TrueWealth Advisors LLC Has $1.84 Million Holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR)

TrueWealth Advisors LLC grew its position in shares of Innovative Industrial Properties, Inc. (NYSE:IIPR - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,657 shares of the company's stock after buying an additional 3,672 shares during the quarter. TrueWealth Advisors LLC owned approximately 0.10% of Innovative Industrial Properties worth $1,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in Innovative Industrial Properties during the third quarter worth $25,000. Canton Hathaway LLC acquired a new position in shares of Innovative Industrial Properties during the 3rd quarter valued at about $55,000. Loomis Sayles & Co. L P raised its stake in shares of Innovative Industrial Properties by 3,130.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 420 shares of the company's stock valued at $57,000 after acquiring an additional 407 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Innovative Industrial Properties by 138.1% in the 2nd quarter. Federated Hermes Inc. now owns 538 shares of the company's stock worth $59,000 after purchasing an additional 312 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Innovative Industrial Properties by 75.3% in the 3rd quarter. US Bancorp DE now owns 440 shares of the company's stock worth $59,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company's stock.

Innovative Industrial Properties Stock Performance

NYSE IIPR traded up $1.27 during midday trading on Friday, hitting $68.21. The company had a trading volume of 240,909 shares, compared to its average volume of 493,872. The firm has a fifty day simple moving average of $89.65 and a two-hundred day simple moving average of $112.25. Innovative Industrial Properties, Inc. has a fifty-two week low of $62.45 and a fifty-two week high of $138.35. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 12.14 and a beta of 1.39.

Innovative Industrial Properties (NYSE:IIPR - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $2.13 by ($0.76). The firm had revenue of $76.53 million for 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%. The firm's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $2.29 earnings per share. Equities analysts forecast that Innovative Industrial Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

Innovative Industrial Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.90 dividend. The ex-dividend date 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%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IIPR shares. BTIG Research lowered shares of Innovative Industrial Properties from a "buy" rating to a "neutral" rating in a research report on Monday, December 23rd. Roth Capital upgraded shares of Innovative Industrial Properties to a "strong-buy" rating in a report on Monday, November 11th. JMP Securities reissued a "market perform" rating on shares of Innovative Industrial Properties in a research report on Monday, December 16th. Compass Point downgraded Innovative Industrial Properties from a "buy" rating to a "neutral" rating and lowered their price target for the company from $125.00 to $78.00 in a research report on Friday, December 20th. Finally, Wolfe Research raised Innovative Industrial Properties to a "hold" rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $104.50.

Innovative Industrial Properties 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.