Innovative Industrial Properties, Inc. (IIPR)

IIPR Stock Forecast

Stock Price Forecast

The 2 analysts that cover IIPR stock have a consensus rating of "Sell" and an average price target of $47.5, which forecasts a -10.31% decrease in the stock price over the next year. The lowest target is $45 and the highest is $50.

Price Target: $47.5 (-10.31%)

Analyst Consensus: Sell

Target	Low	Average	Median	High
Price	$45	$47.5	$50	$50
Change	-15.03%	-10.31%	-5.59%	-5.59%

Analyst Ratings

The average analyst rating for IIPR stock is "Sell". This means that analysts believe this stock is likely to lead to lower returns than market as a whole.

Recommendation Trends

Rating	Sep '25	Oct '25	Nov '25	Dec '25	Jan '26	Feb '26
Strong Buy	2	2	2	2	2	0
Buy	0	0	0	0	0	0
Hold	4	4	4	4	4	2
Sell	1	1	1	1	1	1
Strong Sell	1	1	1	1	1	1
Total	8	8	8	8	8	4

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Alexander Goldfarb Piper Sandler	Piper Sandler	Sell Maintains $44 → $45	Sell	Maintains	$44 → $45	-15.03%	Feb 25, 2026
Alexander Goldfarb Piper Sandler	Piper Sandler	Sell Maintains $43 → $44	Sell	Maintains	$43 → $44	-16.92%	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	-15.03%	Apr 15, 2025
Merrill Ross Compass Point	Compass Point	Hold → Strong Sell Downgrades $60 → $50	Hold → Strong Sell	Downgrades	$60 → $50	-5.59%	Mar 31, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

275.06M

Increased by 3.42%

from 265.96M

Revenue Next Year

270.71M

Decreased by -1.58%

from 275.06M

EPS This Year

4.19

Increased by 6.54%

from 3.93

EPS Next Year

n/a

from 4.19

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026	FY 2027
Period Ending	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026	Dec 31, 2027
Revenue	204.55M	276.36M	309.51M	308.52M	265.96M	275.06M	270.71M
Revenue Growth	74.99%	35.11%	11.99%	-0.32%	-13.80%	3.42%	-1.58%
EPS	4.55	5.52	5.77	5.52	3.93	4.19	-
EPS Growth	39.27%	21.24%	4.45%	-4.21%	-28.87%	6.54%	-
Forward PE	-	-	-	-	-	12.65	-
No. Analysts	-	-	-	-	-	4	3

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

Revenue Forecast

Revenue	2026	2027
High	300.5M	278.7M
Avg	275.1M	270.7M
Low	258.8M	260.1M

Revenue Growth

Revenue Growth	2026	2027
High	13.0%	1.3%
Avg	3.4%	-1.6%
Low	-2.7%	-5.4%

EPS Forecast

EPS	2026
High	4.47
Avg	4.19
Low	3.87

EPS Growth

EPS Growth	2026
High	13.8%
Avg	6.5%
Low	-1.5%

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.