Public Employees Retirement System of Ohio Has $5.46 Million Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Public Employees Retirement System of Ohio lifted its holdings in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,531 shares of the company’s stock after buying an additional 356 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.14% of Innovative Industrial Properties worth $5,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IIPR. Wellington Management Group LLP boosted its holdings in Innovative Industrial Properties by 48.6% during the third quarter. Wellington Management Group LLP now owns 568,280 shares of the company’s stock worth $76,490,000 after buying an additional 185,855 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Innovative Industrial Properties by 1,054.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,065 shares of the company’s stock valued at $8,354,000 after acquiring an additional 56,689 shares during the period. Dimensional Fund Advisors LP boosted its stake in Innovative Industrial Properties by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 328,344 shares of the company’s stock worth $35,862,000 after acquiring an additional 45,779 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Innovative Industrial Properties by 279.1% during the second quarter. Jupiter Asset Management Ltd. now owns 47,343 shares of the company’s stock valued at $5,171,000 after purchasing an additional 34,854 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Innovative Industrial Properties by 97.5% in the second quarter. Thrivent Financial for Lutherans now owns 48,034 shares of the company’s stock valued at $5,246,000 after purchasing an additional 23,709 shares in the last quarter. 70.58% of the stock is owned by institutional investors.

Innovative Industrial Properties Stock Up 0.9 %

IIPR stock opened at $104.72 on Friday. The business has a 50-day moving average of $117.98 and a 200-day moving average of $118.39. Innovative Industrial Properties, Inc. has a fifty-two week low of $87.52 and a fifty-two week high of $138.35. The stock has a market capitalization of $2.97 billion, a P/E ratio of 18.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.76). Innovative Industrial Properties had a net margin of 52.51% and a return on equity of 8.44%. The business had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. During the same quarter last year, the business earned $2.29 earnings per share. Innovative Industrial Properties’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.90 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $7.60 annualized dividend and a yield of 7.26%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 135.23%.

Wall Street Analyst Weigh In

IIPR has been the topic of several recent analyst reports. Compass Point upgraded Innovative Industrial Properties from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Friday, November 8th. Wolfe Research upgraded Innovative Industrial Properties to a “hold” rating in a research report on Monday, September 23rd. Roth Capital upgraded shares of Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. Finally, Piper Sandler reduced their price target on shares of Innovative Industrial Properties from $120.00 to $118.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.67.

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.