Innovative Industrial Properties, Inc. (IIPR)

NYSE: IIPR · Real-Time Price · USD
55.76
-0.73 (-1.29%)
At close: May 12, 2026, 4:00 PM EDT
55.76
0.00 (0.00%)
After-hours: May 12, 2026, 7:00 PM EDT
Market Cap1.60B +5.7%
Revenue (ttm)263.23M -13.6%
Net Income111.07M -21.7%
EPS3.93 -24.3%
Shares Out 28.77M
PE Ratio14.19
Forward PE12.65
Dividend$7.60 (13.63%)
Ex-Dividend DateMar 31, 2026
Volume211,578
Open56.49
Previous Close56.49
Day's Range55.39 - 56.80
52-Week Range44.58 - 61.40
Beta1.45
AnalystsHold
Price Target45.00 (-19.3%)
Earnings DateMay 4, 2026

About IIPR

Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties and life science real estate. Innovative Industrial Properties, Inc. was incorporated on June 15th 2016 in Maryland, USA.

IPO Date Dec 1, 2016
Employees 23
Stock Exchange NYSE
Ticker Symbol IIPR
Full Company Profile

Financial Performance

In 2025, IIPR's revenue was $265.96 million, a decrease of -13.80% compared to the previous year's $308.52 million. Earnings were $111.45 million, a decrease of -29.29%.

Financial Statements

Analyst Summary

According to 3 analysts, the average rating for IIPR stock is "Hold." The 12-month stock price target is $45.0, which is a decrease of -19.30% from the latest price.

Price Target
$45.0
(-19.30% downside)
Analyst Consensus: Hold
Stock Forecasts

News

Innovative Industrial Properties Announces Closing of $56.5 Million Secured Term Loan

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it has closed on a $56.5 million secured term loan (the “Loan”). The Loan has an initial term of t...

6 days ago - Business Wire

Innovative Industrial Properties Earnings Call Transcript: Q1 2026

Q1 2026 saw revenue rise 3.5% to $69M and AFFO steady at $53.4M, with strong leasing activity and major regulatory progress for medical cannabis. Liquidity and credit metrics remain robust, and management expects further growth as refinancing and strategic investments proceed.

7 days ago - Transcripts

Top 3 Cannabis REIT Stocks to Watch in May 2026 for High Dividend Income

The cannabis sector continues to shift in 2026. Regulatory changes remain a major catalyst. In particular, federal reform discussions are once again gaining attention. If progress happens, operators c...

Other symbols: REFI
7 days ago - MarijuanaStocks

Innovative Industrial Properties reports Q1 AFFO $1.88, consensus $1.87

Reports Q1 revenue $69M, consensus $66.24M. “We are encouraged by the pace of leasing activity year-to-date, including nearly 400,000 square feet of executed leases, which underscores the ongoing dema...

8 days ago - TheFly

Innovative Industrial Properties Reports First Quarter 2026 Results

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company") announced today results for the first quarter ended March 31, 2026. Executive Chairman Remarks ...

8 days ago - Business Wire

Options Volatility and Implied Earnings Moves Today, May 04, 2026

Today, several major companies are expected to report earnings: ON Semiconductor (ON), Transocean (RIG), Vertex Pharmaceuticals (VRTX), Diamondback (FANG), Norwegian Cruise Line (NCLH), Innovative Ind...

8 days ago - TipRanks

Innovative Industrial Properties Announces First Quarter 2026 Earnings Release Date and Conference Call

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its first quarter 2026 results after the close of trading on the New York Stock Exc...

22 days ago - Business Wire

3 Cannabis REITs Positioned for Growth in 2026

The cannabis sector continues evolving in 2026, and REITs are gaining attention again. These companies offer exposure without directly selling cannabis. Instead, they generate income through leasing a...

Other symbols: REFI
4 weeks ago - MarijuanaStocks

Best Cannabis REITs and Lenders to Watch This April 2026

The U.S. cannabis industry continues to expand despite regulatory uncertainty. However, ancillary companies remain critical to its long-term growth. These businesses provide real estate and financing ...

