NBW Capital LLC cut its stake in Innovative Industrial (NYSE:IIPR) by 23.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,032 shares of the company’s stock after selling 10,445 shares during the period. NBW Capital LLC owned approximately 0.55% of Innovative Industrial worth $937,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in IIPR. Acadian Asset Management LLC purchased a new stake in shares of Innovative Industrial during the fourth quarter valued at approximately $261,000. Essex Investment Management Co. LLC bought a new stake in Innovative Industrial during the fourth quarter valued at $836,000. Virtu Financial LLC bought a new stake in Innovative Industrial during the fourth quarter valued at $255,000. Renaissance Technologies LLC boosted its holdings in shares of Innovative Industrial by 48.9% during the fourth quarter. Renaissance Technologies LLC now owns 19,500 shares of the company’s stock valued at $630,000 after acquiring an additional 6,400 shares during the period. Finally, Two Sigma Investments LP acquired a new position in shares of Innovative Industrial during the fourth quarter valued at $792,000. 10.50% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on IIPR shares. Zacks Investment Research raised shares of Innovative Industrial from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Ladenburg Thalmann reaffirmed a “buy” rating and issued a $34.00 price objective (up previously from $23.00) on shares of Innovative Industrial in a report on Wednesday, January 24th. Finally, ValuEngine raised shares of Innovative Industrial from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd.
Innovative Industrial traded down $0.05, hitting $33.45, on Friday, according to Marketbeat Ratings. 731 shares of the company were exchanged, compared to its average volume of 183,598. The company has a market cap of $206.19 million, a PE ratio of 40.51 and a beta of -0.95. Innovative Industrial has a twelve month low of $32.51 and a twelve month high of $32.70.
Innovative Industrial (NYSE:IIPR) last posted its quarterly earnings data on Wednesday, May 9th. The company reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $2.76 million for the quarter. Innovative Industrial had a return on equity of 1.42% and a net margin of 14.26%. research analysts forecast that Innovative Industrial will post 1.38 earnings per share for the current fiscal year.
Innovative Industrial Company Profile
Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc intends to elect to be taxed as a real estate investment trust.
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