400 Shares in Innovative Industrial Properties, Inc. (NYSE:IIPR) Purchased by Bogart Wealth LLC

Bogart Wealth LLC purchased a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 400 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its holdings in Innovative Industrial Properties by 3.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 41,816 shares of the company’s stock valued at $2,848,000 after buying an additional 1,484 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Innovative Industrial Properties by 10.4% in the 4th quarter. Van ECK Associates Corp now owns 5,349 shares of the company’s stock worth $356,000 after purchasing an additional 506 shares during the period. Cambiar Investors LLC boosted its holdings in shares of Innovative Industrial Properties by 370.0% in the 4th quarter. Cambiar Investors LLC now owns 108,284 shares of the company’s stock worth $7,216,000 after purchasing an additional 85,244 shares during the period. Bristlecone Advisors LLC boosted its holdings in shares of Innovative Industrial Properties by 4.6% in the 4th quarter. Bristlecone Advisors LLC now owns 13,177 shares of the company’s stock worth $878,000 after purchasing an additional 577 shares during the period. Finally, Compass Financial Services Inc purchased a new position in shares of Innovative Industrial Properties in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Price Performance

Shares of IIPR stock opened at $73.17 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53. The stock has a 50 day moving average price of $75.38 and a 200 day moving average price of $105.87. The firm has a market capitalization of $2.07 billion, a P/E ratio of 13.02 and a beta of 1.40. Innovative Industrial Properties, Inc. has a 52-week low of $62.45 and a 52-week high of $138.35.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 10.39%. The ex-dividend date was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 135.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Piper Sandler cut Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $118.00 to $70.00 in a report on Friday, December 20th. Roth Capital upgraded Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research note on Monday, December 16th. Finally, Compass Point lowered Innovative Industrial Properties from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $78.00 in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Innovative Industrial Properties currently has a consensus rating of “Hold” and an average target price of $104.50.

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.