Innovative Industrial Properties, Inc. (IIPR)
| Market Cap | 1.40B |
| Revenue (ttm) | 276.04M |
| Net Income (ttm) | 120.38M |
| Shares Out | 28.02M |
| EPS (ttm) | 4.24 |
| PE Ratio | 11.77 |
| Forward PE | 12.15 |
| Dividend | $7.60 (15.25%) |
| Ex-Dividend Date | Dec 31, 2025 |
| Volume | 321,487 |
| Open | 49.84 |
| Previous Close | 50.54 |
| Day's Range | 49.29 - 50.18 |
| 52-Week Range | 44.58 - 75.71 |
| Beta | 1.48 |
| Analysts | Hold |
| Price Target | 74.67 (+49.79%) |
| Earnings Date | Feb 18, 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. [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 5 analysts, the average rating for IIPR stock is "Hold." The 12-month stock price target is $74.67, which is an increase of 49.79% from the latest price.
News
Innovative Industrial: Why I Am Downgrading It
Innovative Industrial Properties is downgraded from Strong Buy to Hold due to sector and REIT-specific concerns, including the sell-off of the preferred stock. IIPR remains attractively valued, tradin...
Innovative Industrial Properties: Amid Diversification, Evaluating The 9.7% Preferred Stock Yield Again
Innovative Industrial Properties is diversifying into life sciences, investing $105M in IQHQ to reduce cannabis sector risk and stabilize revenues. IIPR's projected Q4 balance sheet reflects increased...
Innovative Industrial: Buying The 9.7% Yielding Preferreds
Innovative Industrial Properties (IIPR) has not cut its dividend despite significant tenant defaults and a 15% YoY revenue decline. IIPR's 2026 bonds have performed well. Tenant receiverships are ongo...
If I Could Only Buy 3 REITs For The Next Year
Now is the time to make our picks for the next year. Some REITs enjoy strong near-term catalysts for upside. I highlight 3 such REITs that could surge in 2026.
3 Marijuana Stocks That Can Make You Money In 2026
What are the thoughts and strategies for marijuana stock investors in 2026? This year will be another turning point for the cannabis industry as a whole. Particularly in the United States, 2026 is gea...
Innovative Industrial Properties: Leverage (For A REIT) Is Everything
Innovative Industrial Properties (IIPR) is Julian Lin's conviction buy due to its deeply discounted valuation and robust balance sheet, despite sector headwinds. IIPR trades at a 15% dividend yield an...
Innovative Industrial: Cannabis Rescheduling Changes Everything - 16% Yield Is A Conviction Buy
Innovative Industrial Properties is upgraded to a conviction buy as imminent cannabis rescheduling could dramatically improve tenant fundamentals and stock valuation. IIPR's 16% dividend yield appears...
Income-Focused Ancillary Cannabis Stocks to Watch Heading Into 2026
The U.S. cannabis industry continues to evolve as legalization momentum slowly expands. Sales have grown across both medical and adult-use markets. Analysts expect long-term demand to keep rising as m...
3 Cannabis REITs Investors Are Watching Closely in December 2025
Cannabis real estate investment trusts remain a unique way to gain sector exposure. Instead of selling cannabis, these companies collect rent or interest. As a result, they reduce direct operational r...
Innovative Industrial Properties: Without AFFO Growth, It May Just Become A Value Trap (Rating Downgrade)
Innovative Industrial Properties faces deteriorating financials and an unsustainable dividend, prompting a downgrade from Buy to Hold. IIPR's current dividend payout exceeds free cash flow, making a s...
Cannabis REIT Innovative Industrial Is A Great Option For Investing In The Sector
Innovative Industrial Properties remains a Strong Buy due to its deeply discounted valuation and resilient balance sheet, despite sector headwinds. IIPR trades at just 0.74x tangible book and 7.4x AFF...
Innovative Industrial Properties Declares Fourth Quarter 2025 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 fourth quarter 2025 dividend of $1.9...
Innovative Industrial Properties: Why I'm Buying One Of The Most Mispriced REITs In Today's Market
Innovative Industrial Properties (IIPR) offers a compelling REIT opportunity, trading at a steep discount to intrinsic value with robust financial strength. IIPR's Q3 saw an AFFO decline due to tenant...
Innovative Industrial Properties: Falling Knife Buy Thesis - Compelling Dividend/Upside Story
IIPR's headwinds remain elevated, attributed to its growing tenant default issues despite the sequential improvements in its FQ3'25 rental revenues. The management's choice to sustain its dividends de...
Cannabis REITs to Watch This December
Ancillary cannabis companies remain a fascinating part of the industry because they help it operate without touching the plant. These companies supply real estate, financing, or essential services. Be...
3 Top Marijuana Stocks To Watch In Today's Stock Market
The push for better cannabis reform is and seems to be an ongoing battle. Now, from the time the first state legalized cannabis, there has been tremendous growth and opportunity. This led other states...
Three Leading Ancillary Cannabis Stocks Poised for Growth in November 2025
The ancillary cannabis sector continues to draw new interest as the industry navigates a shifting landscape in late 2025. Many investors remain cautious about traditional plant-touching companies beca...
Innovative Industrial Properties: Shareholders Hold On To Hope Of No Dividend Cut
Innovative Industrial Properties has fallen by around 54% from its 1-year high as shareholders, skittish about a dividend cut, have fled the common shares. The REIT has seen its dividend yield sell to...
Cannabis REITs and Financing Firms to Consider in November 2025
The U.S. cannabis sector continues to expand as more states adopt medical or adult-use legalization. Although plant-touching companies attract most headlines, ancillary cannabis stocks have become inc...
Innovative Industrial: 14% Yield Backed By Low Leverage And Regulatory Catalyst
Innovative Industrial Properties offers a compelling 14% dividend yield, supported by a conservatively leveraged balance sheet and net lease model. IIPR faces ongoing tenant struggles and sector headw...
3 Top Marijuana Stocks For Better Investing And Larger Profits In 2026
The continuous evolution and future outlook on legal cannabis is what keeps investors in the game. After a long battle to see any true stable trading momentum, it has for some time worked the same for...
Revisiting The Credit Quality Of Innovative Industrial Properties
Innovative Industrial Properties specializes in leasing properties to regulated cannabis operators, offering a unique REIT investment profile. IIPR.PR.A preferred stock stands out with a 9% yield, out...
Innovative Industrial Properties, Inc. (IIPR) Q3 2025 Earnings Call Transcript
Innovative Industrial Properties, Inc. ( IIPR) Q3 2025 Earnings Call November 4, 2025 12:00 PM EST Company Participants Eli Kanter Alan Gold - Executive Chairman Paul Smithers - President, CEO & Dire...
Innovative Industrial Properties Reports Third Quarter 2025 Results
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company") announced today results for the third quarter ended September 30, 2025. Executive Chairman Rema...
Innovative Industrial Properties: Deeply Undervalued REIT Opportunity With Double-Digit Dividends
Innovative Industrial Properties is rated a Strong Buy thanks to its robust financials, double-digit yield, and long-term growth potential despite recent stock declines. IIPR faces near-term volatilit...