According to the most recent filing that the Mitsubishi UFJ Kokusai Asset Management Co. Ltd. did with the SEC, during the third quarter of 2018, the company increased the amount of money it had invested in Innovative Industrial Properties, Inc. (NYSE: IIPR) by 11.3%. The fund had a total holding of 13,658 shares of the company’s stock at the end of the period, which resulted from purchasing an additional 1,392 shares of the company’s stock during the period. At the end of the most recent reporting period, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. held a total of 1,209,000 dollars worth of holdings in Innovative Industrial Properties.
Several additional significant investors have also changed the proportion of the company’s shares they own. During the second quarter of this year, Heritage Wealth Management LLC committed $25,000 to acquire a new share of Innovative Industrial Properties. Geneos Wealth Management Inc. achieved a 159.6% increase in the proportion of its holdings comprised of Innovative Industrial Properties during the second quarter. As a result of the purchase of 166 additional shares during the most recent quarter, Geneos Wealth Management Inc. now holds a total of 270 shares in the company. The current market value of these shares places their value at $30,000. Lazard Asset Management LLC increased its holdings in Innovative Industrial Properties by 1129% during the first three months of the year. After making an additional purchase of 210 shares during the most recent quarter, Lazard Asset Management LLC now has 396 shares of the company’s stock in its possession. There are 396 shares of stock in the company, and the total value of those shares is $81,000. During the second quarter of the fiscal year, EverSource Wealth Advisors LLC invested $47,000 into Innovative Industrial Properties to acquire a new stake in the company.
Last but not least, Baldwin Brothers LLC (MA) increased the percentage of innovative industrial properties it owned by 92.3% during the second quarter. Baldwin Brothers LLC now holds 625 shares of the company’s stock following the acquisition of an additional 300 shares over the preceding three months. The current market price for one share of the company’s stock is $69,000. Institutional investors and hedge funds collectively own 73.71 percent of the total number of shares issued by the company.
When trading began on Friday, the price per share of Innovative Industrial Properties was $89.03 and remained there throughout the day. The moving average price of the share of the stock calculated over the past 200 days is $101.72, and the moving average price calculated over the last 50 days is $109.28. It has been determined that the company has a market capitalization of $2.49 billion, that its price-to-earnings ratio is 17.12, and that its beta value is 1.63. All of these figures were determined through calculations. A debt-to-equity ratio of 0.15, a current ratio of 24.10, and a quick ratio of 24.10 are some of the present financial ratios. A share of Innovative Industrial Properties, Inc. can fluctuate within a range that extends from $87.47 to $211.17 over a single year.
The most recent earnings report for Innovative Industrial Properties, traded on the New York Stock Exchange under the symbol IIPR, was released on November 2. The actual earnings per share of the company for the quarter came in at $1.32, which was $0.60 less than the $1.92 that analysts had anticipated the company would earn per share. Innovative Industrial Properties had a return on equity of 7.92% and a net margin of 53.43% for the company overall. The revenue for the quarter came in significantly higher than the $68.60 million that analysts had anticipated, coming in at a total of $70.88 million instead. Innovative Industrial Properties, Inc. is expected to generate a profit of 7.71 cents per share in 2018, according to projections made by analysts who follow the industry.
The company just recently declared and distributed a quarterly dividend, which was paid out on January 13 and January 13 of this year. In addition, the company just recently announced and distributed a dividend. On Friday, December 30 December 30, dividend payments of $1.80 per share were made to investors recorded in the company’s books. Thursday, December 29 December 29, was the day that the dividend was disbursed; that day was also the month of December. The results of this calculation are a dividend yield of 8.09% and a dividend payment of $7.20 per annum. Both of these figures are annualized. Currently, the dividend payout ratio (DPR) for Innovative Industrial Properties equals 138.46% of total dividends.
Recently, several different research firms have had conversations regarding the IIPR as their focus topic. The recommendation for Innovative Industrial Properties was shifted from “sell” to “hold” in a report on the company’s market performance that was made available to the public on November 11 by StockNews.com. TheStreet upgraded Innovative Industrial Properties’ rating from “c+” to “b-” in a research report released on Friday, December 9. This change was made to reflect the progress that the company has made. JMP Securities downgraded their recommendation for Innovative Industrial Properties from “outperform” to “market perform” in a research note published on Friday. Craig Hallum raised their price target for “Innovative Industrial Properties” in a research report published on November 16. The new price target is $140.00. Piper Sandler lowered their price target for Innovative Industrial Properties from $135.00 to $117.00. She changed their rating for the company from “overweight” to “neutral” in a research note published on Friday, October 7. This was the final change, but certainly not the least important one. The stock has received a buy recommendation from four research analysts, while three have been assigned a hold rating. Bloomberg has assigned the stock of Innovative Industrial Properties the rating of “Moderate Buy,” and the consensus regarding the price target for the company is set at $166.67.
Innovative Industrial Properties, Inc. is a company with headquarters in Maryland that is devoted to acquiring, owning, and managing properties that are truly unique in some way. These properties are rented out to operators who have the necessary knowledge and are licensed by the state to use them for their regulated cannabis facilities intended for medical use. Innovative Industrial Properties, Inc. concluded that it would be more beneficial to be taxed as a real estate investment trust beginning with the fiscal year ending on December 31, 2017, and continuing forward. This decision was made because Innovative Industrial Properties, Inc. concluded that it would be more advantageous for it to be taxed as a