Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Acquired by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC boosted its holdings in Innovative Industrial Properties, Inc. (NYSE:IIPR) by 30.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,689 shares of the company’s stock after acquiring an additional 5,926 shares during the period. Prevail Innovative Wealth Advisors LLC owned 0.09% of Innovative Industrial Properties worth $2,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at approximately $31,116,000. Tidal Investments LLC lifted its stake in Innovative Industrial Properties by 1,465.1% in the 1st quarter. Tidal Investments LLC now owns 236,929 shares of the company’s stock valued at $24,532,000 after buying an additional 221,791 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Innovative Industrial Properties by 57.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 202,637 shares of the company’s stock valued at $20,430,000 after buying an additional 74,289 shares during the last quarter. LSV Asset Management increased its position in Innovative Industrial Properties by 124.4% during the first quarter. LSV Asset Management now owns 101,373 shares of the company’s stock worth $10,496,000 after buying an additional 56,200 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of Innovative Industrial Properties by 279.1% in the second quarter. Jupiter Asset Management Ltd. now owns 47,343 shares of the company’s stock worth $5,171,000 after acquiring an additional 34,854 shares during the last quarter. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Innovative Industrial Properties Trading Up 1.1 %

Shares of IIPR opened at $126.91 on Friday. Innovative Industrial Properties, Inc. has a fifty-two week low of $69.08 and a fifty-two week high of $127.36. The company has a market capitalization of $3.60 billion, a PE ratio of 22.26 and a beta of 1.35. The stock has a fifty day moving average of $119.10 and a two-hundred day moving average of $108.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 18.06 and a current ratio of 18.06.

Innovative Industrial Properties (NYSE:IIPR) last released its earnings results on Monday, August 5th. The company reported $1.44 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.64). Innovative Industrial Properties had a net margin of 52.73% and a return on equity of 8.50%. The business had revenue of $79.79 million during the quarter, compared to analyst estimates of $77.18 million. During the same quarter in the previous year, the company posted $2.26 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Innovative Industrial Properties, Inc. will post 8.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IIPR shares. Roth Mkm increased their price objective on Innovative Industrial Properties from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Piper Sandler raised their price target on shares of Innovative Industrial Properties from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th.

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.