Quantbot Technologies LP Acquires 15,460 Shares of Innovative Industrial Properties, Inc. $IIPR

Quantbot Technologies LP boosted its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 43.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,763 shares of the company’s stock after purchasing an additional 15,460 shares during the quarter. Quantbot Technologies LP’s holdings in Innovative Industrial Properties were worth $2,803,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FCG Investment Co purchased a new position in shares of Innovative Industrial Properties during the second quarter valued at about $579,000. Intech Investment Management LLC lifted its position in shares of Innovative Industrial Properties by 83.7% in the first quarter. Intech Investment Management LLC now owns 45,431 shares of the company’s stock worth $2,457,000 after buying an additional 20,701 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Innovative Industrial Properties by 5.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 19,234 shares of the company’s stock valued at $1,040,000 after buying an additional 1,000 shares during the last quarter. AlphaQuest LLC boosted its stake in Innovative Industrial Properties by 152.5% during the second quarter. AlphaQuest LLC now owns 10,013 shares of the company’s stock valued at $553,000 after buying an additional 6,047 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Innovative Industrial Properties by 77.1% during the 2nd quarter. Penserra Capital Management LLC now owns 18,476 shares of the company’s stock valued at $1,020,000 after buying an additional 8,044 shares in the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings raised Innovative Industrial Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Piper Sandler boosted their price target on shares of Innovative Industrial Properties from $43.00 to $44.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $78.50.

Insider Activity

In other news, CFO David Jon Smith bought 600 shares of the stock in a transaction dated Thursday, November 20th. The stock was purchased at an average price of $45.90 per share, for a total transaction of $27,540.00. Following the acquisition, the chief financial officer owned 600 shares of the company’s stock, valued at $27,540. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alan D. Gold purchased 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were purchased at an average cost of $49.09 per share, with a total value of $127,634.00. Following the completion of the purchase, the chairman owned 2,600 shares in the company, valued at $127,634. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 4,200 shares of company stock valued at $201,434 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Innovative Industrial Properties Trading Down 1.0%

Shares of IIPR stock opened at $50.89 on Friday. The company has a market cap of $1.43 billion, a PE ratio of 12.06 and a beta of 1.50. Innovative Industrial Properties, Inc. has a 1 year low of $44.58 and a 1 year high of $109.33. The stock’s 50 day simple moving average is $51.67 and its two-hundred day simple moving average is $53.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 2.75.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results 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 company had revenue of $64.69 million during the quarter, compared to analysts’ expectations of $63.72 million. During the same quarter last year, the firm posted $2.25 EPS. Innovative Industrial Properties’s revenue for the quarter was down 15.4% compared to the same quarter last year. Research analysts predict that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $1.90 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $7.60 annualized dividend and a dividend yield of 14.9%. Innovative Industrial Properties’s dividend payout ratio is currently 180.09%.

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.