Segall Bryant & Hamill LLC Purchases New Shares in Innovative Industrial Properties, Inc. $IIPR

Segall Bryant & Hamill LLC acquired a new position in Innovative Industrial Properties, Inc. (NYSE:IIPR) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 47,196 shares of the company’s stock, valued at approximately $2,529,000. Segall Bryant & Hamill LLC owned 0.17% of Innovative Industrial Properties as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. West Oak Capital LLC purchased a new position in shares of Innovative Industrial Properties in the 3rd quarter valued at about $27,000. Huntington National Bank grew its holdings in Innovative Industrial Properties by 110.6% in the third quarter. Huntington National Bank now owns 697 shares of the company’s stock valued at $37,000 after purchasing an additional 366 shares during the period. Headlands Technologies LLC grew its holdings in Innovative Industrial Properties by 109.4% in the second quarter. Headlands Technologies LLC now owns 758 shares of the company’s stock valued at $42,000 after purchasing an additional 396 shares during the period. Caitlin John LLC purchased a new stake in shares of Innovative Industrial Properties in the third quarter valued at approximately $44,000. Finally, Hantz Financial Services Inc. raised its stake in shares of Innovative Industrial Properties by 482.2% during the 3rd quarter. Hantz Financial Services Inc. now owns 885 shares of the company’s stock worth $47,000 after buying an additional 733 shares during the period. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler increased their target price on Innovative Industrial Properties from $44.00 to $45.00 and gave the company an “underweight” rating in a research report on Wednesday, February 25th. Compass Point upgraded shares of Innovative Industrial Properties from a “sell” rating to a “neutral” rating and set a $45.00 price objective for the company in a research report on Tuesday. Finally, Weiss Ratings downgraded shares of Innovative Industrial Properties from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, January 28th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $51.75.

Innovative Industrial Properties Stock Down 2.7%

NYSE IIPR opened at $55.13 on Friday. The business has a fifty day moving average price of $49.45 and a 200 day moving average price of $51.87. Innovative Industrial Properties, Inc. has a one year low of $44.58 and a one year high of $74.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.38 and a current ratio of 4.38. The company has a market cap of $1.55 billion, a P/E ratio of 14.06 and a beta of 1.45.

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

Innovative Industrial Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 13.8%. The ex-dividend date of this dividend was Wednesday, December 31st. Innovative Industrial Properties’s dividend payout ratio is currently 193.88%.

Innovative Industrial Properties Company Profile

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.