S&P 500   4,274.51
DOW   33,550.27
QQQ   355.04
The Odds Are High Costco Will Declare a Special Dividend Soon 
U.S. drive to onshore battery supply chains could create big winners in lithium (Ad)
How You Can Reverse Engineer Michael Burry's Latest Buy
Stock market today: Wall Street moderately lower as anxiety over interest rates persists
U.S. drive to onshore battery supply chains could create big winners in lithium (Ad)
Target Will Close 9 Stores Across 4 States Due to Ongoing Crime That's 'Threatening the Safety' of Customers and Employees
Low Beta Stocks To Offset A Possible Hard Landing
The Strategic Gold Play You Haven't Heard About (Ad)
Video: Jack in the Box Employee Shoots at Customer Over Alleged Missing Curly Fries, Family Files Lawsuit
3 Mid-Cap Momentum Plays to Ride Into Q4
S&P 500   4,274.51
DOW   33,550.27
QQQ   355.04
The Odds Are High Costco Will Declare a Special Dividend Soon 
U.S. drive to onshore battery supply chains could create big winners in lithium (Ad)
How You Can Reverse Engineer Michael Burry's Latest Buy
Stock market today: Wall Street moderately lower as anxiety over interest rates persists
U.S. drive to onshore battery supply chains could create big winners in lithium (Ad)
Target Will Close 9 Stores Across 4 States Due to Ongoing Crime That's 'Threatening the Safety' of Customers and Employees
Low Beta Stocks To Offset A Possible Hard Landing
The Strategic Gold Play You Haven't Heard About (Ad)
Video: Jack in the Box Employee Shoots at Customer Over Alleged Missing Curly Fries, Family Files Lawsuit
3 Mid-Cap Momentum Plays to Ride Into Q4
S&P 500   4,274.51
DOW   33,550.27
QQQ   355.04
The Odds Are High Costco Will Declare a Special Dividend Soon 
U.S. drive to onshore battery supply chains could create big winners in lithium (Ad)
How You Can Reverse Engineer Michael Burry's Latest Buy
Stock market today: Wall Street moderately lower as anxiety over interest rates persists
U.S. drive to onshore battery supply chains could create big winners in lithium (Ad)
Target Will Close 9 Stores Across 4 States Due to Ongoing Crime That's 'Threatening the Safety' of Customers and Employees
Low Beta Stocks To Offset A Possible Hard Landing
The Strategic Gold Play You Haven't Heard About (Ad)
Video: Jack in the Box Employee Shoots at Customer Over Alleged Missing Curly Fries, Family Files Lawsuit
3 Mid-Cap Momentum Plays to Ride Into Q4
S&P 500   4,274.51
DOW   33,550.27
QQQ   355.04
The Odds Are High Costco Will Declare a Special Dividend Soon 
U.S. drive to onshore battery supply chains could create big winners in lithium (Ad)
How You Can Reverse Engineer Michael Burry's Latest Buy
Stock market today: Wall Street moderately lower as anxiety over interest rates persists
U.S. drive to onshore battery supply chains could create big winners in lithium (Ad)
Target Will Close 9 Stores Across 4 States Due to Ongoing Crime That's 'Threatening the Safety' of Customers and Employees
Low Beta Stocks To Offset A Possible Hard Landing
The Strategic Gold Play You Haven't Heard About (Ad)
Video: Jack in the Box Employee Shoots at Customer Over Alleged Missing Curly Fries, Family Files Lawsuit
3 Mid-Cap Momentum Plays to Ride Into Q4
NYSE:IIPR

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

$77.51
-1.92 (-2.42%)
(As of 09/27/2023 ET)
Compare
Today's Range
$75.93
$80.99
50-Day Range
$74.96
$89.34
52-Week Range
$63.36
$125.38
Volume
491,611 shs
Average Volume
256,088 shs
Market Capitalization
$2.17 billion
P/E Ratio
13.72
Dividend Yield
9.29%
Price Target
$120.80

Innovative Industrial Properties MarketRank™ Forecast

Analyst Rating
Hold
2.20 Rating Score
Upside/​Downside
55.9% Upside
$120.80 Price Target
Short Interest
Healthy
7.95% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-1.91
Upright™ Environmental Score
News Sentiment
1.36mentions of Innovative Industrial Properties in the last 14 days
Based on 6 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
0.24%
From $8.19 to $8.21 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.37 out of 5 stars

Finance Sector

459th out of 876 stocks

Real Estate Industry

13th out of 24 stocks


IIPR stock logo

About Innovative Industrial Properties (NYSE:IIPR) Stock

Innovative Industrial Properties, Inc. is a prominent player in the cannabis industry, operating as a real estate investment trust (REIT). The company primarily focuses on acquiring and managing specialized properties used for cultivating and processing medical-use cannabis. With a mission to be the leading real estate capital provider for the medical-use cannabis industry, the company has established itself as a key player in this rapidly growing sector.

