Mackenzie Financial Corp Has $465,000 Stock Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Mackenzie Financial Corp reduced its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,613 shares of the company’s stock after selling 340 shares during the period. Mackenzie Financial Corp’s holdings in Innovative Industrial Properties were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Innovative Industrial Properties during the third quarter valued at $25,000. FNY Investment Advisers LLC bought a new position in Innovative Industrial Properties during the 4th quarter worth $40,000. Global Retirement Partners LLC raised its position in Innovative Industrial Properties by 67.6% during the 3rd quarter. Global Retirement Partners LLC now owns 796 shares of the company’s stock worth $58,000 after purchasing an additional 321 shares during the last quarter. Headinvest LLC acquired a new position in Innovative Industrial Properties during the 3rd quarter worth about $62,000. Finally, Independence Bank of Kentucky grew its position in shares of Innovative Industrial Properties by 82.9% in the 4th quarter. Independence Bank of Kentucky now owns 640 shares of the company’s stock valued at $65,000 after buying an additional 290 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock opened at $97.71 on Friday. The business has a 50-day moving average price of $97.65 and a two-hundred day moving average price of $90.66. Innovative Industrial Properties, Inc. has a 1-year low of $64.56 and a 1-year high of $105.81. The company has a current ratio of 14.22, a quick ratio of 14.22 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.76 billion, a P/E ratio of 16.93 and a beta of 1.49.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Monday, February 26th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.62). The business had revenue of $79.16 million for the quarter, compared to the consensus estimate of $76.55 million. Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. As a group, analysts anticipate that Innovative Industrial Properties, Inc. will post 8.49 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 7.45%. The ex-dividend date was Wednesday, March 27th. Innovative Industrial Properties’s dividend payout ratio (DPR) is 126.17%.

Wall Street Analysts Forecast Growth

IIPR has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. TheStreet upgraded shares of Innovative Industrial Properties from a “c+” rating to a “b-” rating in a report on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.67.

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.