MSFT and 4 Other Companies Just Increased Their Dividends

In this article, we discuss the companies that have just increased their dividends. If you want to read our detailed analysis of dividend investing, go directly to read MSFT and 9 Other Companies Just Increased Their Dividends. 

5. Innovative Industrial Properties, Inc. (NYSE:IIPR)

Number of Hedge Fund Holders: 16

Innovative Industrial Properties, Inc. (NYSE:IIPR) is a California-based real estate investment trust company that provides capital for the medical-use cannabis industry. In September, Compass Point upgraded the stock to Buy while lifting its price target to $175. The firm appreciated the company’s agreement with tenants in California which will enhance its portfolio. The firm also highlighted the company’s recent dividend growth.

Innovative Industrial Properties, Inc. (NYSE:IIPR) reported strong results in Q2 2022. The company generated over $62 million in free cash flow, up from $59 million in the previous quarter. Its revenue jumped by 44.3% year-over-year to $70.5 million. At the end of June, the company had $45.4 million available in cash and cash equivalents, and its total assets amounted to over $2.4 billion.

On September 15, Innovative Industrial Properties, Inc. (NYSE:IIPR) announced a quarterly dividend of $1.80 per share, raising it by 2.9%. This was the company’s second dividend hike this year and it also maintains a 4-year track of consistent dividend growth. The stock’s dividend yield stood at 7.34%, as of September 21.

The number of hedge funds tracked by Insider Monkey owning stakes in Innovative Industrial Properties, Inc. (NYSE:IIPR) stood at 16 in Q2 2022, up from 15 in the previous quarter. The total value of these stakes is over $291.6 million. With over 1.5 million shares, Zimmer Partners was the company’s leading stakeholder in Q2.