Significant Wealth Partners LLC Takes Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Significant Wealth Partners LLC acquired a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,503 shares of the company's stock, valued at approximately $2,067,000. Innovative Industrial Properties makes up about 1.5% of Significant Wealth Partners LLC's holdings, making the stock its 17th biggest position. Significant Wealth Partners LLC owned 0.07% of Innovative Industrial Properties at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Innovative Industrial Properties during the 3rd quarter valued at $25,000. FNY Investment Advisers LLC bought a new stake in shares of Innovative Industrial Properties during the 4th quarter valued at $40,000. Global Retirement Partners LLC lifted its position in shares of Innovative Industrial Properties by 67.6% during the 3rd quarter. Global Retirement Partners LLC now owns 796 shares of the company's stock valued at $58,000 after acquiring an additional 321 shares during the period. Headinvest LLC bought a new stake in shares of Innovative Industrial Properties during the 3rd quarter valued at $62,000. Finally, Independence Bank of Kentucky lifted its position in shares of Innovative Industrial Properties by 82.9% during the 4th quarter. Independence Bank of Kentucky now owns 640 shares of the company's stock valued at $65,000 after acquiring an additional 290 shares during the period. 70.58% of the stock is owned by institutional investors and hedge funds.

Innovative Industrial Properties Price Performance

Shares of IIPR stock traded up $2.39 on Monday, hitting $96.62. 138,423 shares of the company's stock were exchanged, compared to its average volume of 223,260. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. Innovative Industrial Properties, Inc. has a 12 month low of $63.36 and a 12 month high of $105.81. The stock has a market cap of $2.72 billion, a P/E ratio of 16.75 and a beta of 1.49. The company has a 50 day moving average of $97.10 and a 200 day moving average of $90.21.

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

Innovative Industrial Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $1.82 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $7.28 annualized dividend and a yield of 7.53%. Innovative Industrial Properties's dividend payout ratio is presently 126.17%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IIPR. TheStreet upgraded Innovative Industrial Properties from a "c+" rating to a "b-" rating in a research report on Wednesday, January 10th. Piper Sandler upped their price objective on 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 equities research 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 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.