Nisa Investment Advisors LLC Acquires 18,365 Shares of Innovative Industrial Properties, Inc. $IIPR

Nisa Investment Advisors LLC raised its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 112.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,702 shares of the company’s stock after acquiring an additional 18,365 shares during the period. Nisa Investment Advisors LLC’s holdings in Innovative Industrial Properties were worth $1,927,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its stake in Innovative Industrial Properties by 50.3% during the second quarter. AdvisorNet Financial Inc now owns 559 shares of the company’s stock worth $31,000 after purchasing an additional 187 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Innovative Industrial Properties by 2.1% in the second quarter. Daiwa Securities Group Inc. now owns 9,878 shares of the company’s stock valued at $545,000 after acquiring an additional 207 shares during the last quarter. Bank of Montreal Can lifted its holdings in Innovative Industrial Properties by 4.6% in the second quarter. Bank of Montreal Can now owns 5,259 shares of the company’s stock valued at $290,000 after buying an additional 229 shares during the period. California State Teachers Retirement System grew its stake in shares of Innovative Industrial Properties by 1.0% during the second quarter. California State Teachers Retirement System now owns 26,152 shares of the company’s stock worth $1,444,000 after purchasing an additional 264 shares during the period. Finally, Centaurus Financial Inc. raised its position in shares of Innovative Industrial Properties by 2.5% in the 2nd quarter. Centaurus Financial Inc. now owns 12,942 shares of the company’s stock valued at $715,000 after acquiring an additional 312 shares during the period. Institutional investors and hedge funds own 70.58% of the company’s stock.

Insider Transactions at Innovative Industrial Properties

In other Innovative Industrial Properties news, CFO David Jon Smith purchased 600 shares of Innovative Industrial Properties stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average price of $45.90 per share, with a total value of $27,540.00. Following the transaction, the chief financial officer owned 600 shares in the company, valued at $27,540. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alan D. Gold acquired 2,600 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were bought at an average cost of $49.09 per share, with a total value of $127,634.00. Following the completion of the acquisition, the chairman directly owned 2,600 shares in the company, valued at approximately $127,634. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 4,200 shares of company stock worth $201,434 in the last three months. Insiders own 2.00% of the company’s stock.

Innovative Industrial Properties Price Performance

IIPR stock opened at $49.91 on Wednesday. Innovative Industrial Properties, Inc. has a 12 month low of $44.58 and a 12 month high of $75.71. The firm has a market cap of $1.40 billion, a P/E ratio of 11.83 and a beta of 1.46. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $50.64 and its two-hundred day moving average price is $52.88.

Innovative Industrial Properties (NYSE:IIPR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.02). Innovative Industrial Properties had a net margin of 45.80% and a return on equity of 6.77%. The company had revenue of $64.69 million for the quarter, compared to the consensus estimate of $63.72 million. During the same period last year, the firm posted $2.25 earnings per share. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, analysts anticipate that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 15.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Innovative Industrial Properties’s payout ratio is currently 180.09%.

Analyst Upgrades and Downgrades

IIPR has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Innovative Industrial Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, December 29th. Piper Sandler raised their price target on shares of Innovative Industrial Properties from $43.00 to $44.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $68.20.

Innovative Industrial Properties Company Profile

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.