Hussman Strategic Advisors Inc. Invests $700,000 in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Hussman Strategic Advisors Inc. acquired a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,500 shares of the company’s stock, valued at approximately $700,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IIPR. SG Americas Securities LLC acquired a new position in Innovative Industrial Properties during the third quarter worth $155,000. Blue Trust Inc. grew its holdings in Innovative Industrial Properties by 177.3% during the third quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $171,000 after acquiring an additional 814 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Innovative Industrial Properties by 90.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,460 shares of the company’s stock worth $470,000 after acquiring an additional 1,648 shares during the period. MCF Advisors LLC acquired a new position in Innovative Industrial Properties during the third quarter worth $238,000. Finally, Bristlecone Advisors LLC grew its holdings in Innovative Industrial Properties by 0.8% during the third quarter. Bristlecone Advisors LLC now owns 12,600 shares of the company’s stock worth $1,696,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Down 0.8 %

Innovative Industrial Properties stock opened at $72.86 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53. Innovative Industrial Properties, Inc. has a fifty-two week low of $62.45 and a fifty-two week high of $138.35. The stock’s fifty day moving average is $72.81 and its two-hundred day moving average is $104.66. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 12.96 and a beta of 1.40.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The business had revenue of $76.74 million for the quarter, compared to the consensus estimate of $76.21 million. Analysts predict that Innovative Industrial Properties, Inc. will post 8.36 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.90 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $7.60 annualized dividend and a dividend yield of 10.43%. Innovative Industrial Properties’s dividend payout ratio is currently 137.43%.

Analysts Set New Price Targets

IIPR has been the topic of a number of recent analyst reports. BTIG Research lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Alliance Global Partners lowered Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. Piper Sandler lowered Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $118.00 to $70.00 in a report on Friday, December 20th. Compass Point lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $78.00 in a report on Friday, December 20th. Finally, Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. One investment 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.50.

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.