International Assets Investment Management LLC Invests $14.95 Million in Innovative Industrial Properties, Inc. (NYSE:IIPR)

International Assets Investment Management LLC bought a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 148,307 shares of the company's stock, valued at approximately $14,952,000. International Assets Investment Management LLC owned about 0.53% of Innovative Industrial Properties at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IIPR. Headlands Technologies LLC acquired a new position in shares of Innovative Industrial Properties in the 3rd quarter valued at $25,000. FNY Investment Advisers LLC acquired a new position in shares of Innovative Industrial Properties in the 4th quarter valued at $40,000. Global Retirement Partners LLC raised its stake in shares of Innovative Industrial Properties by 67.6% in the 3rd quarter. Global Retirement Partners LLC now owns 796 shares of the company's stock valued at $58,000 after buying an additional 321 shares in the last quarter. Headinvest LLC acquired a new position in shares of Innovative Industrial Properties in the 3rd quarter valued at $62,000. Finally, Independence Bank of Kentucky raised its stake in shares of Innovative Industrial Properties by 82.9% in the 4th quarter. Independence Bank of Kentucky now owns 640 shares of the company's stock valued at $65,000 after buying an additional 290 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Innovative Industrial Properties Price Performance

NYSE:IIPR traded down $0.72 during mid-day trading on Friday, reaching $98.26. 137,456 shares of the company were exchanged, compared to its average volume of 227,900. Innovative Industrial Properties, Inc. has a 12 month low of $63.36 and a 12 month high of $105.81. The company has a fifty day moving average of $96.73 and a 200 day moving average of $89.32. The company has a quick ratio of 14.22, a current ratio of 14.22 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.77 billion, a PE ratio of 17.03 and a beta of 1.49.

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

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date is Wednesday, March 27th. Innovative Industrial Properties's dividend payout ratio is currently 126.17%.

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.