1 week Ago By Defense World Staff
American Century Companies Inc. grew its position in Innovative Industrial Properties, Inc. (NYSE:IIPR – Free Report) by 1.
7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,158 shares of the company’s stock after buying an additional 270 shares during the period. American Century Companies Inc.
owned 0.06% of Innovative Industrial Properties worth $1,077,000 at the end of the most recent reporting period. A number of other institutional investors and hedge funds also recently made changes to their positions in IIPR.
Bogart Wealth LLC acquired a new stake in Innovative Industrial Properties during the 4th quarter worth $27,000. Compass Financial Services Inc bought a new position in shares of Innovative Industrial Properties in the 4th quarter worth $32,000. Smartleaf Asset Management LLC grew its stake in shares of Innovative Industrial Properties by 182.
1% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock worth $43,000 after purchasing an additional 417 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Innovative Industrial Properties during the fourth quarter worth $77,000.
Finally, Principal Securities Inc. increased its holdings in Innovative Industrial Properties by 31.1% in the fourth quarter.
Principal Securities Inc. now owns 1,192 shares of the company’s stock valued at $79,000 after purchasing an additional 283 shares during the last quarter. Institutional investors own 70.
58% of the company’s stock. Innovative Industrial Properties Trading Down 6.3 %Shares of NYSE:IIPR opened at $48.
52 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 8.
77 and a beta of 1.59. Innovative Industrial Properties, Inc.
has a 12 month low of $45.44 and a 12 month high of $138.35.
The company’s fifty day simple moving average is $66.49 and its 200 day simple moving average is $89.37.
The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.
16. Innovative Industrial Properties (NYSE:IIPR – Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $2.
22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.22. Innovative Industrial Properties had a return on equity of 8.
39% and a net margin of 52.40%. The business had revenue of $76.
74 million for the quarter, compared to analyst estimates of $76.21 million. As a group, research analysts forecast that Innovative Industrial Properties, Inc.
will post 8.28 EPS for the current fiscal year. Innovative Industrial Properties Announces DividendThe firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th.
Shareholders of record on Monday, March 31st will be given a dividend of $1.90 per share. The ex-dividend date is Monday, March 31st.
This represents a $7.60 annualized dividend and a yield of 15.67%.
Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 137.43%. Insider Transactions at Innovative Industrial PropertiesIn other news, Director David Stecher sold 7,599 shares of the stock in a transaction that occurred on Monday, March 3rd.
The stock was 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. This represents a 84.
95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.
50% of the company’s stock. Wall Street Analysts Forecast GrowthIIPR has been the subject of several analyst reports. Roth Mkm decreased their target price on 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. BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd.
Industrial Alliance Securities reiterated a “neutral” rating on shares of Innovative Industrial Properties in a report on Tuesday, April 1st. Piper Sandler decreased their price target on shares of Innovative Industrial Properties from $60.00 to $55.
00 and set an “underweight” rating for the company in a report on Monday, March 31st. Finally, Alliance Global Partners downgraded Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock.
According to data from MarketBeat, Innovative Industrial Properties presently has an average rating of “Hold” and an average price target of $85.00.View Our Latest Research Report on IIPRAbout Innovative Industrial Properties (Free Report)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.See AlsoFive stocks we like better than Innovative Industrial PropertiesBusiness Services Stocks InvestingJoby Aviation: Operational Momentum vs. Market SentimentBest Aerospace Stocks Investing Broadcom’s Big Outperformance Shows Strength Amid Tariff DeclineHow Can Investors Benefit From After-Hours TradingCarvana: Can Turnaround Strength Outdrive Market Headwinds?Want to see what other hedge funds are holding IIPR? Visit HoldingsChannel.
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