SG Americas Securities LLC Has $1.18 Million Stock Holdings in Innovative Industrial Properties, Inc. $IIPR

SG Americas Securities LLC lifted its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 110.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,928 shares of the company’s stock after purchasing an additional 13,079 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Innovative Industrial Properties worth $1,181,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Invesco Ltd. grew its position in shares of Innovative Industrial Properties by 15.2% in the 3rd quarter. Invesco Ltd. now owns 440,364 shares of the company’s stock valued at $23,595,000 after purchasing an additional 58,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Innovative Industrial Properties by 5.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 304,527 shares of the company’s stock valued at $16,317,000 after acquiring an additional 16,471 shares in the last quarter. AlphaCore Capital LLC lifted its stake in Innovative Industrial Properties by 0.8% in the 3rd quarter. AlphaCore Capital LLC now owns 211,407 shares of the company’s stock valued at $11,729,000 after acquiring an additional 1,777 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Innovative Industrial Properties by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,365 shares of the company’s stock valued at $11,433,000 after acquiring an additional 13,291 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Innovative Industrial Properties by 17.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 178,271 shares of the company’s stock valued at $9,844,000 after acquiring an additional 27,115 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Innovative Industrial Properties Trading Up 1.0%

Shares of Innovative Industrial Properties stock opened at $49.92 on Wednesday. Innovative Industrial Properties, Inc. has a 12-month low of $44.58 and a 12-month high of $59.83. The stock has a market cap of $1.40 billion, a P/E ratio of 12.73 and a beta of 1.45. The company has a quick ratio of 4.38, a current ratio of 4.38 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $50.52 and its 200-day moving average is $51.20.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings data on Monday, February 23rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.17. Innovative Industrial Properties had a return on equity of 6.43% and a net margin of 44.46%.The company had revenue of $66.66 million for the quarter, compared to analysts’ expectations of $66.16 million. During the same quarter in the prior year, the business posted $2.03 EPS. The business’s revenue was down 13.1% compared to the same quarter last year. Equities research analysts predict that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $1.90 per share. The ex-dividend date is Tuesday, March 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 15.2%. Innovative Industrial Properties’s dividend payout ratio is currently 193.88%.

Wall Street Analyst Weigh In

IIPR has been the topic of several research reports. Piper Sandler boosted their target price on Innovative Industrial Properties from $44.00 to $45.00 and gave the company an “underweight” rating in a research note on Wednesday, February 25th. Weiss Ratings cut Innovative Industrial Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 25th. Finally, Compass Point upgraded Innovative Industrial Properties from a “sell” rating to a “neutral” rating and set a $45.00 target price on the stock in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $49.00.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.