Campbell & CO Investment Adviser LLC Acquires New Holdings in Innovative Industrial Properties, Inc. $IIPR

Campbell & CO Investment Adviser LLC bought a new position in Innovative Industrial Properties, Inc. (NYSE:IIPR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,716 shares of the company’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Flaharty Asset Management LLC acquired a new stake in shares of Innovative Industrial Properties in the first quarter worth $27,000. AdvisorNet Financial Inc raised its holdings in Innovative Industrial Properties by 50.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 559 shares of the company’s stock worth $31,000 after acquiring an additional 187 shares during the period. SSA Swiss Advisors AG acquired a new position in Innovative Industrial Properties during the 1st quarter worth $33,000. Signaturefd LLC lifted its position in 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 acquiring an additional 251 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in Innovative Industrial Properties during the second quarter valued at about $44,000. Institutional investors and hedge funds own 70.58% of the company’s stock.

Analysts Set New Price Targets

IIPR has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on Innovative Industrial Properties from $43.00 to $44.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 5th. Weiss Ratings lowered Innovative Industrial Properties from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, November 10th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $78.50.

Innovative Industrial Properties Stock Down 1.4%

IIPR stock opened at $47.77 on Tuesday. Innovative Industrial Properties, Inc. has a twelve month low of $45.44 and a twelve month high of $112.82. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.34 billion, a PE ratio of 11.32 and a beta of 1.64. The business’s 50-day simple moving average is $53.65 and its 200 day simple moving average is $54.46.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $1.71 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.02). Innovative Industrial Properties had a return on equity of 6.77% and a net margin of 45.80%.The firm had revenue of $64.69 million during the quarter, compared to the consensus estimate of $63.72 million. During the same quarter in the prior year, the business posted $2.25 EPS. Innovative Industrial Properties’s revenue was down 15.4% compared to the same quarter last year. On average, research analysts anticipate 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 was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.90 per share. The ex-dividend date was Tuesday, September 30th. This represents a $7.60 dividend on an annualized basis and a yield of 15.9%. Innovative Industrial Properties’s payout ratio is currently 180.09%.

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.