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NYSE:IIPR

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

$97.51
+2.19 (+2.30%)
(As of 02/28/2024 ET)
Today's Range
$94.78
$97.79
50-Day Range
$88.82
$103.79
52-Week Range
$63.36
$105.07
Volume
301,082 shs
Average Volume
226,756 shs
Market Capitalization
$2.73 billion
P/E Ratio
16.90
Dividend Yield
7.47%
Price Target
$86.67

Innovative Industrial Properties MarketRank™ Stock Analysis

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
11.1% Downside
$86.67 Price Target
Short Interest
Bearish
8.45% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-1.91
Upright™ Environmental Score
News Sentiment
0.35mentions of Innovative Industrial Properties in the last 14 days
Based on 20 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
N/A

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

1.89 out of 5 stars

Finance Sector

665th out of 852 stocks

Real Estate Industry

18th out of 27 stocks


IIPR stock logo

About Innovative Industrial Properties Stock (NYSE:IIPR)

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 Stock Price History

IIPR Stock News Headlines

Q4 2023 Innovative Industrial Properties Inc Earnings Call
This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
3 Vice Stocks That Can Make a Gloomy February Sizzle
IIPR Dec 2024 50.000 put
IIPR Jul 2024 50.000 put
3 Cannabis Stocks Primed for an Epic Turnaround Rally
IIPR Dec 2024 80.000 call
Innovative Industrial Properties, Inc. (IIPR)
Innovative Industrial Properties Inc (IIPR)
See More Headlines
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Company Calendar

Last Earnings
11/03/2021
Ex-Dividend for 1/12 Dividend
12/28/2023
Dividend Payable
1/12/2024
Today
2/28/2024
Next Earnings (Estimated)
5/13/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
Real estate
Sub-Industry
Cannabis
Previous Symbol
NASDAQ:IIPR
Fax
N/A
Employees
21
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$86.67
High Stock Price Target
$95.00
Low Stock Price Target
$80.00
Potential Upside/Downside
-10.2%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
3 Analysts

Profitability

Net Income
$154.39 million
Pretax Margin
55.01%

Debt

Sales & Book Value

Annual Sales
$309.51 million
Cash Flow
$8.25 per share
Book Value
$69.65 per share

Miscellaneous

Free Float
27,647,000
Market Cap
$2.71 billion
Optionable
Optionable
Beta
1.53
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IIPR Stock Analysis - Frequently Asked Questions

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

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Innovative Industrial Properties in the last twelve months. There are currently 3 hold ratings for the stock. The consensus among Wall Street equities 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 target for 2024?

3 analysts have issued 1 year target prices for Innovative Industrial Properties' shares. Their IIPR share price targets range from $80.00 to $95.00. On average, they expect the company's stock price to reach $86.67 in the next twelve months. This suggests that the stock has a possible downside of 11.1%.
View analysts price targets for IIPR
or view top-rated stocks among Wall Street analysts.

How have IIPR shares performed in 2024?

Innovative Industrial Properties' stock was trading at $100.82 at the beginning of the year. Since then, IIPR shares have decreased by 3.3% and is now trading at $97.51.
View the best growth stocks for 2024 here
.

Are investors shorting Innovative Industrial Properties?

Innovative Industrial Properties saw a drop in short interest during the month of January. As of January 31st, there was short interest totaling 2,450,000 shares, a drop of 9.3% from the January 15th total of 2,700,000 shares. Based on an average daily trading volume, of 241,000 shares, the short-interest ratio is presently 10.2 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 Monday, May 13th 2024.
View our IIPR earnings forecast
.

How were Innovative Industrial Properties' earnings last quarter?

Innovative Industrial Properties, Inc. (NYSE:IIPR) posted its quarterly earnings results on Wednesday, November, 3rd. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $53.86 million for the quarter, compared to analysts' expectations of $52.80 million. Innovative Industrial Properties had a trailing twelve-month return on equity of 8.54% and a net margin of 53.50%.

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, December 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $1.82 per share on Friday, January 12th. This represents a $7.28 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date is Thursday, December 28th. This is a boost from the stock's previous quarterly dividend of $1.80.
Read our dividend analysis for IIPR
.

Is Innovative Industrial Properties a good dividend stock?

Innovative Industrial Properties (NYSE:IIPR) pays an annual dividend of $7.28 per share and currently has a dividend yield of 8.11%. 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 6 consecutive years, indicating the company has a new, but growing committment to grow its dividend. The dividend payout ratio is 126.17%. Payout ratios above 75% are not desirable because they may not be sustainable.
Read our dividend analysis for IIPR.

What ETFs hold Innovative Industrial Properties' stock?
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), 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 initial public offering (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?

Innovative Industrial Properties' stock is owned by many different retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (15.63%), Northern Trust Corp (1.36%), Charles Schwab Investment Management Inc. (1.35%), Norges Bank (1.10%), Legal & General Group Plc (0.94%) and Dimensional Fund Advisors LP (0.72%). Insiders that own company stock include Alan D Gold, Andy Bui, Catherine Hastings, David Stecher, 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:IIPR) was last updated on 2/28/2024 by MarketBeat.com Staff