Bryn Mawr Capital Management LLC Lowers Stock Position in Innovative Industrial Properties, Inc. (NYSE:IIPR)

Bryn Mawr Capital Management LLC lessened its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 12.8% in the 4th quarter, according to its most recent filing 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’s holdings in Innovative Industrial Properties were worth $1,608,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of IIPR. Atria Wealth Solutions Inc. purchased a new stake in Innovative Industrial Properties during the fourth quarter valued at approximately $245,000. GAMMA Investing LLC purchased a new stake in Innovative Industrial Properties during the fourth quarter valued at approximately $26,000. California Public Employees Retirement System lifted its position in Innovative Industrial Properties by 2.0% during the fourth quarter. California Public Employees Retirement System now owns 56,091 shares of the company’s stock valued at $5,655,000 after acquiring an additional 1,090 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Innovative Industrial Properties by 14.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 52,504 shares of the company’s stock valued at $5,293,000 after acquiring an additional 6,618 shares during the last quarter. Finally, Significant Wealth Partners LLC purchased a new stake in Innovative Industrial Properties during the fourth quarter valued at approximately $2,067,000. Hedge funds and other institutional investors own 70.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IIPR. 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 raised their price target on shares of Innovative Industrial Properties from $85.00 to $103.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Innovative Industrial Properties has an average rating of “Hold” and an average target price of $92.67.

Innovative Industrial Properties Stock Performance

Shares of NYSE IIPR traded down $0.17 during midday trading on Friday, reaching $97.71. The company had a trading volume of 101,429 shares, compared to its average volume of 217,540. The business’s 50-day simple moving average is $97.65 and its 200 day simple moving average is $90.66. The stock has a market cap of $2.76 billion, a P/E ratio of 16.93 and a beta of 1.49. Innovative Industrial Properties, Inc. has a 1 year low of $64.56 and a 1 year high of $105.81. The company has a current ratio of 14.22, a quick ratio of 14.22 and a debt-to-equity ratio of 0.16.

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

Innovative Industrial Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders 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 dividend yield of 7.45%. Innovative Industrial Properties’s payout ratio is currently 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.