Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. boosted its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 21.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,539 shares of the company’s stock after purchasing an additional 454 shares during the period. Crossmark Global Holdings Inc.’s holdings in Innovative Industrial Properties were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC acquired a new stake in shares of Innovative Industrial Properties during the third quarter worth $713,000. Vanguard Group Inc. raised its holdings in Innovative Industrial Properties by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,410,907 shares of the company’s stock worth $456,705,000 after purchasing an additional 28,111 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Innovative Industrial Properties by 4.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 57,808 shares of the company’s stock valued at $5,982,000 after purchasing an additional 2,452 shares in the last quarter. Prevail Innovative Wealth Advisors LLC increased its position in Innovative Industrial Properties by 30.0% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 25,689 shares of the company’s stock worth $2,806,000 after purchasing an additional 5,926 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Innovative Industrial Properties by 97.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 48,034 shares of the company’s stock worth $5,246,000 after buying an additional 23,709 shares in the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties Trading Down 1.2 %

NYSE:IIPR opened at $102.23 on Monday. Innovative Industrial Properties, Inc. has a 52-week low of $77.88 and a 52-week high of $138.35. 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 fifty day simple moving average of $127.93 and a 200-day simple moving average of $118.75. The company has a market capitalization of $2.90 billion, a PE ratio of 18.19 and a beta of 1.37.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The business had revenue of $76.53 million for the quarter, compared to analyst estimates of $77.30 million. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, equities research analysts expect that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend was Monday, September 30th. Innovative Industrial Properties’s payout ratio is currently 135.23%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IIPR. Wolfe Research upgraded Innovative Industrial Properties to a “hold” rating in a research note on Monday, September 23rd. Piper Sandler decreased their target price on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Roth Mkm increased their price target on shares of Innovative Industrial Properties from $115.00 to $140.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Finally, Compass Point raised shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.67.

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.