Innovative Industrial Properties (IIPR) Stock Price, News & Analysis

Company Overview

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.

Key Stats

• Today's Range: $50.50 to $52.14
• 50-Day Range: $51.32 to $59.01
• 52-Week Range: $45.44 to $138.35
• Volume: 290,640 shs
• Average Volume: 253,116 shs
• Market Capitalization: $1.44 billion
• P/E Ratio: 9.87
• Dividend Yield: 14.81%
• Price Target: $78.67
• Consensus Rating: Hold

Innovative Industrial Properties Stock Analysis - MarketRank™

Innovative Industrial Properties scored higher than 83% of companies evaluated by MarketBeat, and ranked 309th out of 922 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.1 / 5
• Analyst Rating: Hold

Consensus Rating

Innovative Industrial Properties has received a consensus rating of Hold. The company's average rating score is 2.11, and is based on 1 buy rating, 5 hold ratings, and 2 sell ratings.

Amount of Analyst Coverage

Innovative Industrial Properties has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 6.76%

Earnings Growth

Earnings for Innovative Industrial Properties are expected to grow by 6.76% in the coming year, from $8.28 to $8.84 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Innovative Industrial Properties is 9.87, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 28.12.

Price to Earnings Ratio vs. Sector

The P/E ratio of Innovative Industrial Properties is 9.87, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 19.77.

Price to Book Value per Share Ratio

Innovative Industrial Properties has a P/B Ratio of 0.76. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

6.32% of the outstanding shares of Innovative Industrial Properties have been sold short.

Short Interest Ratio / Days to Cover

Innovative Industrial Properties has a short interest ratio ("days to cover") of 6.9.

Change versus previous month

Short interest in Innovative Industrial Properties has recently decreased by 1.67%, indicating that investor sentiment is improving.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Innovative Industrial Properties is a leading dividend payer. It pays a dividend yield of 14.79%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Innovative Industrial Properties has only been increasing its dividend for 4 years.

Dividend Coverage

The dividend payout ratio of Innovative Industrial Properties is 146.15%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on EPS estimates, Innovative Industrial Properties will have a dividend payout ratio of 85.97% in the coming year. This indicates that Innovative Industrial Properties may not be able to sustain their current dividend.

Sustainability and ESG

• Score: 0.0 / 5
• Environmental Score: -1.91

Percentage of Shares Shorted

6.32% of the outstanding shares of Innovative Industrial Properties have been sold short.

Short Interest Ratio / Days to Cover

Innovative Industrial Properties has a short interest ratio ("days to cover") of 6.9.

Change versus previous month

Short interest in Innovative Industrial Properties has recently decreased by 1.67%, indicating that investor sentiment is improving.

News and Social Media

• Score: 3.6 / 5
• News Sentiment: 1.44

News Sentiment

Innovative Industrial Properties has a news sentiment score of 1.44. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.69 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 17 news articles for Innovative Industrial Properties this week, compared to 11 articles on an average week.

Search Interest

40 people have searched for IIPR on MarketBeat in the last 30 days. This is an increase of 90% compared to the previous 30 days.

MarketBeat Follows

Only 5 people have added Innovative Industrial Properties to their MarketBeat watchlist in the last 30 days. This is a decrease of -29% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Innovative Industrial Properties insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 2.00% of the stock of Innovative Industrial Properties is held by insiders.

Percentage Held by Institutions

70.58% of the stock of Innovative Industrial Properties is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

IIPR Stock Analysis - Frequently Asked Questions

How have IIPR shares performed this year?

Innovative Industrial Properties' stock was trading at $66.64 on January 1st, 2025. Since then, IIPR shares have decreased by 23.0% and is now trading at $51.32.

How were Innovative Industrial Properties' earnings last quarter?

Innovative Industrial Properties, Inc. (NYSE:IIPR) posted its quarterly earnings results on Wednesday, May, 7th. The company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.06 by $0.12. The company's quarterly revenue was down 5.7% on a year-over-year basis.
Read the conference call transcript.

When did Innovative Industrial Properties IPO?

Innovative Industrial Properties (IIPR) raised $176 million in an IPO on Thursday, December 1st 2016. The company issued 8,800,000 shares at a price of $20.00 per share. Ladenburg Thalmann and Compass Point served as the underwriters for the IPO.

Who are Innovative Industrial Properties' major shareholders?

Top institutional shareholders of Innovative Industrial Properties include Koa Wealth Management LLC (0.24%), TrueWealth Advisors LLC (0.22%), Wedge Capital Management L L P NC (0.17%) and Exchange Traded Concepts LLC (0.14%). Insiders that own company stock include Alan D Gold and David Stecher.
View institutional ownership trends.

How do I buy shares of Innovative Industrial Properties?

Shares of IIPR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Innovative Industrial Properties own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Innovative Industrial Properties investors own include Mesa Air Group (MESA), BMO Capital Markets (), Stifel Nicolaus (), Wunderlich (), Standpoint Research (), Duncan Williams () and Soleil Securities ().

Company Calendar

• Last Earnings: 5/07/2025
• Record date for 7/15 Dividend: 6/30/2025
• Ex-Dividend for 7/15 Dividend: 6/30/2025
• Dividend Payable: 7/15/2025
• Today: 8/03/2025
• Next Earnings (Estimated): 8/04/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: REIT - EQTY TRUST - OTHER
• Sub-Industry: Cannabis
• Current Symbol: NYSE:IIPR
• Previous Symbol: NASDAQ:IIPR
• CIK: 1677576
• Web: www.innovativeindustrialproperties.com
• Phone: (858) 997-3332
• Fax: N/A
• Employees: 20
• Year Founded: N/A

Price Target and Rating

• Average Price Target for Innovative Industrial Properties: $78.67
• High Price Target: $130.00
• Low Price Target: $45.00
• Potential Upside/Downside: +53.3%
• Consensus Rating: Hold
• Rating Score (0-4): 2.11
• Research Coverage: 9 Analysts

Profitability

• EPS (Trailing Twelve Months): $5.20
• Trailing P/E Ratio: 9.87
• Forward P/E Ratio: 6.20
• P/E Growth: N/A
• Net Income: $161.66 million
• Net Margins: 50.30%
• Pretax Margin: 50.30%
• Return on Equity: 8.01%
• Return on Assets: 6.45%

Debt

• Debt-to-Equity Ratio: 0.15
• Current Ratio: 10.73
• Quick Ratio: 10.73

Sales & Book Value

• Annual Sales: $308.52 million
• Price / Sales: 4.66
• Cash Flow: $8.24 per share
• Price / Cash Flow: 6.23
• Book Value: $67.50 per share
• Price / Book: 0.76

Miscellaneous

• Outstanding Shares: 28,010,000
• Free Float: 27,451,000
• Market Cap: $1.44 billion
• Optionable: Optionable
• Beta: 1.65