TrueWealth Advisors LLC Increases Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

TrueWealth Advisors LLC increased its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 15.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,657 shares of the company’s stock after purchasing an additional 3,672 shares during the period. TrueWealth Advisors LLC’s holdings in Innovative Industrial Properties were worth $1,843,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IIPR. Wellington Management Group LLP increased its position in shares of Innovative Industrial Properties by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 568,280 shares of the company’s stock valued at $76,490,000 after purchasing an additional 185,855 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Innovative Industrial Properties by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 457,374 shares of the company’s stock valued at $61,563,000 after acquiring an additional 10,711 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Innovative Industrial Properties by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 328,344 shares of the company’s stock worth $35,862,000 after purchasing an additional 45,779 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Innovative Industrial Properties by 17.5% during the third quarter. JPMorgan Chase & Co. now owns 237,206 shares of the company’s stock valued at $31,928,000 after buying an additional 35,269 shares during the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in shares of Innovative Industrial Properties in the fourth quarter worth approximately $4,794,000. 70.58% of the stock is owned by hedge funds and other institutional investors.

Innovative Industrial Properties Stock Performance

Shares of IIPR opened at $68.21 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.53 and a current ratio of 11.53. The stock has a 50-day moving average of $89.65 and a two-hundred day moving average of $112.20. The stock has a market cap of $1.93 billion, a P/E ratio of 12.14 and a beta of 1.39. Innovative Industrial Properties, Inc. has a one year low of $62.45 and a one year high of $138.35.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.76). The business had revenue of $76.53 million during the quarter, compared to analyst estimates of $77.30 million. Innovative Industrial Properties had a return on equity of 8.44% and a net margin of 52.51%. Innovative Industrial Properties’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 EPS. As a group, research analysts predict that Innovative Industrial Properties, Inc. will post 8.36 EPS for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $1.90 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 11.14%. Innovative Industrial Properties’s payout ratio is 135.23%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IIPR. Roth Capital raised shares of Innovative Industrial Properties to a “strong-buy” rating in a research note on Monday, November 11th. Alliance Global Partners lowered Innovative Industrial Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 23rd. BTIG Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research note on Monday, December 23rd. Wolfe Research upgraded Innovative Industrial Properties to a “hold” rating in a report on Monday, September 23rd. Finally, Compass Point downgraded Innovative Industrial Properties from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $78.00 in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.50.

Innovative Industrial Properties Company Profile

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.