Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC boosted its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 25.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,661 shares of the company’s stock after acquiring an additional 1,363 shares during the period. CWA Asset Management Group LLC’s holdings in Innovative Industrial Properties were worth $444,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IIPR. Wellington Management Group LLP grew its stake in shares of Innovative Industrial Properties by 48.6% during the third quarter. Wellington Management Group LLP now owns 568,280 shares of the company’s stock worth $76,490,000 after purchasing an additional 185,855 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Innovative Industrial Properties by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 457,374 shares of the company’s stock worth $61,563,000 after acquiring an additional 10,711 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Innovative Industrial Properties by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 328,344 shares of the company’s stock valued at $35,862,000 after acquiring an additional 45,779 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Innovative Industrial Properties by 17.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 237,206 shares of the company’s stock worth $31,928,000 after acquiring an additional 35,269 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Innovative Industrial Properties by 21.0% during the second quarter. LSV Asset Management now owns 122,646 shares of the company’s stock worth $13,395,000 after purchasing an additional 21,273 shares during the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties Stock Performance

Shares of IIPR stock opened at $65.30 on Thursday. The stock’s 50-day moving average price is $98.92 and its 200 day moving average price is $114.68. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.85 billion, a PE ratio of 11.62 and a beta of 1.39. Innovative Industrial Properties, Inc. has a 52-week low of $64.75 and a 52-week high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results 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 analysts’ expectations of $77.30 million. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. Innovative Industrial Properties’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. As a group, equities research analysts forecast 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. 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 11.64%. Innovative Industrial Properties’s dividend payout ratio (DPR) is 135.23%.

Analysts Set New Price Targets

IIPR has been the topic of several recent analyst reports. Compass Point lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $78.00 in a research note on Friday, December 20th. Roth Capital upgraded shares of Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. Wolfe Research upgraded shares of Innovative Industrial Properties to a “hold” rating in a research note on Monday, September 23rd. BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. Finally, Alliance Global Partners downgraded Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.