Centaurus Financial Inc. Purchases New Stake in Innovative Industrial Properties, Inc. $IIPR

Centaurus Financial Inc. purchased a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,373 shares of the company’s stock, valued at approximately $891,000. Centaurus Financial Inc. owned approximately 0.05% of Innovative Industrial Properties at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Innovative Industrial Properties during the fourth quarter worth about $25,000. Advisory Services Network LLC bought a new stake in Innovative Industrial Properties during the 3rd quarter worth approximately $34,000. Los Angeles Capital Management LLC purchased a new stake in shares of Innovative Industrial Properties in the fourth quarter worth approximately $35,000. Headlands Technologies LLC lifted its holdings in shares of Innovative Industrial Properties by 109.4% in the second quarter. Headlands Technologies LLC now owns 758 shares of the company’s stock valued at $42,000 after purchasing an additional 396 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in shares of Innovative Industrial Properties during the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock opened at $56.45 on Friday. The business’s fifty day simple moving average is $60.31 and its 200 day simple moving average is $56.06. The firm has a market capitalization of $1.56 billion, a P/E ratio of 12.80 and a beta of 1.38. Innovative Industrial Properties, Inc. has a 12 month low of $44.58 and a 12 month high of $65.38. The company has a current ratio of 24.51, a quick ratio of 24.51 and a debt-to-equity ratio of 0.35.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.34. Innovative Industrial Properties had a return on equity of 7.73% and a net margin of 52.27%.The firm had revenue of $63.31 million during the quarter, compared to the consensus estimate of $67.09 million. As a group, analysts anticipate that Innovative Industrial Properties, Inc. will post 7.05 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 13.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Innovative Industrial Properties’s payout ratio is 172.34%.

Analyst Ratings Changes

A number of equities research analysts recently commented on IIPR shares. Weiss Ratings raised Innovative Industrial Properties from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Zacks Research downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Piper Sandler boosted their price target on shares of Innovative Industrial Properties from $45.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $48.00.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.