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

Company Overview

Innovative Industrial Properties, Inc. (NYSE:IIPR) is a real estate investment trust focused on the regulated cannabis industry in the United States. The company acquires, owns and manages specialized industrial properties, including cultivation, processing and manufacturing facilities used by state-licensed cannabis operators.

Innovative Industrial Properties generally leases its properties to cannabis companies under long-term, typically triple-net lease agreements. Under these arrangements, tenants are generally responsible for property-level operating expenses, while the company provides real estate capital and manages its portfolio as a landlord.

Founded in 2016, Innovative Industrial Properties has expanded through property acquisitions, sale-leaseback transactions and investments in the development or redevelopment of cannabis facilities. Its properties are located in multiple U.S. states with regulated medical-use or adult-use cannabis markets, with the specific portfolio changing as the company acquires and disposes of properties.

The company is led by Chief Executive Officer and Chairman Alan D. Gold, who has experience in real estate investment and development. Innovative Industrial Properties is structured as a REIT and focuses primarily on generating rental income from properties serving the cannabis industry rather than cultivating, processing or selling cannabis products itself.

Key Stats

• Today's Range: $53.85 to $54.93
• 50-Day Range: $50.24 to $57.21
• 52-Week Range: $44.58 to $65.38
• Volume: 344,085 shs
• Average Volume: 327,792 shs
• Market Capitalization: $1.51 billion
• P/E Ratio: 12.35
• Dividend Yield: 13.89%
• Price Target: $51.81
• Consensus Rating: Hold

Innovative Industrial Properties Stock Analysis - MarketRank™

Innovative Industrial Properties scored higher than 87% of companies evaluated by MarketBeat, and ranked 33rd out of 189 stocks in the real estate sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.9 / 5
• Analyst Rating: Hold

Consensus Rating

Innovative Industrial Properties has received a consensus rating of Hold. The company's average rating score is 2.17, and is based on no strong buy ratings, 2 buy ratings, 3 hold ratings, and 1 sell rating.

Downside Risk

Innovative Industrial Properties has a consensus price target of $51.81, representing about 5.3% downside from its current price of $54.73.

Amount of Analyst Coverage

Innovative Industrial Properties has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 7.61%

Earnings Growth

Earnings for Innovative Industrial Properties are expected to grow by 7.61% in the coming year, from $6.83 to $7.35 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Innovative Industrial Properties is 12.35, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 26.48.

Price to Earnings Ratio vs. Sector

The P/E ratio of Innovative Industrial Properties is 12.35, which means that it is trading at a less expensive P/E ratio than the Real Estate sector average P/E ratio of about 30.43.

Price to Book Value per Share Ratio

Innovative Industrial Properties has a P/B Ratio of 0.85. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

13.22% of the float of Innovative Industrial Properties has been sold short.

Short Interest Ratio / Days to Cover

Innovative Industrial Properties has a short interest ratio ("days to cover") of 8.39.

Change versus previous month

Short interest in Innovative Industrial Properties has recently decreased by 16.38%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Innovative Industrial Properties is a leading dividend payer. It pays a dividend yield of 13.97%, 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 171.56%. 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 103.40% in the coming year. This indicates that Innovative Industrial Properties may not be able to sustain their current dividend.

News and Social Media

• Score: 3.8 / 5
• News Sentiment: 1.03

News Sentiment

Innovative Industrial Properties has a news sentiment score of 1.03. 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 0.60 average news sentiment score of Real Estate companies.

News Coverage This Week

MarketBeat has tracked 24 news articles for Innovative Industrial Properties this week, compared to 5 articles on an average week.

Search Interest

Only 4 people have searched for IIPR on MarketBeat in the last 30 days. This is a decrease of -80% compared to the previous 30 days.

MarketBeat Follows

8 people have added Innovative Industrial Properties to their MarketBeat watchlist in the last 30 days. This is an increase of 60% compared to the previous 30 days.

Company Ownership

• Score: 4.4 / 5
• Insider Trading: Acquiring Shares

Cluster Insider Buying

2 insiders have purchased shares of Innovative Industrial Properties in the last three months. Multiple insiders buying is a strong bullish signal.

Net Insider Buying

Over the last three months, insiders have purchased a net $995,502.00 in company stock, which represents 0.0660% of the company's market cap.

Insider Buying vs. Insider Selling

In the past three months, Innovative Industrial Properties insiders have bought 2,890.88% more of their company's stock than they have sold. Specifically, they have bought $1,029,938.00 in company stock and sold $34,436.00 in company stock.

Percentage Held by Insiders

2.30% 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.

Company Calendar

• Record date for 10/15 Dividend: 9/30/2026
• Ex-Dividend for 10/15 Dividend: 9/30/2026
• Dividend Payable: 10/15/2026
• Last Earnings: 11/02/2026
• Today: 11/07/2026
• Fiscal Year End: 12/31/2026

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Real Estate
• Industry: Industrial REITs
• Sub-Industry: Industrial REITs
• Current Symbol: NYSE:IIPR
• Previous Symbol: NASDAQ:IIPR
• CIK: 1677576
• Web: www.innovativeindustrialproperties.com
• Phone: (858) 997-3332
• Fax: N/A
• Employees: 24
• Year Founded: 2016

Price Target and Rating

• Average Price Target for Innovative Industrial Properties: $51.81
• High Price Target: $60.00
• Low Price Target: $45.00
• Potential Upside/Downside: -5.3%
• Consensus Rating: Hold
• Rating Score (0-4): 2.17
• Research Coverage: 6 Analysts

Profitability

• EPS (Trailing Twelve Months): $4.43
• Trailing P/E Ratio: 12.35
• Forward P/E Ratio: 7.45
• P/E Growth: N/A
• Net Income: $118.25 million
• Net Margins: 53.20%
• Pretax Margin: 52.27%
• Return on Equity: 7.93%
• Return on Assets: 5.73%

Debt

• Debt-to-Equity Ratio: 0.35
• Current Ratio: 24.51
• Quick Ratio: 24.51

Sales & Book Value

• Annual Sales: $265.95 million
• Price / Sales: 5.67
• Cash Flow: $6.97 per share
• Price / Cash Flow: 7.85
• Book Value: $64.24 per share
• Price / Book: 0.85

Miscellaneous

• Outstanding Shares: 27,570,000
• Free Float: 26,937,000
• Market Cap: $1.51 billion
• Optionable: Optionable
• Beta: 1.33