Bogart Wealth LLC Takes $27,000 Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Bogart Wealth LLC bought a new stake in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 400 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Innovative Industrial Properties by 17.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 237,206 shares of the company’s stock worth $31,928,000 after purchasing an additional 35,269 shares during the last quarter. Barclays PLC raised its position in shares of Innovative Industrial Properties by 187.5% in the 3rd quarter. Barclays PLC now owns 47,988 shares of the company’s stock worth $6,459,000 after purchasing an additional 31,295 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Innovative Industrial Properties by 31.9% in the 3rd quarter. Geode Capital Management LLC now owns 52,872 shares of the company’s stock worth $7,133,000 after purchasing an additional 12,791 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Innovative Industrial Properties in the 3rd quarter worth about $713,000. Finally, Versor Investments LP raised its position in Innovative Industrial Properties by 98.3% in the 3rd quarter. Versor Investments LP now owns 12,227 shares of the company’s stock worth $1,646,000 after buying an additional 6,062 shares during the last quarter. Institutional investors own 70.58% of the company’s stock.

Innovative Industrial Properties Trading Down 1.9 %

Shares of Innovative Industrial Properties stock opened at $73.17 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.53 and a quick ratio of 11.53. The stock has a market capitalization of $2.07 billion, a PE ratio of 13.02 and a beta of 1.40. Innovative Industrial Properties, Inc. has a 1-year low of $62.45 and a 1-year high of $138.35. The company’s fifty day simple moving average is $75.38 and its 200-day simple moving average is $105.87.

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 10.39%. The ex-dividend date of this dividend was Tuesday, December 31st. Innovative Industrial Properties’s dividend payout ratio is presently 135.23%.

Analyst Ratings Changes

A number of brokerages have weighed in on IIPR. Piper Sandler lowered Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $118.00 to $70.00 in a research report on Friday, December 20th. JMP Securities reissued a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Alliance Global Partners lowered Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 23rd. Roth Capital raised Innovative Industrial Properties to a “strong-buy” rating in a research report on Monday, November 11th. Finally, BTIG Research cut Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.50.

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.