Strs Ohio Has $574,000 Stock Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Strs Ohio trimmed its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,700 shares of the company’s stock after selling 200 shares during the quarter. Strs Ohio’s holdings in Innovative Industrial Properties were worth $574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IIPR. AE Wealth Management LLC boosted its holdings in shares of Innovative Industrial Properties by 9.9% in the third quarter. AE Wealth Management LLC now owns 4,347 shares of the company’s stock worth $329,000 after buying an additional 390 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Innovative Industrial Properties by 67.6% in the third quarter. Global Retirement Partners LLC now owns 796 shares of the company’s stock worth $58,000 after buying an additional 321 shares during the period. Dakota Wealth Management acquired a new position in shares of Innovative Industrial Properties in the third quarter worth about $235,000. Raymond James & Associates boosted its holdings in shares of Innovative Industrial Properties by 7.8% in the third quarter. Raymond James & Associates now owns 10,185 shares of the company’s stock worth $771,000 after buying an additional 740 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Innovative Industrial Properties by 49.8% in the third quarter. Stratos Wealth Partners LTD. now owns 5,522 shares of the company’s stock worth $418,000 after buying an additional 1,835 shares during the period. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Innovative Industrial Properties Price Performance

NYSE IIPR opened at $97.71 on Friday. The company has a 50 day simple moving average of $97.65 and a 200-day simple moving average of $90.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 16.93 and a beta of 1.49. Innovative Industrial Properties, Inc. has a 52-week low of $64.56 and a 52-week high of $105.81.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Monday, February 26th. The company reported $1.45 earnings per share 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%. Equities research analysts predict that Innovative Industrial Properties, Inc. will post 8.49 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

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

About Innovative Industrial Properties

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.