QRG Capital Management Inc. Acquires 1,529 Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR)

On March 6th, 2025, it was reported that QRG Capital Management Inc. increased its ownership in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 34.7% during the fourth quarter of the previous year. After acquiring an additional 1,529 shares, the firm now holds a total of 5,939 shares of the company, valued at approximately $396,000 according to their latest SEC filing.

Alongside QRG Capital Management, several other prominent investors have adjusted their stakes in Innovative Industrial Properties. For instance, Pacer Advisors Inc. made a significant investment during the fourth quarter, acquiring a new stake worth about $42 million. Similarly, Wellington Management Group LLP increased its holdings by 48.6% in the third quarter, now possessing 568,280 shares valued at $76.49 million after adding 185,855 shares recently. Furthermore, Charles Schwab Investment Management Inc. expanded its stake by 2.4%, owning 457,374 shares valued at $61.56 million after purchasing 10,711 additional shares. Also noteworthy is Bank of New York Mellon Corp, which enhanced its position by 25.8% in the fourth quarter, now holding 378,644 shares valued at $25.23 million following the acquisition of 77,552 shares. Meanwhile, JPMorgan Chase & Co. raised its share count by 17.5%, now owning 237,206 shares worth $31.93 million after acquiring an additional 35,269 shares in the last quarter. In aggregate, institutional investors and hedge funds own approximately 70.58% of the company’s stock.

Analysts' Outlook on IIPR

Several analysts have recently reviewed Innovative Industrial Properties. Notably, Compass Point lowered its rating from “buy” to “neutral,” reducing their target price from $125.00 to $78.00 on December 20th. On December 23rd, Alliance Global Partners similarly downgraded the company from a “strong-buy” to a “hold.” Conversely, Roth Mkm maintained a “buy” rating while lowering their target price from $140.00 to $130.00 on February 21st. Other firms like Roth Capital and JMP Securities have given mixed ratings, with one analyst issuing a sell rating, five holding, one buying, and one giving a strong buy. The consensus rating for Innovative Industrial Properties currently stands at “Hold,” with an average target price set at $102.00.

Insights on Insider Trading

Insider Transactions

In recent insider transactions, Director David Stecher sold 7,599 shares of Innovative Industrial Properties on March 3rd at an average price of $70.55, totaling $536,109.45. Following this sale, he retains 1,346 shares currently worth approximately $94,960. The sale highlights a significant reduction of 84.95% in his holdings. Such transactions have been disclosed with the Securities & Exchange Commission, accessible through their official site. Corporate insiders hold around 1.50% of the company’s stock.

Current Stock Performance

The stock of Innovative Industrial Properties started trading on a recent Thursday at $72.51. The stock has seen a twelve-month low of $62.45 and a high of $138.35, with a prevailing market cap of $2.05 billion. Currently, the company's price-to-earnings (P/E) ratio is approximately 13.11, and its beta stands at 1.49. Its recent 50-day and 200-day moving averages are reported at $70.06 and $102.07 respectively. Financial ratios include a quick ratio of 11.53 and a current ratio of 14.32, indicating a solid liquidity position with a debt-to-equity ratio of 0.16.

Earlier this year, on February 19th, Innovative Industrial Properties released its quarterly earnings, reporting earnings per share of $2.22, meeting analyst expectations. The company achieved a return on equity of 8.39% and a net margin of 52.40%, with revenue totaling $76.74 million, surpassing analysts' forecasts of $76.21 million. Forecasts project the company to post an EPS of 8.28 for the current fiscal year.

Dividend Information

Recently, Innovative Industrial Properties declared a quarterly dividend amounting to $1.90 per share, which was paid on January 15th to investors recorded on December 31st. The annualized dividend totals $7.60, representing a yield of 10.48%. Note that the stock's dividend payout ratio currently stands at 137.43%, indicating a generous distribution to shareholders.

Company Overview

Innovative Industrial Properties, Inc., operating as a self-advised Maryland corporation, focuses on acquiring, owning, and managing specialized properties leased to licensed operators for their cannabis facilities. The company has opted for taxation as a real estate investment trust (REIT) starting from 2017.

Acquisition, Investments, Analyst, Stock, Dividends