Snow Park Capital Partners LP purchased a new stake in Innovative Industrial Properties Inc (NYSE:IIPR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,535 shares of the company’s stock, valued at approximately $793,000. Innovative Industrial Properties accounts for 0.3% of Snow Park Capital Partners LP’s investment portfolio, making the stock its 25th biggest position. Snow Park Capital Partners LP owned 0.39% of Innovative Industrial Properties at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in IIPR. Macquarie Group Ltd. bought a new position in Innovative Industrial Properties during the fourth quarter worth about $174,000. Renaissance Technologies LLC boosted its holdings in shares of Innovative Industrial Properties by 48.9% during the fourth quarter. Renaissance Technologies LLC now owns 19,500 shares of the company’s stock worth $630,000 after acquiring an additional 6,400 shares during the period. Virtu Financial LLC bought a new stake in shares of Innovative Industrial Properties during the fourth quarter worth approximately $255,000. Acadian Asset Management LLC bought a new stake in shares of Innovative Industrial Properties during the fourth quarter worth approximately $261,000. Finally, Symmetry Peak Management LLC bought a new stake in shares of Innovative Industrial Properties during the fourth quarter worth approximately $565,000. Institutional investors own 10.44% of the company’s stock.
Shares of Innovative Industrial Properties stock traded down $0.36 during trading on Friday, hitting $30.32. The company’s stock had a trading volume of 67,117 shares, compared to its average volume of 136,174. The stock has a market cap of $195.19, a price-to-earnings ratio of 45.25 and a beta of -0.70. Innovative Industrial Properties Inc has a 52 week low of $15.72 and a 52 week high of $36.88.
Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Wednesday, March 28th. The company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.11). Innovative Industrial Properties had a negative net margin of 1.12% and a negative return on equity of 0.12%. The firm had revenue of $2.28 million for the quarter. equities research analysts anticipate that Innovative Industrial Properties Inc will post 1.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.30%. Innovative Industrial Properties’s dividend payout ratio is presently 149.25%.
A number of research firms have recently weighed in on IIPR. Zacks Investment Research upgraded shares of Innovative Industrial Properties from a “sell” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, December 25th. Ladenburg Thalmann restated a “buy” rating and set a $34.00 price objective (up from $23.00) on shares of Innovative Industrial Properties in a research report on Wednesday, January 24th.
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Innovative Industrial Properties Company Profile
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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