Innovative Industrial Properties, Inc. (IIPR)

IIPR Stock Forecast

Stock Price Forecast

The 4 analysts that cover IIPR stock have a consensus rating of "Hold" and an average price target of $88.5, which forecasts a 76.51% increase in the stock price over the next year. The lowest target is $44 and the highest is $130.

Price Target: $88.5 (+76.51%)

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$44	$88.5	$130	$130
Change	-12.25%	+76.51%	+159.27%	+159.27%

* Price targets were last updated on Nov 5, 2025.

Analyst Ratings

The average analyst rating for IIPR stock is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Jul '25	Aug '25	Sep '25	Oct '25	Nov '25	Dec '25
Strong Buy	2	2	2	2	2	2
Buy	0	0	0	0	0	0
Hold	4	4	4	4	4	4
Sell	1	1	1	1	1	1
Strong Sell	1	1	1	1	1	1
Total	8	8	8	8	8	8

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Alexander Goldfarb Piper Sandler	Piper Sandler	Sell Maintains $43 → $44	Sell	Maintains	$43 → $44	-12.25%	Nov 5, 2025
Andrew Rosivach Wolfe Research	Wolfe Research	Buy → Hold Downgrades n/a	Buy → Hold	Downgrades	n/a	n/a	Jul 2, 2025
Alexander Goldfarb Piper Sandler	Piper Sandler	Sell Maintains $55 → $45	Sell	Maintains	$55 → $45	-10.25%	Apr 15, 2025
Merrill Ross Compass Point	Compass Point	Hold → Strong Sell Downgrades $60 → $50	Hold → Strong Sell	Downgrades	$60 → $50	-0.28%	Mar 31, 2025
Alexander Goldfarb Piper Sandler	Piper Sandler	Sell Maintains $60 → $55	Sell	Maintains	$60 → $55	+9.69%	Mar 31, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

270.47M

Decreased by -12.33%

from 308.52M

Revenue Next Year

275.06M

Increased by 1.70%

from 270.47M

EPS This Year

3.98

Decreased by -28.00%

from 5.52

EPS Next Year

4.19

Increased by 5.26%

from 3.98

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	116.90M	204.55M	276.36M	309.51M	308.52M	270.47M	275.06M
Revenue Growth	161.71%	74.99%	35.11%	11.99%	-0.32%	-12.33%	1.70%
EPS	3.27	4.55	5.52	5.77	5.52	3.98	4.19
EPS Growth	61.08%	39.27%	21.24%	4.45%	-4.21%	-28.00%	5.26%
Forward PE	-	-	-	-	-	12.60	11.97
No. Analysts	-	-	-	-	-	4	4

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2025	2026	2027
High	281.0M	300.5M
Avg	270.5M	275.1M
Low	258.7M	258.8M

Revenue Growth

Revenue Growth	2025	2026	2027
High	-8.9%	11.1%
Avg	-12.3%	1.7%
Low	-16.1%	-4.3%

EPS Forecast

EPS	2025	2026
High	4.15	4.47
Avg	3.98	4.19
Low	3.77	3.87

EPS Growth

EPS Growth	2025	2026
High	-24.9%	12.4%
Avg	-28.0%	5.3%
Low	-31.7%	-2.7%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.