KPP Advisory Services LLC Has $289,000 Stock Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

KPP Advisory Services LLC cut its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,150 shares of the company’s stock after selling 110 shares during the quarter. KPP Advisory Services LLC’s holdings in Innovative Industrial Properties were worth $289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IIPR. USA Financial Formulas purchased a new position in Innovative Industrial Properties during the third quarter valued at approximately $25,000. Blue Trust Inc. grew its holdings in shares of Innovative Industrial Properties by 2,085.7% during the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock valued at $48,000 after acquiring an additional 438 shares in the last quarter. Signaturefd LLC increased its stake in shares of Innovative Industrial Properties by 42.3% in the second quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $55,000 after acquiring an additional 150 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Innovative Industrial Properties by 138.1% during the second quarter. Federated Hermes Inc. now owns 538 shares of the company’s stock worth $59,000 after acquiring an additional 312 shares in the last quarter. Finally, US Bancorp DE boosted its position in Innovative Industrial Properties by 75.3% during the third quarter. US Bancorp DE now owns 440 shares of the company’s stock valued at $59,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Trading Down 1.2 %

Shares of NYSE:IIPR opened at $102.23 on Friday. Innovative Industrial Properties, Inc. has a 52-week low of $77.88 and a 52-week high of $138.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53. The company has a market cap of $2.90 billion, a P/E ratio of 18.19 and a beta of 1.37. The stock’s 50-day moving average is $127.93 and its 200-day moving average is $118.66.

Innovative Industrial Properties (NYSE:IIPR) last issued 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). Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The business had revenue of $76.53 million during the quarter, compared to the consensus estimate of $77.30 million. During the same period in the prior year, the firm earned $2.29 earnings per share. The business’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts predict that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current 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 dividend of $1.90 per share. This represents a $7.60 annualized dividend 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%.

Analysts Set New Price Targets

Several brokerages have weighed in on IIPR. Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Piper Sandler dropped their price objective on Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Compass Point raised shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Friday, November 8th. Roth Mkm boosted their target price on shares of Innovative Industrial Properties from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Wolfe Research upgraded shares of Innovative Industrial Properties to a “hold” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.67.

Innovative Industrial Properties 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.