UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 1,054.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,065 shares of the company’s stock after purchasing an additional 56,689 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Innovative Industrial Properties worth $8,354,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Innovative Industrial Properties during the 3rd quarter valued at approximately $25,000. Canton Hathaway LLC purchased a new stake in Innovative Industrial Properties in the 3rd quarter worth $55,000. Loomis Sayles & Co. L P increased its holdings in Innovative Industrial Properties by 3,130.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock worth $57,000 after acquiring an additional 407 shares in the last quarter. US Bancorp DE increased its holdings in Innovative Industrial Properties by 75.3% in the 3rd quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after acquiring an additional 189 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Innovative Industrial Properties by 2,085.7% in the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock worth $48,000 after acquiring an additional 438 shares in the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties Trading Up 0.4 %

Shares of IIPR stock opened at $107.09 on Tuesday. The company’s 50-day moving average price is $120.16 and its 200-day moving average price is $118.55. The company has a current ratio of 11.53, a quick ratio of 11.53 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 19.06 and a beta of 1.31. Innovative Industrial Properties, Inc. has a twelve month low of $87.06 and a twelve month high of $138.35.

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

Innovative Industrial Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $1.90 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $7.60 dividend on an annualized basis and a yield of 7.10%. Innovative Industrial Properties’s payout ratio is currently 135.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Compass Point raised shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a report on Friday, November 8th. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Wolfe Research raised shares of Innovative Industrial Properties to a “hold” rating in a report on Monday, September 23rd. Finally, Piper Sandler dropped their target price on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating 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. Based on data from MarketBeat, Innovative Industrial Properties presently has an average rating of “Moderate Buy” and an average 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.