Innovative Industrial Properties Inc (IIPR) Stake Lifted by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of Innovative Industrial Properties Inc (NYSE:IIPR) by 21.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,013 shares of the company’s stock after purchasing an additional 27,258 shares during the period. Vanguard Group Inc. owned approximately 4.34% of Innovative Industrial Properties worth $2,563,000 at the end of the most recent quarter.

Innovative Industrial Properties Inc (NYSE:IIPR) traded up $0.08 during midday trading on Thursday, hitting $19.36. 23,800 shares of the stock were exchanged, compared to its average volume of 31,792. Innovative Industrial Properties Inc has a 52 week low of $15.45 and a 52 week high of $19.95. The company has a market cap of $67.50 and a P/E ratio of 482.00.

Innovative Industrial Properties (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Innovative Industrial Properties had a negative net margin of 108.39% and a negative return on equity of 8.09%. The company had revenue of $1.56 million during the quarter. equities research analysts forecast that Innovative Industrial Properties Inc will post 0.18 EPS for the current year.

A number of research firms have recently issued reports on IIPR. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Innovative Industrial Properties in a report on Friday, October 20th. Zacks Investment Research downgraded shares of Innovative Industrial Properties from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 24th.

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About Innovative Industrial Properties

Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.

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