Innovative Industrial Properties, Inc. (NYSE:IIPR) Stock Holdings Lowered by Pensionfund DSM Netherlands

Pensionfund DSM Netherlands trimmed its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,400 shares of the company’s stock after selling 2,200 shares during the period. Pensionfund DSM Netherlands’ holdings in Innovative Industrial Properties were worth $560,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Innovative Industrial Properties by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 568,280 shares of the company’s stock worth $76,490,000 after acquiring an additional 185,855 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Innovative Industrial Properties by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 457,374 shares of the company’s stock worth $61,563,000 after buying an additional 10,711 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 buying an additional 45,779 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Innovative Industrial Properties by 17.5% in 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 during the period. Finally, LSV Asset Management lifted its position in Innovative Industrial Properties by 21.0% during the 2nd quarter. LSV Asset Management now owns 122,646 shares of the company’s stock worth $13,395,000 after acquiring an additional 21,273 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on IIPR. Piper Sandler lowered Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $118.00 to $70.00 in a report on Friday, December 20th. BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. JMP Securities reaffirmed a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Finally, Compass Point lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $78.00 in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Innovative Industrial Properties has an average rating of “Hold” and an average price target of $104.50.

Innovative Industrial Properties Price Performance

Shares of NYSE:IIPR traded up $0.79 during midday trading on Monday, reaching $68.85. The company’s stock had a trading volume of 58,455 shares, compared to its average volume of 213,581. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53. The company has a market capitalization of $1.95 billion, a P/E ratio of 12.25 and a beta of 1.39. Innovative Industrial Properties, Inc. has a fifty-two week low of $64.80 and a fifty-two week high of $138.35. The business’s fifty day simple moving average is $101.59 and its 200-day simple moving average is $115.22.

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

Innovative Industrial Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 11.04%. The ex-dividend date of this dividend is Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 135.23%.

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.