during the first quarter. PSI Advisors LLC now owns 610 shares of the company's stock worth $33,000 after acquiring an additional 500 shares during the period. SSA Swiss Advisors AG acquired a new stake in shares of Innovative Industrial Properties in the first quarter valued at about $33,000. GF Fund Management CO. LTD. acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $34,000. Signaturefd LLC raised its position in shares of 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 buying an additional 251 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $56,000. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wolfe Research cut shares of 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 assigned a Hold rating and two have assigned a Sell 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 price target of $78.67.

Innovative Industrial Properties Price Performance

Shares of NYSE IIPR traded up $2.7450 during mid-day trading on Friday, reaching $54.8450. The company's stock had a trading volume of 337,279 shares, compared to its average volume of 373,773. The stock has a 50-day moving average of $54.22 and a two-hundred day moving average of $58.40. The stock has a market capitalization of $1.54 billion, a P/E ratio of 11.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.30 and a current ratio of 10.30. 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 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 business had revenue of $62.89 million during the quarter, compared to analysts' expectations of $64.36 million. During the same period in the prior year, the business earned $2.06 earnings per share. The company's quarterly revenue was down 21.2% 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 13.9%. The ex-dividend date was Monday, June 30th. Innovative Industrial Properties's dividend payout ratio (DPR) 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.