Zurcher Kantonalbank Zurich Cantonalbank Sells 148 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,380 shares of the company’s stock after selling 148 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Innovative Industrial Properties were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Innovative Industrial Properties in the 3rd quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new position in Innovative Industrial Properties in the 4th quarter worth approximately $40,000. Global Retirement Partners LLC boosted its holdings in Innovative Industrial Properties by 67.6% in the 3rd 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. Headinvest LLC bought a new position in Innovative Industrial Properties in the 3rd quarter worth approximately $62,000. Finally, Independence Bank of Kentucky boosted its holdings in Innovative Industrial Properties by 82.9% in the 4th quarter. Independence Bank of Kentucky now owns 640 shares of the company’s stock worth $65,000 after buying an additional 290 shares during the period. 70.58% of the stock is owned by institutional investors.

Innovative Industrial Properties Stock Down 0.2 %

Shares of NYSE:IIPR opened at $97.71 on Friday. The firm has a fifty day moving average price of $97.76 and a two-hundred day moving average price of $90.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. Innovative Industrial Properties, Inc. has a one year low of $64.56 and a one year high of $105.81. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 16.93 and a beta of 1.49.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly 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). Innovative Industrial Properties had a net margin of 53.50% and a return on equity of 8.54%. The firm had revenue of $79.16 million during the quarter, compared to the consensus estimate of $76.55 million. Analysts anticipate that Innovative Industrial Properties, Inc. will post 8.49 EPS for the current fiscal 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 currently 126.17%.

Analyst Upgrades and Downgrades

IIPR has been the subject of several analyst reports. Piper Sandler raised their price objective 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. TheStreet raised shares of Innovative Industrial Properties from a “c+” rating to a “b-” rating in a report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.