Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 62.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,137 shares of the company's stock after selling 18,811 shares during the quarter. SG Americas Securities LLC's holdings in Innovative Industrial Properties were worth $1,123,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IIPR. Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $1,472,000. Victory Capital Management Inc. grew its position in shares of Innovative Industrial Properties by 250.7% in the 3rd quarter. Victory Capital Management Inc. now owns 16,712 shares of the company's stock worth $1,264,000 after acquiring an additional 11,947 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Innovative Industrial Properties by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 363,500 shares of the company's stock worth $27,502,000 after acquiring an additional 12,026 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in Innovative Industrial Properties by 87.7% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 12,988 shares of the company's stock valued at $983,000 after purchasing an additional 6,070 shares during the period. Finally, Bryn Mawr Capital Management LLC acquired a new position in Innovative Industrial Properties during the 3rd quarter valued at approximately $1,384,000. Hedge funds and other institutional investors own 70.58% of the company's stock.

Innovative Industrial Properties Price Performance

Shares of IIPR traded down $0.81 during midday trading on Friday, reaching $103.54. The stock had a trading volume of 255,039 shares, compared to its average volume of 248,100. Innovative Industrial Properties, Inc. has a 52 week low of $63.36 and a 52 week high of $105.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. The firm's 50 day moving average price is $95.65 and its 200-day moving average price is $88.26. The company has a market capitalization of $2.92 billion, a P/E ratio of 17.94 and a beta of 1.49.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.62). The business had revenue of $79.16 million for the quarter, compared to analyst estimates of $76.55 million. Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. On average, analysts forecast that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $1.82 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $7.28 dividend on an annualized basis and a yield of 7.03%. Innovative Industrial Properties's dividend payout ratio (DPR) is currently 126.17%.

Analyst Ratings Changes

A number of research analysts recently issued reports on IIPR shares. Piper Sandler boosted their price objective on Innovative Industrial Properties from $85.00 to $103.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. TheStreet upgraded Innovative Industrial Properties from a "c+" rating to a "b-" rating in a research report on Wednesday, January 10th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, Innovative Industrial Properties currently has a consensus rating of "Hold" and an average target price of $92.67.

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.