Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Purchased by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC grew its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 42.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,236 shares of the company’s stock after buying an additional 3,915 shares during the period. Villanova Investment Management Co LLC’s holdings in Innovative Industrial Properties were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of IIPR. Bogart Wealth LLC purchased a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at approximately $27,000. Compass Financial Services Inc acquired a new stake in Innovative Industrial Properties in the fourth quarter valued at $32,000. Smartleaf Asset Management LLC grew its stake in shares of Innovative Industrial Properties by 182.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock worth $43,000 after purchasing an additional 417 shares during the period. Headlands Technologies LLC purchased a new position in shares of Innovative Industrial Properties in the 4th quarter valued at about $50,000. Finally, Sierra Ocean LLC purchased a new position in shares of Innovative Industrial Properties in the 4th quarter valued at about $77,000. 70.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on IIPR. JMP Securities restated a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Alliance Global Partners downgraded Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 23rd. Compass Point reiterated a “sell” rating and set a $50.00 target price (down from $60.00) on shares of Innovative Industrial Properties in a research report on Monday. Industrial Alliance Securities set a $60.00 price target on Innovative Industrial Properties in a research report on Tuesday, March 18th. Finally, BTIG Research lowered shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.00.

Insider Buying and Selling at Innovative Industrial Properties

In other news, Director David Stecher sold 7,599 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $70.55, for a total value of $536,109.45. Following the transaction, the director now directly owns 1,346 shares in the company, valued at $94,960.30. This trade represents a 84.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

Innovative Industrial Properties Trading Down 15.2 %

Innovative Industrial Properties stock opened at $54.08 on Tuesday. The stock has a market cap of $1.53 billion, a PE ratio of 9.78 and a beta of 1.49. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $69.98 and a 200 day moving average price of $94.55. Innovative Industrial Properties, Inc. has a 52 week low of $49.51 and a 52 week high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. Innovative Industrial Properties had a return on equity of 8.39% and a net margin of 52.40%. The company had revenue of $76.74 million during the quarter, compared to analysts’ expectations of $76.21 million. Equities research analysts predict that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 14.05%. The ex-dividend date of this dividend is Monday, March 31st. Innovative Industrial Properties’s dividend payout ratio is currently 137.43%.

About Innovative Industrial Properties

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.