Roberts Glore & Co. Inc. IL Has $327,000 Stock Position in Innovative Industrial Properties, Inc. $IIPR

Roberts Glore & Co. Inc. IL boosted its stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 56.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,928 shares of the company’s stock after buying an additional 2,130 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Innovative Industrial Properties were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Innovative Industrial Properties in the second quarter worth approximately $260,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Innovative Industrial Properties by 6.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,533 shares of the company’s stock worth $1,134,000 after purchasing an additional 1,299 shares during the period. Metis Global Partners LLC purchased a new position in Innovative Industrial Properties during the 2nd quarter worth approximately $255,000. Penserra Capital Management LLC raised its stake 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 purchasing an additional 8,044 shares during the period. Finally, Ethos Financial Group LLC lifted its holdings in shares of Innovative Industrial Properties by 20.4% in the second quarter. Ethos Financial Group LLC now owns 8,814 shares of the company’s stock valued at $487,000 after purchasing an additional 1,495 shares in the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties Trading Up 0.9%

NYSE:IIPR opened at $51.44 on Friday. The company has a market capitalization of $1.44 billion, a P/E ratio of 12.19 and a beta of 1.64. The stock’s 50 day moving average price is $54.39 and its 200 day moving average price is $54.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 10.30 and a current ratio of 2.75. Innovative Industrial Properties, Inc. has a 52 week low of $45.44 and a 52 week high of $112.82.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.71 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.02). The business had revenue of $64.69 million for the quarter, compared to analyst estimates of $63.72 million. Innovative Industrial Properties had a return on equity of 6.77% and a net margin of 45.80%.The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 EPS. On average, research analysts forecast that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $1.90 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 14.8%. Innovative Industrial Properties’s payout ratio is currently 180.09%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler upped their price target on Innovative Industrial Properties from $43.00 to $44.00 and gave the company an “underweight” rating in a research report on Wednesday. Weiss Ratings raised Innovative Industrial Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.50.

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.