EntryPoint Capital LLC Invests $250,000 in Innovative Industrial Properties, Inc. (NYSE:IIPR)

EntryPoint Capital LLC bought a new stake in Innovative Industrial Properties, Inc. (NYSE:IIPR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,756 shares of the company’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds also recently modified their holdings of IIPR. Bogart Wealth LLC bought a new stake in Innovative Industrial Properties in the fourth quarter worth about $27,000. Compass Financial Services Inc bought a new stake in shares of Innovative Industrial Properties in the 4th quarter worth approximately $32,000. Smartleaf Asset Management LLC raised its holdings in shares of Innovative Industrial Properties by 182.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the company’s stock worth $43,000 after purchasing an additional 417 shares during the period. Loomis Sayles & Co. L P lifted its stake in Innovative Industrial Properties by 3,130.8% in the third quarter. Loomis Sayles & Co. L P now owns 420 shares of the company’s stock valued at $57,000 after purchasing an additional 407 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Innovative Industrial Properties in the fourth quarter worth $77,000. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties Stock Performance

Innovative Industrial Properties stock opened at $63.77 on Friday. Innovative Industrial Properties, Inc. has a 1-year low of $61.72 and a 1-year high of $138.35. The company has a current ratio of 14.32, a quick ratio of 11.53 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.81 billion, a PE ratio of 11.53 and a beta of 1.49. The firm’s 50 day simple moving average is $70.26 and its 200 day simple moving average is $95.48.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Wednesday, February 19th. The company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. The firm had revenue of $76.74 million for the quarter, compared to analysts’ expectations of $76.21 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 11.92%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 137.43%.

Insider Transactions at Innovative Industrial Properties

In other news, Director David Stecher sold 7,599 shares of Innovative Industrial Properties stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $70.55, for a total transaction of $536,109.45. Following the completion of the sale, the director now directly owns 1,346 shares of the company’s stock, valued at approximately $94,960.30. The trade was a 84.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IIPR shares. JMP Securities reaffirmed a “market perform” rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Compass Point dropped their price objective on shares of Innovative Industrial Properties from $78.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Roth Mkm lowered their price target on shares of Innovative Industrial Properties from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Alliance Global Partners downgraded shares of Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $88.00.

About Innovative Industrial Properties

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.