Headquartered in San Diego, California, Innovative Industrial Properties, Inc. operates across the United States. The company strategically acquires properties in states where medical-use cannabis is legal, leasing them to licensed operators in the cannabis industry. By specializing in real estate, Innovative Industrial Properties, Inc. provides an essential service to cannabis operators, allowing them to focus on their core business while relying on Innovative Industrial Properties, Inc. for their facility needs.

Innovative Industrial Properties, Inc. offers a range of products and services tailored to the unique requirements of the cannabis industry. The company provides state-of-the-art cultivation facilities, processing and distribution centers, and other cannabis-related infrastructure. These properties are equipped with advanced lighting, irrigation, climate control, and security systems, ensuring optimal conditions for cannabis cultivation and production.

In recent years, Innovative Industrial Properties, Inc. has achieved notable milestones and received recognition for its contributions to the cannabis industry. The company has been recognized as the first and only NYSE-listed cannabis REIT and has experienced significant growth since its inception. Its ability to generate substantial revenue and deliver consistent returns to investors has positioned it as a trusted player in the cannabis real estate sector.

Under the leadership of an experienced management team, Innovative Industrial Properties, Inc. has thrived in the complex and evolving cannabis industry. The team is composed of individuals with diverse backgrounds and expertise, ensuring a comprehensive approach to the company's operations. Chief Executive Officer Paul Smithers brings extensive experience in real estate, finance, and legal matters, while Chief Financial Officer Catherine Hastings oversees the company's financial strategy and performance.

Innovative Industrial Properties, Inc. has demonstrated impressive growth in recent years. The company has experienced a steady increase in revenue, driven by the expansion of its property portfolio and long-term lease agreements with cannabis operators. Additionally, Innovative Industrial Properties, Inc. has maintained solid earnings and profit margins, reflecting the efficiency of its operations and the demand for specialized real estate services.

Examining market performance, Innovative Industrial Properties, Inc. has experienced significant stock price movements and changes in trading volume in recent times. The company's share price has been influenced by a variety of factors, including market sentiment toward the cannabis industry, regulatory developments, and company-specific news. Notably, positive news related to the expansion of cannabis legalization and the company’s acquisition of new properties has often resulted in upward movements in the stock price.

The cannabis industry has been subject to various trends, challenges, and regulatory changes. In this context, Innovative Industrial Properties, Inc. operates within a competitive landscape. The broader industry analysis reveals that the cannabis market is experiencing significant growth driven by increasing acceptance of medical-use cannabis and the legalization of recreational cannabis in some jurisdictions. However, the industry also faces regulatory and political uncertainties as laws and regulations surrounding cannabis continue to evolve.

Innovative Industrial Properties, Inc. has a distinct advantage as a specialized cannabis REIT. The company's focus on providing tailored real estate solutions for cannabis operators sets it apart from traditional REITs. By understanding the unique needs and compliance requirements of the cannabis industry, Innovative Industrial Properties, Inc. can offer properties and services that cater specifically to the cultivation and processing of medical-use cannabis.

Innovative Industrial Properties, Inc. is well-positioned to capitalize on growth opportunities in the cannabis industry. As more states and countries legalize medical and recreational cannabis, the demand for specialized real estate solutions is expected to increase. The company can seize these opportunities by expanding its property portfolio, forging new partnerships, and diversifying into emerging markets.

Innovative Industrial Properties, Inc. faces certain risks and challenges along with growth opportunities. One significant risk is the evolving regulatory landscape surrounding cannabis. Changes in legislation or new regulations could impact the company's ability to lease properties or operate within specific jurisdictions. Innovative Industrial Properties, Inc. must actively monitor and adapt to regulatory changes to mitigate potential disruptions to its operations.

