Curi Wealth Management LLC Invests $41,000 in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Curi Wealth Management LLC acquired a new position in Innovative Industrial Properties, Inc. (NYSE:IIPRGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC boosted its holdings in Innovative Industrial Properties by 1.0% during the 4th quarter. Flagship Harbor Advisors LLC now owns 5,174 shares of the company’s stock valued at $1,360,000 after acquiring an additional 52 shares during the period. Main Street Financial Solutions LLC boosted its holdings in Innovative Industrial Properties by 2.8% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,073 shares of the company’s stock valued at $545,000 after acquiring an additional 56 shares during the period. Ninepoint Partners LP boosted its holdings in Innovative Industrial Properties by 5.6% during the 4th quarter. Ninepoint Partners LP now owns 1,328 shares of the company’s stock valued at $349,000 after acquiring an additional 71 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Innovative Industrial Properties by 2.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 3,269 shares of the company’s stock valued at $859,000 after acquiring an additional 79 shares during the period. Finally, Personal CFO Solutions LLC boosted its holdings in Innovative Industrial Properties by 6.8% during the 1st quarter. Personal CFO Solutions LLC now owns 1,375 shares of the company’s stock valued at $282,000 after acquiring an additional 88 shares during the period. 66.91% of the stock is currently owned by hedge funds and other institutional investors.

Innovative Industrial Properties Stock Down 4.1 %

Shares of NYSE:IIPR opened at $94.41 on Friday. Innovative Industrial Properties, Inc. has a 52-week low of $88.38 and a 52-week high of $288.02. The firm has a market capitalization of $2.64 billion, a P/E ratio of 18.58 and a beta of 1.63. The stock has a 50 day moving average price of $110.95 and a 200-day moving average price of $152.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 28.15 and a current ratio of 55.21.

Innovative Industrial Properties (NYSE:IIPRGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.59). Innovative Industrial Properties had a return on equity of 8.01% and a net margin of 54.07%. The firm had revenue of $64.50 million during the quarter, compared to the consensus estimate of $63.19 million. During the same period in the prior year, the company posted $1.47 EPS. The firm’s revenue was up 50.4% on a year-over-year basis. As a group, equities research analysts anticipate that Innovative Industrial Properties, Inc. will post 7.6 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date of this dividend was Wednesday, June 29th. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 137.80%.

Analysts Set New Price Targets

A number of research firms have commented on IIPR. Wolfe Research lowered Innovative Industrial Properties from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 19th. Piper Sandler lowered their price target on Innovative Industrial Properties to $160.00 in a research report on Monday, July 4th. Craig Hallum lowered their price target on Innovative Industrial Properties from $175.00 to $125.00 in a research report on Monday, July 18th. JMP Securities lowered their price target on Innovative Industrial Properties from $190.00 to $150.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 19th. Finally, TheStreet lowered Innovative Industrial Properties from a “b-” rating to a “c+” rating in a research report on Monday, July 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $185.60.

About Innovative Industrial Properties

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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 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.

Further Reading

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Institutional Ownership by Quarter for Innovative Industrial Properties (NYSE:IIPR)

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