Segall Bryant & Hamill LLC Has $6.68 Million Stock Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Segall Bryant & Hamill LLC lowered its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 9.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,649 shares of the company’s stock after selling 5,465 shares during the period. Segall Bryant & Hamill LLC’s holdings in Innovative Industrial Properties were worth $6,683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Innovative Industrial Properties during the third quarter worth $25,000. Blue Trust Inc. boosted its stake in shares of Innovative Industrial Properties by 2,085.7% during the 2nd quarter. Blue Trust Inc. now owns 459 shares of the company’s stock worth $48,000 after buying an additional 438 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Innovative Industrial Properties by 42.3% in the 2nd quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $55,000 after acquiring an additional 150 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Innovative Industrial Properties by 138.1% in the second quarter. Federated Hermes Inc. now owns 538 shares of the company’s stock valued at $59,000 after acquiring an additional 312 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Innovative Industrial Properties by 75.3% during the third quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after acquiring an additional 189 shares in the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Performance

NYSE IIPR opened at $105.77 on Friday. Innovative Industrial Properties, Inc. has a 52-week low of $78.10 and a 52-week high of $138.35. The stock has a market cap of $3.00 billion, a PE ratio of 18.82 and a beta of 1.37. The firm has a 50-day moving average of $126.79 and a 200-day moving average of $118.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). The firm had revenue of $76.53 million for the quarter, compared to the consensus estimate of $77.30 million. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 EPS. On average, sell-side analysts anticipate that Innovative Industrial Properties, Inc. will post 8.36 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date of this dividend was Monday, September 30th. Innovative Industrial Properties’s dividend payout ratio is currently 135.23%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wolfe Research raised Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd. Roth Capital upgraded shares of Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Piper Sandler cut their price target on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, Compass Point upgraded shares of Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.67.

Innovative Industrial Properties 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.