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. The company acquires, owns and manages specialized industrial properties, including cultivation, processing and distribution facilities, that are leased to experienced cannabis operators.

Innovative Industrial Properties generally provides capital to cannabis companies through sale-leaseback transactions and other real estate arrangements. Its leases are typically structured as long-term, triple-net agreements, under which tenants are generally responsible for property operating expenses, maintenance and taxes.

Founded in 2016, the company serves state-regulated cannabis markets in the United States, with properties located in jurisdictions that permit medical-use cannabis. Innovative Industrial Properties is headquartered in San Diego, California, and its leadership includes Executive Chairman Alan D. Gold and Chief Executive Officer David M. Smith.

Key Stats

• Today's Range: $50.46 to $52.40
• 50-Day Range: $50.50 to $61.44
• 52-Week Range: $44.58 to $65.38
• Volume: 452,619 shs
• Average Volume: 412,203 shs
• Market Capitalization: $1.39 billion
• P/E Ratio: 11.45
• Dividend Yield: 15.05%
• Price Target: $52.00
• Consensus Rating: Hold

Innovative Industrial Properties Stock Analysis - MarketRank™

Innovative Industrial Properties scored higher than 57% of companies evaluated by MarketBeat, and ranked 113th out of 186 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: 1.8 / 5
• Analyst Rating: Hold

Consensus Rating

Innovative Industrial Properties has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no strong buy ratings, 1 buy rating, 3 hold ratings, and 1 sell rating.

Upside/Downside

The consensus price target for Innovative Industrial Properties is close to its current price, suggesting limited near-term upside or downside.

Amount of Analyst Coverage

Innovative Industrial Properties has only been the subject of 3 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 9.08%

Earnings Growth

Earnings for Innovative Industrial Properties are expected to grow by 9.08% in the coming year, from $7.05 to $7.69 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Innovative Industrial Properties is 11.45, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 44.66.

Price to Earnings Ratio vs. Sector

The P/E ratio of Innovative Industrial Properties is 11.45, which means that it is trading at a less expensive P/E ratio than the Real Estate sector average P/E ratio of about 27.23.

Price to Book Value per Share Ratio

Innovative Industrial Properties has a P/B Ratio of 0.79. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 0.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

13.97% 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 13.9, which indicates bearish sentiment.

Change versus previous month

Short interest in Innovative Industrial Properties has recently increased by 1.81%, indicating that investor sentiment is decreasing.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Innovative Industrial Properties is a leading dividend payer. It pays a dividend yield of 15.04%, 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 172.34%. 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 98.83% 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: 1.11

News Sentiment

Innovative Industrial Properties has a news sentiment score of 1.11. 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 0.65 average news sentiment score of Real Estate companies.

News Coverage This Week

MarketBeat has tracked 8 news articles for Innovative Industrial Properties this week, compared to 4 articles on an average week.

Search Interest

Only 14 people have searched for IIPR on MarketBeat in the last 30 days. This is a decrease of -13% 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 300% compared to the previous 30 days.

Company Ownership

• Score: 1.5 / 5
• Insider Trading: Balanced

Insider Buying vs. Insider Selling

In the past three months, Innovative Industrial Properties insiders have sold just slightly more of their company's stock than they have bought. Specifically, they have bought $29,938.00 in company stock and sold $34,436.00 in company stock. It is common for insiders to sell company stock at intervals simply to diversify their holdings.

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 7/15 Dividend: 6/30/2026
• Ex-Dividend for 7/15 Dividend: 6/30/2026
• Dividend Payable: 7/15/2026
• Last Earnings: 8/03/2026
• Record date for 10/15 Dividend: 9/30/2026
• Ex-Dividend for 10/15 Dividend: 9/30/2026
• Today: 10/03/2026
• Dividend Payable: 10/15/2026
• Next Earnings (Estimated): 11/02/2026
• 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: $52.00
• High Price Target: $60.00
• Low Price Target: $45.00
• Potential Upside/Downside: +3.0%
• Consensus Rating: Hold
• Rating Score (0-4): 2.00
• Research Coverage: 5 Analysts

Profitability

• EPS (Trailing Twelve Months): $4.41
• Trailing P/E Ratio: 11.45
• Forward P/E Ratio: 7.16
• P/E Growth: N/A
• Net Income: $118.25 million
• Net Margins: 52.27%
• Pretax Margin: 52.27%
• Return on Equity: 7.73%
• Return on Assets: 5.69%

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: 5.23
• Cash Flow: $6.93 per share
• Price / Cash Flow: 7.29
• Book Value: $64.24 per share
• Price / Book: 0.79

Miscellaneous

• Outstanding Shares: 27,570,000
• Free Float: 26,937,000
• Market Cap: $1.39 billion
• Optionable: Optionable
• Beta: 1.37