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IIPR Stock Chart & Stats
$57.04
$0.21(0.34%)
At close: 4:00 PM EDT
$57.04
$0.21(0.34%)
Day’s Range― - ―
52-Week Range$44.58 - $65.38
Previous CloseN/A
Volume203.07K
Average Volume (3M)409.22K
Market Cap
$1.42B
Enterprise Value$2.39B
Total Cash (Recent Filing)$204.73M
Total Debt (Recent Filing)$609.03M
Price to Earnings (P/E)11.6
Beta0.59
Next Earnings
Nov 02, 2026EPS Estimate
0.9Next Dividend Ex-DateN/A
Dividend Yield14.73%
Share Statistics
EPS (TTM)4.51
Shares Outstanding27,570,862
10 Day Avg. Volume391,396
30 Day Avg. Volume409,220
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)0.72
Price to Sales (P/S)4.99
P/FCF Ratio7.59
Enterprise Value/Market Cap1.68
Enterprise Value/Revenue9.06
Enterprise Value/Gross Profit15.05
Enterprise Value/Ebitda10.02
Forecast
1Y Price Target
$62.56Price Target Upside9.68% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)4.25
Revenue Forecast (FY)$252.97M
Bulls Say, Bears Say
Bulls Say
Conservative Balance SheetMinimal leverage and sizable equity provide financial flexibility for a specialized REIT exposed to tenant and regulatory uncertainty. A conservative capital structure can support continued investment, reduce refinancing pressure, and help the company absorb periods of tenant disruption without excessive balance-sheet strain.
High Profitability And Cash GenerationVery high margins and strong conversion of earnings into operating and free cash flow indicate an efficient rental model with meaningful recurring cash generation. This supports dividends, property investment, and financial resilience, although periodic cash-flow volatility means the strength is not perfectly uniform.
Life-science DiversificationThe Alewife Park investment broadens IIPR beyond cannabis real estate while adding a stated high-yield financing asset and potential future property access. Diversification could reduce reliance on one tenant industry and create additional earnings or investment opportunities over the next several quarters.
Bears Say
Tenant Credit And Concentration RiskA single tenant default affecting a mid-single-digit share of annualized income demonstrates that portfolio cash flow remains sensitive to operator credit quality. Vacated properties may require transition efforts, new leasing, or concessions before rent collection and occupancy are fully restored.
Uneven Revenue And Cash-flow TrendsRecent declines after strong 2021–2023 growth show that earnings and revenue are not consistently expanding, while prior periods of negative or weaker free cash flow indicate variability in cash generation. This can limit confidence in the durability of near-term growth and funding capacity.
Capital Structure And Dilution RiskExpanded common and preferred authorization gives IIPR financing flexibility but also creates potential dilution and higher capital costs if additional securities are issued. The new preferred class adds senior distribution obligations, which could constrain returns available to common shareholders over time.
Innovative Industrial Properties News
IIPR FAQ
What was Innovative Industrial Properties’s price range in the past 12 months?
Innovative Industrial Properties lowest stock price was $44.58 and its highest was $65.38 in the past 12 months.
What is Innovative Industrial Properties’s market cap?
Innovative Industrial Properties’s market cap is $1.42B.
When is Innovative Industrial Properties’s upcoming earnings report date?
Innovative Industrial Properties’s upcoming earnings report date is Nov 02, 2026 which is in 12 days.
How were Innovative Industrial Properties’s earnings last quarter?
Innovative Industrial Properties released its earnings results on Aug 03, 2026. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.025 by $0.335.
Is Innovative Industrial Properties overvalued?
According to Wall Street analysts Innovative Industrial Properties’s price is currently Undervalued.
Does Innovative Industrial Properties pay dividends?
Innovative Industrial Properties pays a Quarterly dividend of $1.9 which represents an annual dividend yield of 14.73%. See more information on Innovative Industrial Properties dividends here
What is Innovative Industrial Properties’s EPS estimate?
Innovative Industrial Properties’s EPS estimate is 0.9.
How many shares outstanding does Innovative Industrial Properties have?
Innovative Industrial Properties has 27,570,862 shares outstanding.
What happened to Innovative Industrial Properties’s price movement after its last earnings report?
Innovative Industrial Properties reported an EPS of $1.36 in its last earnings report, beating expectations of $1.025. Following the earnings report the stock price went up 3.022%.
Which hedge fund is a major shareholder of Innovative Industrial Properties?
Currently, no hedge funds are holding shares in IIPR
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Innovative Industrial Properties Stock Smart Score
Outperform
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Hold
Average Price Target:
$62.56 (9.68% Upside)
$62.56 (9.68% Upside)
Blogger Sentiment
Bullish
IIPR Sentiment 64%
Sector Average 62%
Sector Average 62%
Hedge Fund Trend
Increased
By 24.0 Shares
Last Quarter.
Last Quarter.
Insider Transactions
Bought Shares
Worth $995.5K over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Very Negative
Last 7 Days ▼ 0.5%
Last 30 Days ▼ 4.2%
Last 30 Days ▼ 4.2%
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
10.86%
12-Months-Change
Fundamentals
Return on Equity
7.39%
Trailing 12-Months
Asset Growth
12.00%
Trailing 12-Months
Learn more about TipRanks Smart Score
Company Description
Innovative Industrial Properties
Innovative Industrial Properties, Inc. is an independently managed, Maryland-based corporation primarily focused on acquiring, owning, and overseeing unique real estate assets. These properties are subsequently leased to experienced, state-licensed operators who utilize them for their regulated medical cannabis facilities. For tax purposes, the company adopted the structure of a Real Estate Investment Trust (REIT) starting from the end of 2017.
IIPR Company Deck
IIPR Earnings Call
Q2 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call depicts a company in stabilization and active execution mode: revenue and AFFO were stable with modest revenue growth (+3.5%), substantial leasing activity and portfolio re‑tenants underway, meaningful capital raising ($128M) and strong liquidity/credit metrics. Offsetting these positives are near-term refinancing needs, higher financing costs (term loan at 9% and prospective financings ~8%+), legacy tenant defaults requiring retenanting and conditional LOIs subject to licensing and diligence. Regulatory progress (medical rescheduling) is material and positive for operator economics, but important banking/interstate-commerce issues remain unresolved. Overall the company is making clear operational progress while managing elevated financing and transitional asset risks.View all IIPR earnings summariesIIPR Stock 12 Month Forecast
Average Price Target
$62.56
▲(9.68% Upside)
Technical Analysis
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Ownership Overview
1.21% Insiders
18.13% Mutual Funds
0.54% Other Institutional Investors
41.29% Public Companies and Individual Investors