Strs Ohio Has $574,000 Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Strs Ohio cut its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,700 shares of the company’s stock after selling 200 shares during the quarter. Strs Ohio’s holdings in Innovative Industrial Properties were worth $574,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Innovative Industrial Properties by 4.3% during the third quarter. Van ECK Associates Corp now owns 3,271 shares of the company’s stock valued at $247,000 after acquiring an additional 136 shares in the last quarter. Detalus Advisors LLC increased its holdings in shares of Innovative Industrial Properties by 3.5% during the third quarter. Detalus Advisors LLC now owns 4,132 shares of the company’s stock valued at $313,000 after acquiring an additional 140 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Innovative Industrial Properties by 0.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 18,123 shares of the company’s stock valued at $1,827,000 after acquiring an additional 144 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Innovative Industrial Properties by 2.4% during the third quarter. Daiwa Securities Group Inc. now owns 8,898 shares of the company’s stock worth $673,000 after buying an additional 207 shares in the last quarter. Finally, Independence Bank of Kentucky grew its holdings in Innovative Industrial Properties by 82.9% during the fourth quarter. Independence Bank of Kentucky now owns 640 shares of the company’s stock worth $65,000 after buying an additional 290 shares in the last quarter. 70.58% of the stock is owned by institutional investors and hedge funds.

Innovative Industrial Properties Stock Down 0.2 %

Shares of NYSE:IIPR opened at $97.71 on Friday. The company has a market capitalization of $2.76 billion, a PE ratio of 16.93 and a beta of 1.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 14.22 and a quick ratio of 14.22. The business has a fifty day moving average price of $97.65 and a two-hundred day moving average price of $90.66. Innovative Industrial Properties, Inc. has a 1 year low of $64.56 and a 1 year high of $105.81.

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

Innovative Industrial Properties Announces Dividend

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

Analysts Set New Price Targets

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

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.