Advisors Asset Management Inc. Has $168,000 Stock Position in Innovative Industrial Properties, Inc. $IIPR

Advisors Asset Management Inc. lifted its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 37.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,115 shares of the company’s stock after buying an additional 855 shares during the period. Advisors Asset Management Inc.’s holdings in Innovative Industrial Properties were worth $168,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of IIPR. PSI Advisors LLC raised its holdings in shares of Innovative Industrial Properties by 454.5% during the 1st quarter. PSI Advisors LLC now owns 610 shares of the company’s stock worth $33,000 after buying an additional 500 shares in the last quarter. SSA Swiss Advisors AG acquired a new position in shares of Innovative Industrial Properties during the 1st quarter worth $33,000. GF Fund Management CO. LTD. acquired a new position in shares of Innovative Industrial Properties during the 4th quarter worth $34,000. Signaturefd LLC raised its holdings in shares of Innovative Industrial Properties by 49.7% during the 1st quarter. Signaturefd LLC now owns 756 shares of the company’s stock worth $41,000 after buying an additional 251 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Innovative Industrial Properties during the 4th quarter worth $56,000. Institutional investors and hedge funds own 70.58% of the company’s stock.

Analyst Ratings Changes

Separately, Wolfe Research cut Innovative Industrial Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.67.

Innovative Industrial Properties Trading Down 0.1%

Shares of IIPR stock opened at $57.03 on Friday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 12.34 and a beta of 1.61. The stock has a 50-day moving average of $53.91 and a 200-day moving average of $56.60. The company has a current ratio of 10.30, a quick ratio of 10.30 and a debt-to-equity ratio of 0.16. Innovative Industrial Properties, Inc. has a 1-year low of $45.44 and a 1-year high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.03. The company had revenue of $62.89 million during the quarter, compared to analysts’ expectations of $64.36 million. Innovative Industrial Properties had a return on equity of 7.26% and a net margin of 47.71%.The business’s quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 earnings per share. On average, equities research analysts forecast that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

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.