Segall Bryant & Hamill LLC Grows Stock Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Segall Bryant & Hamill LLC grew its stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,485 shares of the company’s stock after acquiring an additional 836 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Innovative Industrial Properties were worth $3,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Roberts Glore & Co. Inc. IL increased its stake in Innovative Industrial Properties by 4.6% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 3,920 shares of the company’s stock valued at $261,000 after purchasing an additional 172 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Innovative Industrial Properties by 2.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 9,543 shares of the company’s stock valued at $636,000 after acquiring an additional 192 shares during the period. Baader Bank Aktiengesellschaft increased its position in shares of Innovative Industrial Properties by 3.6% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 5,700 shares of the company’s stock valued at $378,000 after acquiring an additional 200 shares during the period. Captrust Financial Advisors lifted its position in Innovative Industrial Properties by 11.6% during the 3rd quarter. Captrust Financial Advisors now owns 2,050 shares of the company’s stock worth $276,000 after acquiring an additional 213 shares during the period. Finally, American Century Companies Inc. grew its stake in Innovative Industrial Properties by 1.7% during the 4th quarter. American Century Companies Inc. now owns 16,158 shares of the company’s stock valued at $1,077,000 after purchasing an additional 270 shares during the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Alliance Global Partners cut Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. JMP Securities restated a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Piper Sandler cut their price objective on shares of Innovative Industrial Properties from $70.00 to $60.00 and set an “underweight” rating on the stock in a research note on Monday, March 17th. Roth Mkm decreased their target price on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, Compass Point cut their price target on Innovative Industrial Properties from $78.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Innovative Industrial Properties presently has an average rating of “Hold” and an average price target of $88.00.

Innovative Industrial Properties Stock Performance

IIPR opened at $65.08 on Friday. The firm has a fifty day moving average price of $70.35 and a 200 day moving average price of $95.89. Innovative Industrial Properties, Inc. has a 1 year low of $61.72 and a 1 year high of $138.35. The stock has a market cap of $1.84 billion, a P/E ratio of 11.77 and a beta of 1.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.32 and a quick ratio of 11.53.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. The business had revenue of $76.74 million during the quarter, compared to the consensus estimate of $76.21 million. Equities research analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 11.68%. The ex-dividend date is Monday, March 31st. Innovative Industrial Properties’s payout ratio is currently 137.43%.

Insider Transactions at Innovative Industrial Properties

In related news, Director David Stecher sold 7,599 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total value of $536,109.45. Following the completion of the sale, the director now owns 1,346 shares of the company’s stock, valued at approximately $94,960.30. The trade was a 84.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

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.