2,521 Shares in Innovative Industrial Properties, Inc. (NYSE:IIPR) Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,521 shares of the company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Focused Wealth Management Inc grew its stake in Innovative Industrial Properties by 2.4% during the second quarter. Focused Wealth Management Inc now owns 3,953 shares of the company’s stock valued at $432,000 after acquiring an additional 93 shares in the last quarter. Bristlecone Advisors LLC boosted its holdings in Innovative Industrial Properties by 0.8% in the 3rd quarter. Bristlecone Advisors LLC now owns 12,600 shares of the company’s stock valued at $1,696,000 after purchasing an additional 103 shares during the period. Signaturefd LLC grew its position in shares of Innovative Industrial Properties by 42.3% during the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $55,000 after purchasing an additional 150 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of Innovative Industrial Properties by 3.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 5,490 shares of the company’s stock worth $739,000 after purchasing an additional 168 shares during the period. Finally, USA Financial Formulas purchased a new stake in shares of Innovative Industrial Properties in the third quarter worth $25,000. 70.58% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Stock Down 2.4 %

Shares of IIPR opened at $102.17 on Tuesday. Innovative Industrial Properties, Inc. has a 1 year low of $87.52 and a 1 year high of $138.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53. The stock has a 50 day simple moving average of $117.44 and a two-hundred day simple moving average of $118.44. The firm has a market cap of $2.89 billion, a P/E ratio of 18.18 and a beta of 1.30.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The business had revenue of $76.53 million during the quarter, compared to analysts’ expectations of $77.30 million. Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. Innovative Industrial Properties’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the company posted $2.29 EPS. On average, analysts forecast that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.90 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 7.44%. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 135.23%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IIPR shares. Wolfe Research upgraded Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd. Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Compass Point raised shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday. Finally, Piper Sandler decreased their price target on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.67.

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.