Additionally, competition within the cannabis real estate market is intensifying as more players recognize the industry's potential. Increased competition may lead to pricing pressures and a potential decline in profit margins. To address this, Innovative Industrial Properties, Inc. must continue to differentiate itself by providing exceptional service, maintaining strong relationships with tenants, and leveraging its industry expertise.

Regarding risk management strategies, Innovative Industrial Properties, Inc. maintains a rigorous due diligence process when evaluating potential tenants. The company thoroughly assesses the financial stability and compliance track record of cannabis operators to mitigate the risk of tenant defaults or regulatory non-compliance. Innovative Industrial Properties, Inc. also maintains a balanced and diversified property portfolio to minimize concentration risks.

IIPR Price History

IIPR Stock News Headlines

Will This New Development Mean A Big Rally In Cannabis Stocks? (IIPR)
Numerous cannabis stocks surged after a government agency recommended removing marijuana from Schedule 1, potentially paving the way for industry growth.
3 REITs to Buy and Hold for the Long Term (IIPR)
It’s also nice that you can take advantage of their liquidity and buy and sell shares of REITs on a stock exchange instead of buying and selling property directly. If you are interested in these types of investments, check out our list of 3 REITs to buy and hold for the long term below.
The Strategic Gold Play You Haven't Heard About
Experts recommend adding gold to your portfolio, but in what form? Some savvy investors are now rejecting coins and mining stocks in favor of a unique gold investment alternative. It holds explosive growth potential similar to a junior gold stock -- but with less risk exposure.
The Strategic Gold Play You Haven't Heard About
Experts recommend adding gold to your portfolio, but in what form? Some savvy investors are now rejecting coins and mining stocks in favor of a unique gold investment alternative. It holds explosive growth potential similar to a junior gold stock -- but with less risk exposure.
Innovative Industrial Properties Stock: Pot REIT Yields 8.2%
Innovative Industrial Properties, Inc. (IIPR-PA)
See More Headlines
Receive IIPR Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Innovative Industrial Properties and its competitors with MarketBeat's FREE daily newsletter.

IIPR Company Calendar

Ex-Dividend for 7/14 Dividend
6/29/2023
Dividend Payable
7/14/2023
Last Earnings
8/02/2023
Today
9/28/2023
Ex-Dividend for 10/13 Dividend
9/28/2023
Dividend Payable
10/13/2023
Next Earnings (Estimated)
11/01/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Real estate
Sub-Industry
Cannabis
Sector
Finance
Previous Symbol
NASDAQ:IIPR
Fax
N/A
Employees
22
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$120.80
High Stock Price Forecast
$179.00
Low Stock Price Forecast
$80.00
Forecasted Upside/Downside
+55.9%
Consensus Rating
Hold
Rating Score (0-4)
2.20
Research Coverage
5 Analysts

Profitability

Net Income
$154.39 million
Pretax Margin
54.95%

Debt

Sales & Book Value

Annual Sales
$276.36 million
Cash Flow
$7.31 per share
Book Value
$69.65 per share

Miscellaneous

Free Float
27,647,000
Market Cap
$2.17 billion
Optionable
Not Optionable
Beta
1.57
10 "Recession Proof" Stocks That Will Thrive in Any Market Cover

Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.

Get This Free Report

Key Executives

  • Mr. Alan D. GoldMr. Alan D. Gold (Age 63)
    Exec. Chairman
    Comp: $3.27M
  • Mr. Paul E. SmithersMr. Paul E. Smithers (Age 66)
    Pres, CEO & Director
    Comp: $2.32M
  • Ms. Catherine  Hastings CPAMs. Catherine Hastings CPA (Age 52)
    Chief Operating Officer
    Comp: $1.01M
  • Mr. Brian J. Wolfe (Age 47)
    VP, Gen. Counsel & Company Sec.
    Comp: $884.15k
  • Mr. David J. Smith
    CFO & Treasurer
  • Mr. Ben Regin
    Chief Investment Officer
  • Mr. Andy  BuiMr. Andy Bui (Age 41)
    VP & Chief Accounting Officer
  • Mr. Griffin Marquardt
    Director of Construction Management













IIPR Stock - Frequently Asked Questions

Should I buy or sell Innovative Industrial Properties stock right now?

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Innovative Industrial Properties in the last year. There are currently 4 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" IIPR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in IIPR, but not buy additional shares or sell existing shares.
View IIPR analyst ratings
or view top-rated stocks.

