TrueWealth Advisors LLC Acquires 11,271 Shares of Innovative Industrial Properties, Inc. $IIPR

TrueWealth Advisors LLC increased its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,660 shares of the company’s stock after purchasing an additional 11,271 shares during the quarter. Innovative Industrial Properties accounts for 1.1% of TrueWealth Advisors LLC’s investment portfolio, making the stock its 18th biggest position. TrueWealth Advisors LLC’s holdings in Innovative Industrial Properties were worth $3,893,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Flaharty Asset Management LLC bought a new position in shares of Innovative Industrial Properties during the first quarter valued at about $27,000. West Oak Capital LLC bought a new stake in shares of Innovative Industrial Properties in the 3rd quarter valued at about $27,000. AdvisorNet Financial Inc boosted its holdings in Innovative Industrial Properties by 50.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 559 shares of the company’s stock valued at $31,000 after acquiring an additional 187 shares during the period. Headlands Technologies LLC boosted its holdings in Innovative Industrial Properties by 109.4% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the company’s stock valued at $42,000 after acquiring an additional 396 shares during the period. Finally, Legend Financial Advisors Inc. bought a new position in Innovative Industrial Properties during the 2nd quarter worth approximately $44,000. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Innovative Industrial Properties Trading Up 2.8%

NYSE IIPR opened at $50.95 on Friday. The stock has a market cap of $1.43 billion, a P/E ratio of 12.07 and a beta of 1.50. Innovative Industrial Properties, Inc. has a fifty-two week low of $44.58 and a fifty-two week high of $75.71. The stock has a 50 day simple moving average of $51.30 and a two-hundred day simple moving average of $53.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.75 and a current ratio of 2.75.

Innovative Industrial Properties (NYSE:IIPR) last announced its earnings results on Monday, November 3rd. The company reported $1.71 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.02). Innovative Industrial Properties had a net margin of 45.80% and a return on equity of 6.77%. The business had revenue of $64.69 million for the quarter, compared to the consensus estimate of $63.72 million. During the same quarter in the prior year, the company earned $2.25 EPS. Innovative Industrial Properties’s revenue was down 15.4% compared to the same quarter last year. On average, analysts forecast that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 14.9%. The ex-dividend date of this dividend is Wednesday, December 31st. Innovative Industrial Properties’s dividend payout ratio (DPR) is currently 180.09%.

Analyst Upgrades and Downgrades

IIPR has been the subject of several recent research reports. Piper Sandler boosted their price objective on Innovative Industrial Properties from $43.00 to $44.00 and gave the company an “underweight” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Innovative Industrial Properties in a research note on Monday. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $68.20.

Insider Transactions at Innovative Industrial Properties

In other news, Chairman Alan D. Gold acquired 2,600 shares of the business’s stock in a transaction on Monday, November 24th. The shares were acquired at an average cost of $49.09 per share, with a total value of $127,634.00. Following the transaction, the chairman owned 2,600 shares in the company, valued at $127,634. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Jon Smith bought 600 shares of Innovative Industrial Properties stock in a transaction on Thursday, November 20th. The shares were purchased at an average price of $45.90 per share, for a total transaction of $27,540.00. Following the acquisition, the chief financial officer directly owned 600 shares in the company, valued at approximately $27,540. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 4,200 shares of company stock worth $201,434 in the last ninety days. Insiders own 2.00% of the company’s stock.

Innovative Industrial Properties Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.