Blue Trust Inc. has $48,000 position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Blue Trust Inc. raised its position in Innovative Industrial Properties, Inc. (NYSE:IIPR – Free Report) by 2,085.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 459 shares of the company’s stock after buying an additional 438 shares during the quarter. Holdings of Blue Trust Inc. in Innovative Industrial Properties were worth $48,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Innovative Industrial Properties in the fourth quarter valued at approximately $31,116,000. Tidal Investments LLC boosted its position in shares of Innovative Industrial Properties by 1,465.1% in the first quarter. Tidal Investments LLC now owns 236,929 shares of the company’s stock worth $24,532,000 after purchasing an additional 221,791 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Innovative Industrial Properties during the fourth quarter valued at $14,952,000. Dimensional Fund Advisors LP raised its position in Innovative Industrial Properties by 57.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 202,637 shares of the company’s stock valued at $20,430,000 after purchasing an additional 74,289 shares during the period. Finally, LSV Asset Management boosted its stake in Innovative Industrial Properties by 124.4% in the first quarter. LSV Asset Management now owns 101,373 shares of the company’s stock worth $10,496,000 after acquiring an additional 56,200 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company’s shares.

Stock performance of innovative industrial properties

Shares of IIPR stock opened at $120.90 on Friday. Innovative Industrial Properties, Inc. it has a fifty-two week low of $69.08 and a fifty-two week high of $125.44. The stock’s 50-day moving average is $114.89, and its two-hundred-day moving average is $105.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 14.27, and a quick ratio of 14.27. The firm has a market cap of $3.42 billion, a P/E ratio of 21.21 and a beta of 1.37.

Innovative Industrial Properties (NYSE:IIPR – Get Free Report ) last issued its quarterly earnings data on Monday, August 5th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.64). The firm had revenue of $79.79 million during the quarter, compared to analyst estimates of $77.18 million. Innovative Industrial Properties had a return on equity of 8.46% and a net margin of 53.07%. The company’s quarterly revenue was up 4.4% year over year. In the same quarter last year, the company posted EPS of $2.26. Analysts predict that Innovative Industrial Properties, Inc. will post 8.38 earnings per share for the current fiscal year.

Innovative industrial properties increase dividends

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $1.90 per share. The ex-dividend date was Thursday, June 27. This represents a dividend of $7.60 on an annualized basis and a dividend yield of 6.29%. This is an increase from Innovative Industrial Properties’ previous quarterly dividend of $1.82. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 133.33%.

Analysts on Wall Street are forecasting an increase

A number of equities analysts have recently weighed in on the company. Roth Mkm boosted their price target on Innovative Industrial Properties from $115.00 to $140.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Piper Sandler boosted their price objective on shares of Innovative Industrial Properties from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat , Innovative Industrial Properties has a consensus rating of “Hold” and an average target price of $118.33.

Get the latest stock analysis on innovative industrial properties

About innovative industrial properties

(Free report)

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on acquiring, owning and managing specialty properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc elected to be taxed as a real estate investment trust beginning with the year ended December 31, 2017.

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