Jupiter Topco LLC Makes New $801,000 Investment in Innovative Industrial Properties, Inc. $IIPR

Jupiter Topco LLC acquired a new position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,925 shares of the company’s stock, valued at approximately $801,000.

A number of other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in Innovative Industrial Properties during the fourth quarter worth $25,000. Advisory Services Network LLC bought a new stake in Innovative Industrial Properties in the third quarter valued at $34,000. Los Angeles Capital Management LLC acquired a new position in shares of Innovative Industrial Properties during the fourth quarter valued at about $35,000. Headlands Technologies LLC boosted its position in shares of Innovative Industrial Properties by 109.4% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the company’s stock worth $42,000 after purchasing an additional 396 shares in the last quarter. Finally, Triumph Capital Management bought a new position in shares of Innovative Industrial Properties during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 70.58% of the company’s stock.

Insider Transactions at Innovative Industrial Properties

In related news, Director Bruce Alan Ives purchased 528 shares of the business’s stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $56.70 per share, for a total transaction of $29,937.60. Following the purchase, the director owned 3,180 shares of the company’s stock, valued at approximately $180,306. This trade represents a 19.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Innovative Industrial Properties Stock Down 0.5%

Innovative Industrial Properties stock opened at $56.93 on Monday. Innovative Industrial Properties, Inc. has a 1-year low of $44.58 and a 1-year high of $65.38. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 12.91 and a beta of 1.35. The firm’s fifty day moving average price is $59.88 and its two-hundred day moving average price is $56.48. The company has a current ratio of 24.51, a quick ratio of 24.51 and a debt-to-equity ratio of 0.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.34. The firm had revenue of $63.31 million during the quarter, compared to analysts’ expectations of $67.09 million. Innovative Industrial Properties had a net margin of 52.27% and a return on equity of 7.73%. On average, equities research analysts predict that Innovative Industrial Properties, Inc. will post 7.05 earnings per share for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $1.90 per share. The ex-dividend date was Tuesday, June 30th. This represents a $7.60 dividend on an annualized basis and a yield of 13.3%. Innovative Industrial Properties’s payout ratio is 172.34%.

Analyst Ratings Changes

IIPR has been the subject of a number of research analyst reports. Weiss Ratings raised Innovative Industrial Properties from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Piper Sandler increased their price target on Innovative Industrial Properties from $45.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $48.00.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.