SeaCrest Wealth Management LLC Has $315,000 Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

SeaCrest Wealth Management LLC lowered its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 37.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,039 shares of the company’s stock after selling 1,783 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Innovative Industrial Properties were worth $315,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Investors Research Corp lifted its stake in Innovative Industrial Properties by 2.6% during the 4th quarter. Investors Research Corp now owns 5,000 shares of the company’s stock valued at $504,000 after acquiring an additional 125 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Innovative Industrial Properties by 0.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,123 shares of the company’s stock valued at $1,827,000 after acquiring an additional 144 shares in the last quarter. Virtu Financial LLC lifted its stake in Innovative Industrial Properties by 4.2% during the 4th quarter. Virtu Financial LLC now owns 5,733 shares of the company’s stock valued at $578,000 after acquiring an additional 230 shares in the last quarter. GAMMA Investing LLC lifted its stake in Innovative Industrial Properties by 84.9% during the 1st quarter. GAMMA Investing LLC now owns 525 shares of the company’s stock valued at $54,000 after acquiring an additional 241 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its stake in Innovative Industrial Properties by 82.9% during the 4th quarter. Independence Bank of Kentucky now owns 640 shares of the company’s stock valued at $65,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Price Performance

Shares of NYSE:IIPR opened at $108.71 on Thursday. The company has a current ratio of 14.27, a quick ratio of 14.27 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $107.74 and its two-hundred day simple moving average is $100.52. Innovative Industrial Properties, Inc. has a 1-year low of $69.08 and a 1-year high of $115.75. The stock has a market cap of $3.08 billion, a PE ratio of 19.07 and a beta of 1.37.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Wednesday, May 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.74). The business had revenue of $75.45 million for the quarter, compared to the consensus estimate of $79.65 million. Innovative Industrial Properties had a return on equity of 8.46% and a net margin of 53.07%. As a group, analysts forecast that Innovative Industrial Properties, Inc. will post 8.5 EPS for the current fiscal year.

Innovative Industrial Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 6.99%. This is a boost from Innovative Industrial Properties’s previous quarterly dividend of $1.82. The ex-dividend date is Thursday, June 27th. Innovative Industrial Properties’s payout ratio is presently 133.33%.

Innovative Industrial Properties Company 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.