Cambiar Investors LLC Purchases 85,244 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

Cambiar Investors LLC boosted its position in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 370.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 108,284 shares of the company’s stock after acquiring an additional 85,244 shares during the period. Cambiar Investors LLC’s holdings in Innovative Industrial Properties were worth $7,216,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Canton Hathaway LLC bought a new position in Innovative Industrial Properties in the third quarter worth about $55,000. Loomis Sayles & Co. L P raised its holdings 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 worth $57,000 after purchasing an additional 407 shares in the last quarter. US Bancorp DE raised its holdings in Innovative Industrial Properties by 75.3% in the third quarter. US Bancorp DE now owns 440 shares of the company’s stock worth $59,000 after purchasing an additional 189 shares in the last quarter. Compass Financial Services Inc bought a new position in Innovative Industrial Properties in the fourth quarter worth about $32,000. Finally, GAMMA Investing LLC raised its holdings in Innovative Industrial Properties by 46.3% in the third quarter. GAMMA Investing LLC now owns 632 shares of the company’s stock worth $85,000 after purchasing an additional 200 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Compass Point downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $78.00 in a report on Friday, December 20th. Roth Capital upgraded shares of Innovative Industrial Properties to a “strong-buy” rating in a report on Monday, November 11th. 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. Finally, Piper Sandler downgraded shares of Innovative Industrial Properties from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $118.00 to $70.00 in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $104.50.

Innovative Industrial Properties Price Performance

Shares of NYSE IIPR opened at $74.00 on Tuesday. The business’s 50 day moving average price is $78.05 and its 200 day moving average price is $107.14. The firm has a market cap of $2.10 billion, a P/E ratio of 13.17 and a beta of 1.40. Innovative Industrial Properties, Inc. has a 52 week low of $62.45 and a 52 week high of $138.35. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.15.

Innovative Industrial Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $1.90 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $7.60 dividend on an annualized basis and a yield of 10.27%. Innovative Industrial Properties’s dividend payout ratio is currently 135.23%.

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.