IMA Wealth Inc. Has $1.72 Million Stock Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

IMA Wealth Inc. trimmed its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 7.2% during the fourth quarter, Holdings Channel reports. The firm owned 17,042 shares of the company’s stock after selling 1,320 shares during the quarter. IMA Wealth Inc.’s holdings in Innovative Industrial Properties were worth $1,719,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Innovative Industrial Properties in the 3rd quarter valued at about $25,000. GAMMA Investing LLC acquired a new position in shares of Innovative Industrial Properties in the 4th quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new position in shares of Innovative Industrial Properties in the 4th quarter valued at about $40,000. Global Retirement Partners LLC lifted its stake in shares of Innovative Industrial Properties by 67.6% in the 3rd quarter. Global Retirement Partners LLC now owns 796 shares of the company’s stock valued at $58,000 after purchasing an additional 321 shares during the period. Finally, Headinvest LLC acquired a new position in shares of Innovative Industrial Properties in the 3rd quarter valued at about $62,000. 70.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler boosted their target price on Innovative Industrial Properties from $85.00 to $103.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. TheStreet raised Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.67.

Innovative Industrial Properties Stock Down 0.2 %

Innovative Industrial Properties stock traded down $0.17 during midday trading on Friday, reaching $97.71. The stock had a trading volume of 101,460 shares, compared to its average volume of 157,313. Innovative Industrial Properties, Inc. has a 12 month low of $64.56 and a 12 month high of $105.81. The company has a market capitalization of $2.76 billion, a P/E ratio of 16.93 and a beta of 1.49. The company has a fifty day moving average price of $97.76 and a two-hundred day moving average price of $90.82. The company has a current ratio of 14.22, a quick ratio of 14.22 and a debt-to-equity ratio of 0.16.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Monday, February 26th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.62). The company had revenue of $79.16 million for the quarter, compared to the consensus estimate of $76.55 million. Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. As a group, equities analysts expect that Innovative Industrial Properties, Inc. will post 8.49 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $1.82 per share. This represents a $7.28 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date was Wednesday, March 27th. Innovative Industrial Properties’s dividend payout ratio is currently 126.17%.

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.