Innovative Industrial Properties Inc (NYSE:IIPR) Director David Stecher bought 160 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $106.20 per share, for a total transaction of $16,992.00. Following the completion of the transaction, the director now directly owns 5,650 shares of the company’s stock, valued at approximately $600,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Innovative Industrial Properties stock traded up $7.80 during midday trading on Tuesday, hitting $107.41. The company’s stock had a trading volume of 518,865 shares, compared to its average volume of 458,009. The company has a debt-to-equity ratio of 0.53, a current ratio of 51.96 and a quick ratio of 209.93. The business’s 50-day simple moving average is $117.00. Innovative Industrial Properties Inc has a 12 month low of $34.25 and a 12 month high of $139.53. The firm has a market capitalization of $1.01 billion, a P/E ratio of 80.16 and a beta of 2.01.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.18). The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.37 million. Innovative Industrial Properties had a return on equity of 5.17% and a net margin of 47.83%. Innovative Industrial Properties’s revenue was up 160.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, equities analysts predict that Innovative Industrial Properties Inc will post 2.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, June 27th. This is an increase from Innovative Industrial Properties’s previous quarterly dividend of $0.45. Innovative Industrial Properties’s payout ratio is presently 179.10%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covenant Multifamily Offices LLC purchased a new position in Innovative Industrial Properties during the 1st quarter valued at about $25,000. CENTRAL TRUST Co purchased a new position in Innovative Industrial Properties during the 1st quarter valued at about $41,000. Focused Wealth Management Inc grew its stake in Innovative Industrial Properties by 230.0% during the 2nd quarter. Focused Wealth Management Inc now owns 330 shares of the company’s stock valued at $41,000 after acquiring an additional 230 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in Innovative Industrial Properties during the 2nd quarter valued at about $42,000. Finally, RPG Investment Advisory LLC grew its stake in Innovative Industrial Properties by 700.0% during the 1st quarter. RPG Investment Advisory LLC now owns 600 shares of the company’s stock valued at $49,000 after acquiring an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 61.11% of the company’s stock.

Several equities research analysts recently issued reports on the stock. BTIG Research raised their target price on shares of Innovative Industrial Properties to $148.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. TheStreet lowered shares of Innovative Industrial Properties from a “b-” rating to a “c” rating in a research note on Wednesday, August 7th. ValuEngine lowered shares of Innovative Industrial Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Innovative Industrial Properties from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Innovative Industrial Properties currently has a consensus rating of “Buy” and an average target price of $91.25.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial 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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