TCW Group Inc. Takes Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

TCW Group Inc. bought a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,107 shares of the company’s stock, valued at approximately $2,572,000. TCW Group Inc. owned approximately 0.07% of Innovative Industrial Properties as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. USA Financial Formulas bought a new position in shares of Innovative Industrial Properties in the 3rd quarter valued at about $25,000. Blue Trust Inc. lifted its stake in Innovative Industrial Properties by 2,085.7% in the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock valued at $48,000 after purchasing an additional 438 shares during the last quarter. Signaturefd LLC grew its holdings in Innovative Industrial Properties by 42.3% during the second quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $55,000 after purchasing an additional 150 shares during the period. Canton Hathaway LLC acquired a new position in Innovative Industrial Properties during the third quarter worth approximately $55,000. Finally, Loomis Sayles & Co. L P raised its stake in Innovative Industrial Properties by 3,130.8% in the third quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after buying an additional 407 shares during the period. 70.58% of the stock is owned by institutional investors and hedge funds.

Innovative Industrial Properties Stock Performance

Shares of NYSE IIPR opened at $103.88 on Friday. 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 firm has a market cap of $2.94 billion, a price-to-earnings ratio of 18.48 and a beta of 1.30. The stock’s fifty day moving average price is $118.52 and its two-hundred day moving average price is $118.33. Innovative Industrial Properties, Inc. has a one year low of $87.52 and a one year high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last released 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 net margin of 52.51% and a return on equity of 8.44%. The business had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. During the same quarter last year, the company posted $2.29 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts forecast that Innovative Industrial Properties, Inc. will post 8.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Compass Point upgraded Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Friday, November 8th. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Piper Sandler dropped their price objective 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. Finally, Wolfe Research raised 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.