Stratos Wealth Advisors LLC Invests $318,000 in Innovative Industrial Properties Inc (IIPR)

Stratos Wealth Advisors LLC acquired a new stake in Innovative Industrial Properties Inc (NYSE:IIPR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,897 shares of the company’s stock, valued at approximately $318,000.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of Innovative Industrial Properties by 35.7% in the 3rd quarter. Wells Fargo & Company MN now owns 9,443 shares of the company’s stock worth $456,000 after buying an additional 2,485 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Innovative Industrial Properties by 5.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 22,508 shares of the company’s stock worth $1,086,000 after buying an additional 1,146 shares during the last quarter. BlackRock Inc. grew its position in shares of Innovative Industrial Properties by 1.4% in the 3rd quarter. BlackRock Inc. now owns 419,857 shares of the company’s stock worth $20,254,000 after buying an additional 5,906 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Innovative Industrial Properties in the 3rd quarter worth approximately $243,000. Finally, AQR Capital Management LLC grew its position in shares of Innovative Industrial Properties by 7.2% in the 3rd quarter. AQR Capital Management LLC now owns 27,081 shares of the company’s stock worth $1,306,000 after buying an additional 1,827 shares during the last quarter. Institutional investors and hedge funds own 54.54% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Innovative Industrial Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. LADENBURG THALM/SH SH downgraded shares of Innovative Industrial Properties from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 20th. Finally, BTIG Research lifted their price objective on shares of Innovative Industrial Properties to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $66.75.

Shares of Innovative Industrial Properties stock traded up $0.69 on Friday, reaching $89.70. The stock had a trading volume of 188,246 shares, compared to its average volume of 306,581. The company has a quick ratio of 209.93, a current ratio of 209.93 and a debt-to-equity ratio of 0.52. Innovative Industrial Properties Inc has a 1 year low of $31.61 and a 1 year high of $93.24. The company has a market cap of $893.50 million, a P/E ratio of 66.94 and a beta of 1.65.

Innovative Industrial Properties (NYSE:IIPR) last issued its quarterly earnings data on Wednesday, March 13th. The company reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $4.78 million for the quarter. Innovative Industrial Properties had a net margin of 51.37% and a return on equity of 4.97%. As a group, equities research analysts forecast that Innovative Industrial Properties Inc will post 2.57 EPS for the current fiscal year.

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About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use 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.

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Institutional Ownership by Quarter for Innovative Industrial Properties (NYSE:IIPR)

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