Hsbc Holdings PLC Purchases 8,189 Shares of Innovative Industrial Properties, Inc. $IIPR

Hsbc Holdings PLC increased its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,089 shares of the company’s stock after buying an additional 8,189 shares during the period. Hsbc Holdings PLC owned 0.16% of Innovative Industrial Properties worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its stake in shares of Innovative Industrial Properties by 18.9% during the 4th quarter. Corient Private Wealth LLC now owns 5,358 shares of the company’s stock worth $260,000 after purchasing an additional 850 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Innovative Industrial Properties by 25.6% in the 4th quarter. Sunbelt Securities Inc. now owns 25,760 shares of the company’s stock valued at $1,220,000 after purchasing an additional 5,245 shares during the last quarter. Invesco Ltd. lifted its stake in Innovative Industrial Properties by 12.1% in the 4th quarter. Invesco Ltd. now owns 493,507 shares of the company’s stock valued at $23,372,000 after purchasing an additional 53,143 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Innovative Industrial Properties by 1,551.2% during the fourth quarter. NewEdge Advisors LLC now owns 2,130 shares of the company’s stock worth $101,000 after purchasing an additional 2,001 shares during the period. Finally, Millennium Management LLC grew its holdings in Innovative Industrial Properties by 128.9% during the fourth quarter. Millennium Management LLC now owns 250,053 shares of the company’s stock worth $11,843,000 after purchasing an additional 140,826 shares during the period. Institutional investors and hedge funds own 70.58% of the company’s stock.

Innovative Industrial Properties Stock Performance

Shares of NYSE IIPR traded up $1.36 during trading hours on Friday, reaching $64.39. 347,756 shares of the stock were exchanged, compared to its average volume of 362,458. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 16.47 and a beta of 1.39. The stock’s fifty day simple moving average is $59.03 and its 200 day simple moving average is $53.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.06 and a current ratio of 6.06. Innovative Industrial Properties, Inc. has a 52 week low of $44.58 and a 52 week high of $64.55.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Monday, May 4th. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.05). Innovative Industrial Properties had a net margin of 45.58% and a return on equity of 6.62%. The firm had revenue of $69.00 million during the quarter, compared to analyst estimates of $65.65 million. During the same period in the prior year, the company earned $1.94 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts predict that Innovative Industrial Properties, Inc. will post 7.1 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $1.90 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $7.60 annualized dividend and a dividend yield of 11.8%. Innovative Industrial Properties’s dividend payout ratio is 194.37%.

Analyst Upgrades and Downgrades

IIPR has been the topic of several research analyst reports. Zacks Research lowered Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded Innovative Industrial Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Innovative Industrial Properties has a consensus rating of “Reduce” and a consensus price target of $45.00.

About Innovative Industrial Properties

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.