Deutsche Bank AG Buys Shares of 39,196 Innovative Industrial Properties, Inc. $IIPR

Deutsche Bank AG purchased a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) during the second quarter, according to its most recent filing with the SEC. The firm purchased 39,196 shares of the company’s stock, valued at approximately $2,429,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Innovative Industrial Properties by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 540,742 shares of the company’s stock worth $25,610,000 after acquiring an additional 23,901 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Innovative Industrial Properties by 3,423.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 539,600 shares of the company’s stock valued at $27,066,000 after acquiring an additional 524,284 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Innovative Industrial Properties by 26.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 509,124 shares of the company’s stock valued at $24,112,000 after purchasing an additional 105,569 shares during the last quarter. Invesco Ltd. raised its position in shares of Innovative Industrial Properties by 12.1% in the 4th quarter. Invesco Ltd. now owns 493,507 shares of the company’s stock valued at $23,372,000 after purchasing an additional 53,143 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Innovative Industrial Properties by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the company’s stock worth $18,399,000 after purchasing an additional 16,444 shares in the last quarter. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IIPR shares. Piper Sandler boosted their target price on shares of Innovative Industrial Properties from $45.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Innovative Industrial Properties from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $48.00.

Innovative Industrial Properties Price Performance

Shares of Innovative Industrial Properties stock opened at $56.47 on Friday. The firm has a market cap of $1.56 billion, a PE ratio of 12.80 and a beta of 1.38. Innovative Industrial Properties, Inc. has a twelve month low of $44.58 and a twelve month high of $65.38. The company has a quick ratio of 24.51, a current ratio of 24.51 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $60.38 and a 200 day moving average price of $56.06.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.34. Innovative Industrial Properties had a return on equity of 7.73% and a net margin of 52.27%.The company had revenue of $63.31 million for the quarter, compared to the consensus estimate of $67.09 million. Sell-side analysts predict that Innovative Industrial Properties, Inc. will post 7.15 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $1.90 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 13.5%. Innovative Industrial Properties’s dividend payout ratio (DPR) is 172.34%.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.