Louisiana State Employees Retirement System Invests $1.41 Million in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Louisiana State Employees Retirement System acquired a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,000 shares of the company's stock, valued at approximately $1,411,000.

Several other large investors also recently bought and sold shares of IIPR. Headlands Technologies LLC purchased a new stake in shares of Innovative Industrial Properties in the third quarter valued at about $25,000. Lazard Asset Management LLC raised its holdings in shares of Innovative Industrial Properties by 112.9% in the first quarter. Lazard Asset Management LLC now owns 396 shares of the company's stock valued at $81,000 after buying an additional 210 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $40,000. Independence Bank of Kentucky raised its holdings in shares of Innovative Industrial Properties by 82.9% in the fourth quarter. Independence Bank of Kentucky now owns 640 shares of the company's stock valued at $65,000 after buying an additional 290 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in Innovative Industrial Properties by 61.4% during the first quarter. Centaurus Financial Inc. now owns 649 shares of the company's stock worth $133,000 after purchasing an additional 247 shares in the last quarter. Institutional investors and hedge funds own 70.58% of the company's stock.

Innovative Industrial Properties Stock Performance

NYSE IIPR traded up $0.35 during trading hours on Friday, hitting $94.23. 161,207 shares of the stock were exchanged, compared to its average volume of 201,124. 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 50-day moving average of $97.10 and a 200 day moving average of $90.21. Innovative Industrial Properties, Inc. has a 12-month low of $63.36 and a 12-month high of $105.81. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 16.33 and a beta of 1.49.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last issued its 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). 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 analyst estimates of $76.55 million. As a group, equities research analysts forecast that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $1.82 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $7.28 annualized dividend and a yield of 7.73%. Innovative Industrial Properties's payout ratio is currently 126.17%.

Analysts Set New Price Targets

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

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.