Innovative Industrial Properties, Inc. (IIPR)
| Market Cap | 1.49B |
| Revenue (ttm) | 265.96M |
| Net Income (ttm) | 111.45M |
| Shares Out | 28.14M |
| EPS (ttm) | 3.93 |
| PE Ratio | 13.48 |
| Forward PE | 12.11 |
| Dividend | $7.60 (13.91%) |
| Ex-Dividend Date | Dec 31, 2025 |
| Volume | 396,666 |
| Open | 54.26 |
| Previous Close | 54.62 |
| Day's Range | 52.64 - 54.62 |
| 52-Week Range | 44.58 - 74.92 |
| Beta | 1.49 |
| Analysts | Sell |
| Price Target | 47.50 (-10.31%) |
| Earnings Date | Feb 23, 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 2025, IIPR's revenue was $265.96 million, a decrease of -13.80% compared to the previous year's $308.52 million. Earnings were $111.45 million, a decrease of -29.29%.
Financial StatementsAnalyst Forecast
According to 4 analysts, the average rating for IIPR stock is "Sell." The 12-month stock price target is $47.5, which is a decrease of -10.31% from the latest price.
News
High-Yield Cannabis REITs to Watch in March 2026
The cannabis sector continues to evolve in early 2026. However, volatility remains a defining feature. Multi-state operators still face pricing pressure. At the same time, capital remains tight across...
Innovative Industrial Properties: Cannabis REIT At Risk Premium (Rating Upgrade)
Innovative Industrial Properties stock is upgraded to Buy as the risk premium is now properly reflected in its 14.8% dividend yield and 7x AFFO multiple. IIPR's strategic pivot into life sciences via ...
Innovative Industrial: 15% Yield, 1.4x Debt To EBITDA, Inflection Point In Defaults
Innovative Industrial Properties remains a "Strong Buy," offering a near-15% yield and a best-in-class balance sheet despite tenant challenges. IIPR's low leverage (1.6x EBITDA) and minimal lease expi...
Innovative Industrial Properties Left Behind In Market Rotation - Contrarian Dividend/Recovery Story
IIPR offers a compelling risk/reward profile with an extremely rich dividend yield of 16.4% and upside potential of +135% to my bull-case, long-term price target of $108.50. This is despite the stock'...
Innovative Industrial Properties, Inc. (IIPR) Q4 2025 Earnings Call Transcript
Innovative Industrial Properties, Inc. (IIPR) Q4 2025 Earnings Call Transcript
Innovative Industrial Properties: A Dividend Cut Is Likely. Here's Where The Smart Money Goes
Innovative Industrial Properties (IIPR) faces structural headwinds from cannabis sector regulatory and tax laws, leading to tenant bankruptcies and declining revenues. IIPR's common shares trade at de...
Innovative Industrial Properties Reports Fourth Quarter and Full Year 2025 Results
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company") announced today results for the fourth quarter and full year ended December 31, 2025. Executive...
Innovative Industrial: Forget The 16.5% Yield, Get The 9.7%-Yielding Preferreds
Innovative Industrial Properties is rated Hold due to regulatory headwinds, a possible dividend cut, and a lack of stock momentum despite a 16.5% yield. IIPR trades at 0.7x book value, but AFFO per sh...
Cannabis REITs and Lenders to Watch as the Industry Stabilizes
The U.S. cannabis industry continues to evolve in 2026. Although operators face margin pressure, the long-term outlook remains compelling. Industry sales are projected to exceed $40 billion in the com...
Buy 5 IDEAL S&P 600 Small/MidCap 'Safer' February DiviDogs
The S&P 600 SmallCap index offers select high-yield 'dividend dogs' with analyst-projected net gains of 31% to 61% by February 2026. Adamas Trust stands out as the only stock ranking in the top ten fo...
Innovative Industrial Properties Announces Fourth Quarter 2025 Earnings Release Date and Conference Call
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its fourth quarter 2025 results after the close of trading on the New York Stock Ex...
3 Cannabis REIT Stocks Offering Income Potential in Q1 2026
The cannabis industry continues to evolve as legalization expands and regulations slowly improve. While many investors focus on plant-touching companies, others prefer lower-risk exposure. This is whe...
Innovative Industrial Properties Announces Tax Treatment of 2025 Distributions
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2025 distributions as follows: Security Description: Common Stock CUSIP: ...
3 Cannabis REITs Investors Are Watching Closely in January 2026
The cannabis sector continues evolving as capital markets slowly reopen. However, volatility remains high for plant-touching cannabis operators. Because of that, many investors look toward cannabis re...
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...