Nisa Investment Advisors LLC Purchases 144 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Nisa Investment Advisors LLC grew its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,123 shares of the company’s stock after purchasing an additional 144 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of Innovative Industrial Properties worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Innovative Industrial Properties by 2.1% in the second quarter. BlackRock Inc. now owns 5,003,990 shares of the company’s stock worth $365,341,000 after purchasing an additional 100,973 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Innovative Industrial Properties by 3.1% in the third quarter. Vanguard Group Inc. now owns 4,466,706 shares of the company’s stock worth $395,303,000 after buying an additional 136,398 shares in the last quarter. State Street Corp lifted its holdings in shares of Innovative Industrial Properties by 7.3% in the second quarter. State Street Corp now owns 1,712,372 shares of the company’s stock worth $128,046,000 after buying an additional 116,221 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Innovative Industrial Properties by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 363,500 shares of the company’s stock worth $27,502,000 after buying an additional 12,026 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Innovative Industrial Properties by 8.6% in the third quarter. Northern Trust Corp now owns 358,166 shares of the company’s stock worth $27,099,000 after buying an additional 28,403 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on IIPR shares. TheStreet raised shares of Innovative Industrial Properties from a “c+” rating to a “b-” rating in a report on Wednesday, January 10th. Piper Sandler boosted their target price on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Innovative Industrial Properties presently has an average rating of “Hold” and an average target price of $92.67.

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock opened at $98.30 on Friday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 17.04 and a beta of 1.49. The firm’s fifty day moving average is $96.73 and its 200 day moving average is $89.39. The company has a quick ratio of 14.22, a current ratio of 14.22 and a debt-to-equity ratio of 0.16. Innovative Industrial Properties, Inc. has a 52-week low of $63.36 and a 52-week high of $105.81.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Monday, February 26th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.62). The business had revenue of $79.16 million for the quarter, compared to analysts’ expectations of $76.55 million. Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. Sell-side analysts forecast that Innovative Industrial Properties, Inc. will post 8.49 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $1.82 dividend. This represents a $7.28 annualized dividend and a dividend yield of 7.41%. The ex-dividend date of this dividend is Wednesday, March 27th. Innovative Industrial Properties’s dividend payout ratio is currently 126.17%.

Innovative Industrial Properties Company 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.