Innovative Industrial Properties, Inc. (IIPR)
| Market Cap | 1.49B |
| Revenue (ttm) | 304.79M |
| Net Income (ttm) | 148.61M |
| Shares Out | 28.01M |
| EPS (ttm) | 5.20 |
| PE Ratio | 10.24 |
| Forward PE | 13.96 |
| Dividend | $7.60 (14.28%) |
| Ex-Dividend Date | Jun 30, 2025 |
| Volume | 207,610 |
| Open | 53.46 |
| Previous Close | 53.17 |
| Day's Range | 53.11 - 54.00 |
| 52-Week Range | 45.44 - 138.35 |
| Beta | 1.72 |
| Analysts | Hold |
| Price Target | 88.75 (+66.7%) |
| Earnings Date | Aug 4, 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 66.70% from the latest price.
News
Top REIT and Lending Cannabis Stocks to Watch in July 2025
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...
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Cannabis REITs Set to Benefit From Industry Growth in 2025
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Innovative Industrial: A Dividend Cut Is Coming, Buy The 13% Yield Anyways
IIPR faces ongoing tenant struggles and a likely dividend cut, but the market is overly pessimistic given its strong balance sheet and attractive valuation. The net lease structure allows for high mar...
Innovative Industrial Properties Declares Second Quarter 2025 Dividends
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR), the first and only real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis indu...
U.S. REIT Share Repurchase Activity Doubles In Q1 2025
Share buyback activity by US equity real estate investment trusts more than doubled in the first quarter, according to an analysis by S&P Global Market Intelligence. The US REIT sector bought back aro...
Innovative Industrial Properties: Where Capitulation Ends, Conviction Begins
IIPR holds more than $220 million in total liquidity, with a conservative 11% debt-to-assets ratio and sub-1x net debt-to-EBITDA. Tenant defaults led to a 13% QoQ AFFO drop to $55.3 million and a 6.5%...
2025's Best Cannabis REITs for Building Wealth Over Time
The U.S. cannabis industry continues to expand rapidly, creating strong momentum for related investments. In 2025, the market is expected to surpass $44 billion in value. Over the next five years, pro...
Innovative Industrial Properties: 13% Dividend Yield And Near-Fortress Balance Sheet
IIPR's dividend yield has soared to 13.33%, reflecting market fears of a cut amid tenant defaults and declining dividend coverage. Despite a 60% share price drop and sector headwinds, I am adding to m...
3 Marijuana Stocks For Cannabis Real Estate Investors
Is it safe to invest in marijuana stocks with the entire sector trading at all-time lows? If the legal market is profitable and companies are performing well, why are the top marijuana stocks not trad...
Innovative Industrial Properties: Speculative Buy With Short-Term Risk And Long-Term Reward
Innovative Industrial Properties faces significant challenges, including tenant defaults and unfavorable cannabis legalization votes, impacting its valuation and short-term growth potential. Despite t...
Innovative Industrial Properties, Inc. (IIPR) Q1 2025 Earnings Call Transcript
Innovative Industrial Properties, Inc. (NYSE:IIPR) Q1 2025 Earnings Conference Call May 8, 2025 12:00 PM ET Company Participants Eli Kanter - Associate Finance Alan Gold - Executive Chairman Paul Smi...
Innovative Industrial Properties Reports First 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...
8-12% Dividend Yields From Undervalued REITs
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Innovative Industrial Properties' 14% Yield Comes With Great Cash Flow Risks (Rating Downgrade)
Innovative Industrial Properties has lost a great deal of its value from 52-week heights, attributed to the numerous tenant default issues and the illicit headwinds observed in the cannabis market. Th...
Top Cannabis REITs to Watch for High Dividends and Long-Term Growth in 2025
The U.S. cannabis industry continues expanding rapidly, with projections suggesting it could reach $45 billion by 2025. More states are legalizing cannabis for medical and recreational use, boosting d...