Other symbols: REFI
5 weeks ago - MarijuanaStocks

REITs Have Been Rocked, These 4 Now Pay Up To 14.6%

Oil is up, and everything else is down. Stocks. Bonds.

Other symbols: MFAMRPSBRA
6 weeks ago - Forbes

Top 3 Cannabis REITs to Watch in March 2026 for High Dividend Income

The cannabis sector continues evolving as new catalysts reshape long-term growth expectations. Federal rescheduling discussions remain a major driver for the industry. In fact, potential policy change...

Other symbols: REFI
7 weeks ago - MarijuanaStocks

Innovative Industrial announces PharmaCann resolution, portfolio update

Innovative Industrial Properties (IIPR) announced the following portfolio updates, including the execution of 122,000 square feet of new leases in March 2026, as the Company continues to execute on it...

2 months ago - TheFly

Innovative Industrial Properties Announces PharmaCann Resolution and Provides Portfolio Update

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”) announced today the following portfolio updates, including the execution of 122,000 square feet...

2 months ago - Business Wire

Innovative Industrial Properties Declares First Quarter 2026 Dividends

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”) announced today that its board of directors has declared a first quarter 2026 dividend of $1.90...

2 months ago - Business Wire

Innovative Industrial Properties upgraded to Neutral from Sell at Compass Point

Compass Point analyst Merrill Ross upgraded Innovative Industrial Properties (IIPR) to Neutral from Sell with an unchanged price target of $45.

2 months ago - TheFly

High-Yield Cannabis REITs to Watch in March 2026

The cannabis sector continues to evolve in early 2026. However, volatility remains a defining feature. Multi-state operators still face pricing pressure. At the same time, capital remains tight across...

Other symbols: REFI
2 months ago - MarijuanaStocks

Innovative Industrial price target raised to $55 from $50 at Alliance Global

Alliance Global analyst Aaron Grey raised the firm’s price target on Innovative Industrial Properties (IIPR) to $55 from $50 and keeps a Neutral rating on the shares. The firm cites…

2 months ago - TheFly

Innovative Industrial Properties price target raised to $45 from $44 at Piper Sandler

Piper Sandler raised the firm’s price target on Innovative Industrial Properties (IIPR) to $45 from $44 and keeps an Underweight rating on the shares. Tuesday’s earnings call laid out the…

2 months ago - TheFly

Innovative Industrial Properties Earnings Call Transcript: Q4 2025

2025 saw strong operational execution, robust liquidity, and strategic investments, with significant progress re-tenanting non-performing assets and expanding in both cannabis and life science sectors. AFFO and revenues improved, and regulatory developments are expected to further support growth.

2 months ago - Transcripts

Innovative Industrial Properties reports Q4 FFO $1.88, consensus $1.81

Reports Q4 revenue $66.7M, consensus $65.9M. “During 2025, we made significant progress executing on our strategy to diversify the Company’s portfolio, strengthen our balance sheet, and actively resol...

2 months ago - TheFly

Innovative Industrial Properties Reports Fourth Quarter and Full Year 2025 Results

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company") announced today results for the fourth quarter and full year ended December 31, 2025. Executive...

2 months ago - Business Wire

Cannabis REITs and Lenders to Watch as the Industry Stabilizes

The U.S. cannabis industry continues to evolve in 2026. Although operators face margin pressure, the long-term outlook remains compelling. Industry sales are projected to exceed $40 billion in the com...

Other symbols: REFI
2 months ago - MarijuanaStocks

Innovative Industrial Properties Announces Fourth Quarter 2025 Earnings Release Date and Conference Call

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its fourth quarter 2025 results after the close of trading on the New York Stock Ex...

3 months ago - Business Wire

3 Cannabis REIT Stocks Offering Income Potential in Q1 2026

The cannabis industry continues to evolve as legalization expands and regulations slowly improve. While many investors focus on plant-touching companies, others prefer lower-risk exposure. This is whe...

Other symbols: REFI
3 months ago - MarijuanaStocks

Innovative Industrial Properties Announces Tax Treatment of 2025 Distributions

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2025 distributions as follows: Security Description: Common Stock CUSIP: ...

3 months ago - Business Wire