What is Innovative Industrial Properties' stock price forecast for 2023?

5 equities research analysts have issued twelve-month price objectives for Innovative Industrial Properties' stock. Their IIPR share price forecasts range from $80.00 to $179.00. On average, they predict the company's stock price to reach $120.80 in the next year. This suggests a possible upside of 55.9% from the stock's current price.
View analysts price targets for IIPR
or view top-rated stocks among Wall Street analysts.

How have IIPR shares performed in 2023?

Innovative Industrial Properties' stock was trading at $101.35 at the start of the year. Since then, IIPR stock has decreased by 23.5% and is now trading at $77.51.
View the best growth stocks for 2023 here
.

Are investors shorting Innovative Industrial Properties?

Innovative Industrial Properties saw a decline in short interest during the month of September. As of September 15th, there was short interest totaling 2,230,000 shares, a decline of 7.1% from the August 31st total of 2,400,000 shares. Based on an average daily trading volume, of 243,400 shares, the days-to-cover ratio is presently 9.2 days.
View Innovative Industrial Properties' Short Interest
.

When is Innovative Industrial Properties' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 1st 2023.
View our IIPR earnings forecast
.

How were Innovative Industrial Properties' earnings last quarter?

Innovative Industrial Properties, Inc. (NYSE:IIPR) issued its earnings results on Wednesday, August, 2nd. The company reported $1.44 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by $0.50. The company earned $76.46 million during the quarter, compared to analyst estimates of $72.10 million. Innovative Industrial Properties had a net margin of 54.95% and a trailing twelve-month return on equity of 8.30%.

How often does Innovative Industrial Properties pay dividends? What is the dividend yield for Innovative Industrial Properties?

Innovative Industrial Properties declared a quarterly dividend on Friday, September 15th. Investors of record on Friday, September 29th will be paid a dividend of $1.80 per share on Friday, October 13th. This represents a $7.20 dividend on an annualized basis and a yield of 9.29%. The ex-dividend date of this dividend is Thursday, September 28th.
Read our dividend analysis for IIPR
.

What ETFs hold Innovative Industrial Properties' stock?
Is Innovative Industrial Properties a good dividend stock?

Innovative Industrial Properties (NYSE:IIPR) pays an annual dividend of $7.20 per share and currently has a dividend yield of 8.83%. IIPR has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 5 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 127.43%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, IIPR will have a dividend payout ratio of 87.70% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for IIPR.

What other stocks do shareholders of Innovative Industrial Properties own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Innovative Industrial Properties investors own include NVIDIA (NVDA), Alibaba Group (BABA), Aurora Cannabis (ACB), AbbVie (ABBV), PayPal (PYPL), Cronos Group (CRON), Micron Technology (MU), AT&T (T) and Walt Disney (DIS).

When did Innovative Industrial Properties IPO?

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

What is Innovative Industrial Properties' stock symbol?

Innovative Industrial Properties trades on the New York Stock Exchange (NYSE) under the ticker symbol "IIPR."

Who are Innovative Industrial Properties' major shareholders?

Innovative Industrial Properties' stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (17.85%), State Street Corp (6.11%), Zimmer Partners LP (4.41%), Northern Trust Corp (1.18%), Bank of New York Mellon Corp (1.13%) and JPMorgan Chase & Co. (0.84%). Insiders that own company stock include Alan D Gold, Andy Bui, Catherine Hastings, Gary A Kreitzer, Gary A Kreitzer, Paul E Smithers and Scott Shoemaker.
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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Innovative Industrial Properties' stock price today?

One share of IIPR stock can currently be purchased for approximately $77.51.

How much money does Innovative Industrial Properties make?

Innovative Industrial Properties (NYSE:IIPR) has a market capitalization of $2.17 billion and generates $276.36 million in revenue each year. The company earns $154.39 million in net income (profit) each year or $5.65 on an earnings per share basis.

How can I contact Innovative Industrial Properties?

Innovative Industrial Properties' mailing address is 1389 CENTER DRIVE SUITE 200, PARK CITY UT, 84098. The official website for the company is www.innovativeindustrialproperties.com. The company can be reached via phone at (858) 997-3332 or via email at ir@iipreit.com.

This page (NYSE:IIPR) was last updated on 9/28/2023 by MarketBeat.com Staff

My Account -