SG Americas Securities LLC Has $895,000 Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

SG Americas Securities LLC raised its position in Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Rating) by 40.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,115 shares of the company’s stock after purchasing an additional 2,934 shares during the quarter. SG Americas Securities LLC’s holdings in Innovative Industrial Properties were worth $895,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Innovative Industrial Properties by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,989,218 shares of the company’s stock worth $819,386,000 after purchasing an additional 179,840 shares during the last quarter. State Street Corp raised its position in shares of Innovative Industrial Properties by 11.2% during the second quarter. State Street Corp now owns 1,632,374 shares of the company’s stock worth $182,098,000 after acquiring an additional 163,999 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Innovative Industrial Properties by 6.5% in the second quarter. Northern Trust Corp now owns 350,131 shares of the company’s stock worth $38,468,000 after acquiring an additional 21,272 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Innovative Industrial Properties by 8.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 310,586 shares of the company’s stock worth $63,795,000 after purchasing an additional 25,142 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its position in shares of Innovative Industrial Properties by 18.2% in the 2nd quarter. Copeland Capital Management LLC now owns 299,016 shares of the company’s stock worth $32,853,000 after purchasing an additional 46,074 shares during the period. 73.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IIPR shares. Piper Sandler decreased their price objective on shares of Innovative Industrial Properties from $135.00 to $117.00 and set an “overweight” rating for the company in a research report on Friday, October 7th. StockNews.com upgraded Innovative Industrial Properties from a “sell” rating to a “hold” rating in a research report on Friday, November 11th. Craig Hallum raised their target price on Innovative Industrial Properties to $140.00 in a research note on Wednesday, November 16th. TheStreet upgraded Innovative Industrial Properties from a “c+” rating to a “b-” rating in a report on Friday, December 9th. Finally, Roth Capital lowered their price objective on shares of Innovative Industrial Properties from $190.00 to $170.00 in a research note on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.67.

Innovative Industrial Properties Stock Performance

Shares of IIPR stock opened at $92.09 on Friday. The company has a current ratio of 24.10, a quick ratio of 24.10 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $109.76 and a two-hundred day simple moving average of $101.96. Innovative Industrial Properties, Inc. has a 12 month low of $87.47 and a 12 month high of $211.17. The firm has a market capitalization of $2.58 billion, a PE ratio of 17.71 and a beta of 1.63.

Innovative Industrial Properties (NYSE:IIPR – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.60). Innovative Industrial Properties had a net margin of 53.43% and a return on equity of 7.92%. The business had revenue of $70.88 million for the quarter, compared to analyst estimates of $68.60 million. Analysts forecast that Innovative Industrial Properties, Inc. will post 7.71 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a dividend of $1.80 per share. The ex-dividend date was Thursday, December 29th. This represents a $7.20 annualized dividend and a dividend yield of 7.82%. Innovative Industrial Properties’s payout ratio is 138.46%.

Innovative Industrial Properties Company Profile

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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 medical-use 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.