Sigma Planning Corp Sells 4,457 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Sigma Planning Corp lowered its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 64.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,465 shares of the company’s stock after selling 4,457 shares during the period. Sigma Planning Corp’s holdings in Innovative Industrial Properties were worth $249,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Headlands Technologies LLC bought a new position in Innovative Industrial Properties in the 3rd quarter valued at approximately $25,000. FNY Investment Advisers LLC bought a new position in shares of Innovative Industrial Properties in the 4th quarter valued at $40,000. Independence Bank of Kentucky boosted its holdings in shares of Innovative Industrial Properties by 82.9% during the 4th quarter. Independence Bank of Kentucky now owns 640 shares of the company’s stock valued at $65,000 after acquiring an additional 290 shares in the last quarter. Headinvest LLC bought a new stake in Innovative Industrial Properties during the 3rd quarter worth $62,000. Finally, VisionPoint Advisory Group LLC increased its holdings in Innovative Industrial Properties by 5,610.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,142 shares of the company’s stock worth $86,000 after purchasing an additional 1,122 shares in the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

Wall Street Analyst Weigh In

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

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock opened at $97.71 on Monday. The stock’s 50 day moving average is $97.76 and its 200 day moving average is $91.03. Innovative Industrial Properties, Inc. has a one year low of $64.56 and a one year high of $105.81. The firm has a market cap of $2.76 billion, a P/E 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.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results 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). Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. The firm had revenue of $79.16 million during the quarter, compared to analyst estimates of $76.55 million. As a group, research analysts expect that Innovative Industrial Properties, Inc. will post 8.49 EPS for the current year.

Innovative Industrial Properties Announces Dividend

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

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.