Innovative Industrial Properties, Inc. (NYSE:IIPR) Stock Holdings Increased by TrueWealth Advisors LLC

TrueWealth Advisors LLC lifted its position in Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 58.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,760 shares of the company's stock after purchasing an additional 16,103 shares during the quarter. Innovative Industrial Properties makes up 0.8% of TrueWealth Advisors LLC's investment portfolio, making the stock its 27th biggest holding. TrueWealth Advisors LLC owned about 0.15% of Innovative Industrial Properties worth $2,367,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC raised its stake in Innovative Industrial Properties by 187.5% during the 3rd quarter. Barclays PLC now owns 47,988 shares of the company's stock valued at $6,459,000 after acquiring an additional 31,295 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Innovative Industrial Properties by 30.5% during the 4th quarter. Blue Trust Inc. now owns 1,661 shares of the company's stock worth $111,000 after buying an additional 388 shares in the last quarter. KBC Group NV raised its stake in shares of Innovative Industrial Properties by 37.1% during the 4th quarter. KBC Group NV now owns 1,289 shares of the company's stock worth $86,000 after buying an additional 349 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Innovative Industrial Properties during the 4th quarter worth approximately $32,000. Finally, Bristlecone Advisors LLC raised its stake in shares of Innovative Industrial Properties by 4.6% during the 4th quarter. Bristlecone Advisors LLC now owns 13,177 shares of the company's stock worth $878,000 after buying an additional 577 shares in the last quarter. 70.58% of the stock is owned by institutional investors and hedge funds.

Innovative Industrial Properties Price Performance

NYSE IIPR traded up $0.46 during mid-day trading on Friday, hitting $55.24. The stock had a trading volume of 143,536 shares, compared to its average volume of 274,139. Innovative Industrial Properties, Inc. has a 52-week low of $45.44 and a 52-week high of $138.35. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 9.99 and a beta of 1.73. The company has a 50 day simple moving average of $53.69 and a 200 day simple moving average of $69.12. The company has a quick ratio of 11.53, a current ratio of 14.32 and a debt-to-equity ratio of 0.16.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). The company had revenue of $71.72 million for the quarter, compared to analyst estimates of $72.20 million. Innovative Industrial Properties had a net margin of 52.40% and a return on equity of 8.39%. Innovative Industrial Properties's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.21 EPS. Equities analysts forecast that Innovative Industrial Properties, Inc. will post 8.28 EPS for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 13.76%. The ex-dividend date of this dividend was Monday, March 31st. Innovative Industrial Properties's dividend payout ratio is presently 146.15%.

Analyst Upgrades and Downgrades

IIPR has been the subject of a number of analyst reports. Compass Point reissued a "sell" rating and set a $50.00 target price (down from $60.00) on shares of Innovative Industrial Properties in a research note on Monday, March 31st. Piper Sandler cut their target price on Innovative Industrial Properties from $55.00 to $45.00 and set an "underweight" rating for the company in a research note on Tuesday, April 15th. Wolfe Research initiated coverage on Innovative Industrial Properties in a research note on Wednesday, April 23rd. They set an "outperform" rating and a $57.00 target price for the company. Roth Mkm cut their target price on Innovative Industrial Properties from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Finally, Industrial Alliance Securities reissued a "neutral" rating on shares of Innovative Industrial Properties in a research note on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $78.67.

About Innovative Industrial Properties

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.