Innovative Industrial Properties, Inc. (NYSE:IIPR) Chairman Alan D. Gold Sells 566 Shares of Stock

Innovative Industrial Properties, Inc. (NYSE:IIPR) Chairman Alan D. Gold sold 566 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $35.80, for a total value of $20,262.80. Following the completion of the transaction, the chairman now owns 42,011 shares of the company’s stock, valued at approximately $1,503,993.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Innovative Industrial Properties stock opened at $191.26 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 280.52 and a quick ratio of 280.52. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 53.88 and a beta of 1.44. Innovative Industrial Properties, Inc. has a fifty-two week low of $85.40 and a fifty-two week high of $222.08. The firm has a fifty day moving average price of $181.20.

Innovative Industrial Properties (NYSE:IIPR) last posted its earnings results on Wednesday, May 5th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.08. Innovative Industrial Properties had a return on equity of 6.11% and a net margin of 57.54%. On average, equities research analysts anticipate that Innovative Industrial Properties, Inc. will post 6.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were paid a dividend of $1.32 per share. The ex-dividend date was Tuesday, March 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from Innovative Industrial Properties’s previous quarterly dividend of $1.24. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 105.60%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Total Clarity Wealth Management Inc. acquired a new stake in shares of Innovative Industrial Properties during the first quarter valued at $30,000. Inspire Advisors LLC purchased a new position in Innovative Industrial Properties during the fourth quarter worth about $32,000. Cordasco Financial Network purchased a new position in Innovative Industrial Properties during the first quarter worth about $36,000. Rockbridge Investment Management LCC purchased a new position in Innovative Industrial Properties during the first quarter worth about $37,000. Finally, Ameritas Investment Company LLC purchased a new position in Innovative Industrial Properties during the first quarter worth about $38,000. 76.40% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research cut Innovative Industrial Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $188.63.

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 medical-use 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.

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Insider Buying and Selling by Quarter for Innovative Industrial Properties (NYSE:IIPR)

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