Corient Private Wealth LLC Purchases New Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Corient Private Wealth LLC acquired a new position in Innovative Industrial Properties, Inc. (NYSE:IIPRFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,431 shares of the company’s stock, valued at approximately $648,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Innovative Industrial Properties during the fourth quarter valued at approximately $31,116,000. International Assets Investment Management LLC bought a new position in Innovative Industrial Properties in the 4th quarter worth $14,952,000. Dimensional Fund Advisors LP lifted its position in shares of Innovative Industrial Properties by 57.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 202,637 shares of the company’s stock worth $20,430,000 after purchasing an additional 74,289 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of Innovative Industrial Properties by 187.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 108,195 shares of the company’s stock valued at $8,186,000 after purchasing an additional 70,612 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Innovative Industrial Properties by 8.6% during the third quarter. Northern Trust Corp now owns 358,166 shares of the company’s stock valued at $27,099,000 after buying an additional 28,403 shares during the period. 70.58% of the stock is currently owned by institutional investors.

Innovative Industrial Properties Price Performance

IIPR opened at $109.54 on Thursday. Innovative Industrial Properties, Inc. has a 12-month low of $67.67 and a 12-month high of $115.75. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 19.22 and a beta of 1.51. The company has a current ratio of 14.27, a quick ratio of 14.27 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $104.06 and a two-hundred day simple moving average of $97.33.

Innovative Industrial Properties (NYSE:IIPRGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.74). Innovative Industrial Properties had a return on equity of 8.46% and a net margin of 53.07%. The business had revenue of $75.45 million during the quarter, compared to the consensus estimate of $79.65 million. Research analysts predict that Innovative Industrial Properties, Inc. will post 8.5 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $1.82 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $7.28 annualized dividend and a dividend yield of 6.65%. Innovative Industrial Properties’s payout ratio is 127.72%.

Wall Street Analysts Forecast Growth

Separately, 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.

Check Out Our Latest Stock Report on Innovative Industrial Properties

About Innovative Industrial Properties

(Free Report)

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.

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

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