Los Angeles Capital Management LLC Purchases Shares of 9,380 Innovative Industrial Properties, Inc. (NYSE:IIPR)

Los Angeles Capital Management LLC purchased a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,380 shares of the company's stock, valued at approximately $946,000.

Other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its stake in shares of Innovative Industrial Properties by 7.8% during the third quarter. Raymond James & Associates now owns 10,185 shares of the company's stock worth $771,000 after purchasing an additional 740 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Innovative Industrial Properties by 49.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,522 shares of the company's stock valued at $418,000 after purchasing an additional 1,835 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Innovative Industrial Properties by 9.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,528 shares of the company's stock valued at $797,000 after buying an additional 905 shares during the period. Advisor Partners II LLC increased its holdings in Innovative Industrial Properties by 76.8% during the 3rd quarter. Advisor Partners II LLC now owns 18,944 shares of the company's stock worth $1,433,000 after acquiring an additional 8,229 shares during the period. Finally, Assetmark Inc. bought a new position in Innovative Industrial Properties in the 3rd quarter valued at $210,000. Institutional investors own 70.58% of the company's stock.

Innovative Industrial Properties Trading Down 0.4 %

Shares of IIPR traded down $0.38 during mid-day trading on Friday, reaching $104.43. The company's stock had a trading volume of 162,932 shares, compared to its average volume of 228,813. Innovative Industrial Properties, Inc. has a 52 week low of $65.16 and a 52 week high of $111.71. The stock has a market cap of $2.95 billion, a PE ratio of 18.18 and a beta of 1.48. The company's fifty day moving average price is $100.15 and its two-hundred day moving average price is $92.70. The company has a current ratio of 14.22, a quick ratio of 14.22 and a debt-to-equity ratio of 0.16.

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). Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. The business had revenue of $79.16 million during the quarter, compared to the consensus estimate of $76.55 million. On average, analysts predict that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Innovative Industrial Properties's dividend payout ratio is 126.17%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price target 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. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Innovative Industrial Properties 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.