Pensionfund DSM Netherlands Sells 2,200 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Pensionfund DSM Netherlands trimmed its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 20.8% in the fourth quarter, Holdings Channel reports. The firm owned 8,400 shares of the company’s stock after selling 2,200 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Innovative Industrial Properties were worth $560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Innovative Industrial Properties during the 2nd quarter worth about $253,000. Commonwealth Equity Services LLC raised its stake in Innovative Industrial Properties by 5.5% in the second quarter. Commonwealth Equity Services LLC now owns 31,379 shares of the company’s stock valued at $3,427,000 after buying an additional 1,648 shares during the period. Van ECK Associates Corp lifted its position in shares of Innovative Industrial Properties by 7.6% in the second quarter. Van ECK Associates Corp now owns 4,312 shares of the company’s stock valued at $471,000 after buying an additional 306 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Innovative Industrial Properties by 2.5% in the second quarter. Arizona State Retirement System now owns 7,895 shares of the company’s stock valued at $862,000 after buying an additional 189 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Innovative Industrial Properties by 5.7% during the 2nd quarter. Private Advisor Group LLC now owns 16,724 shares of the company’s stock worth $1,827,000 after acquiring an additional 907 shares during the last quarter. Institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Price Performance

Shares of NYSE IIPR traded up $0.79 during trading hours on Monday, hitting $68.85. 58,455 shares of the stock were exchanged, compared to its average volume of 213,581. Innovative Industrial Properties, Inc. has a 1-year low of $64.80 and a 1-year high of $138.35. The company’s fifty day simple moving average is $101.59 and its two-hundred day simple moving average is $115.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53. The company has a market cap of $1.95 billion, a PE ratio of 12.25 and a beta of 1.39.

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

Innovative Industrial Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 11.04%. The ex-dividend date of this dividend is Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 135.23%.

Analysts Set New Price Targets

IIPR has been the topic of a number of research reports. Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Alliance Global Partners downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. BTIG Research cut shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Piper Sandler lowered shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $118.00 to $70.00 in a research report on Friday, December 20th. Finally, JMP Securities reiterated a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.50.

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.