Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Bought by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Innovative Industrial Properties, Inc. (NYSE:IIPRGet Rating) by 11.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,658 shares of the company’s stock after purchasing an additional 1,392 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Innovative Industrial Properties were worth $1,209,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Heritage Wealth Management LLC acquired a new stake in shares of Innovative Industrial Properties during the second quarter valued at $25,000. Geneos Wealth Management Inc. boosted its stake in shares of Innovative Industrial Properties by 159.6% during the second quarter. Geneos Wealth Management Inc. now owns 270 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Innovative Industrial Properties by 112.9% during the first quarter. Lazard Asset Management LLC now owns 396 shares of the company’s stock valued at $81,000 after acquiring an additional 210 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Innovative Industrial Properties during the second quarter valued at $47,000. Finally, Baldwin Brothers LLC MA boosted its stake in shares of Innovative Industrial Properties by 92.3% during the second quarter. Baldwin Brothers LLC MA now owns 625 shares of the company’s stock valued at $69,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 73.71% of the company’s stock.

Innovative Industrial Properties Stock Performance

Innovative Industrial Properties stock opened at $89.03 on Friday. The stock’s 50-day moving average is $109.28 and its 200-day moving average is $101.72. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 17.12 and a beta of 1.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 24.10 and a quick ratio of 24.10. Innovative Industrial Properties, Inc. has a 12 month low of $87.47 and a 12 month high of $211.17.

Innovative Industrial Properties (NYSE:IIPRGet Rating) last posted its earnings results 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 company had revenue of $70.88 million during the quarter, compared to analyst estimates of $68.60 million. Equities analysts anticipate that Innovative Industrial Properties, Inc. will post 7.71 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a $1.80 dividend. The ex-dividend date was Thursday, December 29th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 8.09%. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 138.46%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IIPR. StockNews.com upgraded Innovative Industrial Properties from a “sell” rating to a “hold” rating in a research report on Friday, November 11th. TheStreet upgraded Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research report on Friday, December 9th. JMP Securities downgraded Innovative Industrial Properties from an “outperform” rating to a “market perform” rating in a research report on Friday. Craig Hallum increased their target price on Innovative Industrial Properties to $140.00 in a research report on Wednesday, November 16th. Finally, Piper Sandler reduced their target price on Innovative Industrial Properties from $135.00 to $117.00 and set an “overweight” rating on the stock in a research report on Friday, October 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Innovative Industrial Properties has an average rating of “Moderate Buy” and a consensus price target of $166.67.

Innovative Industrial Properties Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding IIPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Innovative Industrial Properties, Inc. (NYSE:IIPRGet Rating).

Institutional Ownership by Quarter for Innovative Industrial Properties (NYSE:IIPR)

Receive News & Ratings for Innovative Industrial Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innovative Industrial Properties and related companies with MarketBeat.com's FREE daily email newsletter.