Innovative Industrial Properties, Inc. (IIPR)
| Market Cap | 1.61B |
| Revenue (ttm) | 287.88M |
| Net Income (ttm) | 131.91M |
| Shares Out | 28.02M |
| EPS (ttm) | 4.63 |
| PE Ratio | 12.37 |
| Forward PE | 15.32 |
| Dividend | $7.60 (13.26%) |
| Ex-Dividend Date | Jun 30, 2025 |
| Volume | 226,852 |
| Open | 57.27 |
| Previous Close | 56.97 |
| Day's Range | 56.99 - 57.88 |
| 52-Week Range | 45.44 - 138.35 |
| Beta | 1.64 |
| Analysts | Hold |
| Price Target | 88.75 (+54.89%) |
| Earnings Date | Nov 5, 2025 |
About IIPR
Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. [Read more]
Financial Performance
In 2024, IIPR's revenue was $308.52 million, a decrease of -0.32% compared to the previous year's $309.51 million. Earnings were $157.60 million, a decrease of -3.16%.
Financial StatementsAnalyst Summary
According to 8 analysts, the average rating for IIPR stock is "Hold." The 12-month stock price target is $88.75, which is an increase of 54.89% from the latest price.
News
Innovative Industrial Properties Declares Third Quarter 2025 Dividends
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”), the first and only real estate company on the New York Stock Exchange focused on the regulated...
Innovative Industrial: Buy The 13% Yield And Its 9% Preferred Stock Ahead Of Potential Cannabis Rescheduling
IIPR faces near-term volatility due to tenant defaults, but its exceptionally low leverage provides critical downside protection and flexibility. A potential rescheduling of cannabis is a major cataly...
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Innovative Industrial Properties: What If The Real Estate Value Plummets?
IIPR's preferred shares and 2026 bonds offer 8-9% yields with lower risk than common shares, thanks to their seniority in the capital stack. The company's robust $2.15B real estate portfolio and $100M...
Innovative Industrial Properties: Life Science Pivot, Rescheduling Progress, And Tenant Changes
Innovative Industrial Properties is currently not covering its 14.3% dividend yield to its common shareholders. The PharmaCann rent default is still being resolved as the industry faces a possible ste...
Cannabis REIT IIPR Trades At A Very Low Valuation
IIPR's stock has plunged, but I see this as a fantastic opportunity to buy a high-yielding REIT with a strong balance sheet and management. Despite cannabis industry headwinds and tenant defaults, IIP...
Innovative Industrial Properties, Inc. (IIPR) Q2 2025 Earnings Call Transcript
Innovative Industrial Properties, Inc. (NYSE:IIPR) Q2 2025 Earnings Conference Call August 7, 2025 12:00 PM ET Company Participants Alan D. Gold - Executive Chairman Ben Regin - Chief Investment Offi...
Innovative Industrial Properties Announces Strategic and Diversifying $270 Million Investment in Life Science Real Estate Platform
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”), announced today that it entered into agreements to make an investment totaling up to $270 mill...
Innovative Industrial Properties Reports Second Quarter 2025 Results
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company"), the first and only real estate company on the New York Stock Exchange focused on the regulated...
Innovative Industrial Properties Announces Second Quarter 2025
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its second quarter 2025 results after the close of trading on the New York Stock Ex...
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The U.S. cannabis industry continues its rapid expansion. In 2025, the legal market is projected to reach nearly $45 billion. Its total economic impact may exceed $120 billion by year-end. Recreationa...
Innovative Industrial Properties Is A Cautious Buy
IIPR remains risky but attractive for cannabis investors after a major price drop, offering deep value compared to peers despite ongoing tenant and industry challenges. Recent financials show declinin...
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Innovative Industrial's Preferred Got Interesting
IIPR has significant tenant troubles ahead. The common remains troubled, but the preferred is better positioned. With so much equity beneath it, the preferred looks reliable and offers high yield.
Credit Rating For The Unrated REITs (Part 9): Innovative Industrial Properties
IIPR boasts one of the strongest balance sheets in the REIT sector, with an asset coverage ratio over 800% and robust asset growth. The company's market-adjusted return on assets is an impressive 14.9...
Best Cannabis REITs for July 2025: High-Yield Picks for Income Investors
Cannabis REITs are gaining momentum this week as investors seek dividend-paying stocks with long-term growth potential. These companies lease properties to licensed cannabis operators, generating stea...
Innovative Industrial Properties: The Series A Preferreds Are In Prime Position
Innovative Industrial Properties, Inc. 9% CUM PFD SER A's yield pushed up to 9.41% after the issuance slid below its liquidation value. Recent tenant defaults highlight the REIT's counterparty risk. H...
Innovative Industrial Properties: High Risk With High Return - Contrarian Buy For The Brave
Innovative Industrial Properties remains a controversial stock here, attributed to the deep sell-off, the tenant default issues, and the challenging cannabis sector. This is especially since the headw...