Bryn Mawr Capital Management LLC Sells 2,343 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Bryn Mawr Capital Management LLC decreased its stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,950 shares of the company’s stock after selling 2,343 shares during the period. Bryn Mawr Capital Management LLC owned 0.06% of Innovative Industrial Properties worth $1,608,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in IIPR. International Assets Investment Management LLC bought a new stake in Innovative Industrial Properties in the fourth quarter worth about $14,952,000. American Assets Capital Advisers LLC bought a new stake in shares of Innovative Industrial Properties in the third quarter valued at approximately $7,347,000. Schonfeld Strategic Advisors LLC raised its position in shares of Innovative Industrial Properties by 187.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 108,195 shares of the company’s stock valued at $8,186,000 after purchasing an additional 70,612 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Innovative Industrial Properties by 118.3% in the third quarter. Oppenheimer & Co. Inc. now owns 74,483 shares of the company’s stock valued at $5,635,000 after purchasing an additional 40,367 shares during the period. Finally, Northern Trust Corp raised its position in shares of Innovative Industrial Properties by 8.6% in the third quarter. Northern Trust Corp now owns 358,166 shares of the company’s stock valued at $27,099,000 after purchasing an additional 28,403 shares during the period. Institutional investors own 70.58% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TheStreet raised shares of Innovative Industrial Properties from a “c+” rating to a “b-” rating in a research report on Wednesday, January 10th. Piper Sandler boosted their price target on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Innovative Industrial Properties presently has an average rating of “Hold” and an average target price of $92.67.

Innovative Industrial Properties Price Performance

Innovative Industrial Properties stock traded down $0.17 during midday trading on Friday, reaching $97.71. 101,429 shares of the stock were exchanged, compared to its average volume of 217,540. The company’s fifty day moving average is $97.65 and its 200-day moving average is $90.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 14.22 and a current ratio of 14.22. The firm has a market cap of $2.76 billion, a PE ratio of 16.93 and a beta of 1.49. Innovative Industrial Properties, Inc. has a 52 week low of $64.56 and a 52 week high of $105.81.

Innovative Industrial Properties (NYSE:IIPR) last posted its earnings results on Monday, February 26th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.62). Innovative Industrial Properties had a return on equity of 8.54% and a net margin of 53.50%. The firm had revenue of $79.16 million for the quarter, compared to the consensus estimate of $76.55 million. On average, sell-side analysts forecast that Innovative Industrial Properties, Inc. will post 8.49 EPS for the current year.

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $1.82 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $7.28 dividend on an annualized basis and a yield of 7.45%. Innovative Industrial Properties’s dividend payout ratio is presently 126.17%.

Innovative Industrial Properties 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.