DG Capital Management Just Picked Up Innovative Industrial Properties Inc. (NYSE:IIPR) Shares


Here’s a new one. Innovative just listed on the NYSE, and is already starting to attract institutional capital.

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Innovative Industrial Properties Inc. (NYSE:IIPR) reported that DG Capital Management has picked up 173,886 of common stock as of 2016-12-20.

The acquisition brings the aggregate amount owned by DG Capital Management to a total of 173,886 representing a 5.19 % stake in the company.

For those not familiar with the company, Innovative Industrial Properties, Inc. is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases. It is focused on leasing its properties on a triple-net lease basis, where the tenant is responsible for all aspects of and costs related to the property and its operation during the lease term, including maintenance, taxes and insurance. The Company intends to conduct business in an umbrella partnership real estate investment trust (UPREIT), structure through its operating partnership. The Company’s real estate investments will consist of primarily properties suitable for cultivation and production of medical-use cannabis.

A glance at Innovative Industrial Properties Inc. (NYSE:IIPR)’s key stats reveals a current market capitalization of $55.17 million based on 3.35 million shares outstanding and a price at last close of $16.73 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-12-06, Gold picked up 100 at a purchase price of $16.40. This brings their total holding to 200,700 as of the date of the filing.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Innovative Industrial Properties Inc. (NYSE:IIPR) as things move forward to see if its progress aligns with these transactions.

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