IFM Investors Pty Ltd Has $246,000 Stock Holdings in Innovative Industrial Properties, Inc. $IIPR

IFM Investors Pty Ltd cut its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 21.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,454 shares of the company’s stock after selling 1,207 shares during the quarter. IFM Investors Pty Ltd’s holdings in Innovative Industrial Properties were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Flaharty Asset Management LLC bought a new position in shares of Innovative Industrial Properties during the 1st quarter valued at approximately $27,000. GF Fund Management CO. LTD. bought a new stake in Innovative Industrial Properties in the 4th quarter worth approximately $34,000. SSA Swiss Advisors AG bought a new position in shares of Innovative Industrial Properties in the first quarter worth approximately $33,000. PSI Advisors LLC raised its holdings in Innovative Industrial Properties by 454.5% in the 1st quarter. PSI Advisors LLC now owns 610 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Innovative Industrial Properties by 49.7% in the 1st quarter. Signaturefd LLC now owns 756 shares of the company’s stock worth $41,000 after purchasing an additional 251 shares in the last quarter. Institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Performance

Shares of IIPR stock opened at $55.58 on Wednesday. The company has a quick ratio of 10.30, a current ratio of 10.30 and a debt-to-equity ratio of 0.16. Innovative Industrial Properties, Inc. has a 52 week low of $45.44 and a 52 week high of $138.35. The firm has a 50 day moving average of $54.09 and a 200-day moving average of $55.76. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 12.03 and a beta of 1.61.

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

Innovative Industrial Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 13.7%. The ex-dividend date is Tuesday, September 30th. Innovative Industrial Properties’s payout ratio is currently 164.50%.

Analyst Ratings Changes

Separately, Wolfe Research lowered shares of Innovative Industrial Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $78.67.

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.