Innovative Industrial Properties, Inc. (NYSE:IIPR) Stock Holdings Reduced by Centaurus Financial Inc.

Centaurus Financial Inc. lessened its stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,566 shares of the company’s stock after selling 234 shares during the quarter. Centaurus Financial Inc.’s holdings in Innovative Industrial Properties were worth $864,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Virtu Financial LLC boosted its stake in shares of Innovative Industrial Properties by 4.2% during the 4th quarter. Virtu Financial LLC now owns 5,733 shares of the company’s stock worth $578,000 after acquiring an additional 230 shares in the last quarter. KPP Advisory Services LLC bought a new stake in shares of Innovative Industrial Properties during the 4th quarter worth about $254,000. American Assets Investment Management LLC boosted its stake in shares of Innovative Industrial Properties by 13.8% during the 4th quarter. American Assets Investment Management LLC now owns 5,059 shares of the company’s stock worth $510,000 after acquiring an additional 614 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in shares of Innovative Industrial Properties during the 4th quarter worth about $763,000. Finally, Chesapeake Capital Corp IL acquired a new position in shares of Innovative Industrial Properties during the 4th quarter worth about $854,000. Institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Performance

Shares of NYSE IIPR traded up $0.35 during trading hours on Friday, hitting $106.62. 144,109 shares of the company’s stock were exchanged, compared to its average volume of 144,654. Innovative Industrial Properties, Inc. has a 1-year low of $69.08 and a 1-year high of $115.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 14.27 and a quick ratio of 14.27. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 18.71 and a beta of 1.51. The company’s 50-day moving average price is $104.84 and its 200-day moving average price is $98.64.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.74). The business had revenue of $75.45 million for the quarter, compared to analyst estimates of $79.65 million. Innovative Industrial Properties had a return on equity of 8.46% and a net margin of 53.07%. On average, sell-side analysts expect that Innovative Industrial Properties, Inc. will post 8.5 earnings per share for the current fiscal year.

Innovative Industrial Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $1.90 dividend. This is a boost from Innovative Industrial Properties’s previous quarterly dividend of $1.82. The ex-dividend date is Friday, June 28th. This represents a $7.60 annualized dividend and a yield of 7.13%. Innovative Industrial Properties’s dividend payout ratio is 127.72%.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted 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.

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.