Innovative Industrial Properties/$IIPR
1D1W1MYTD1Y5YMAX
Capital at risk
About Innovative Industrial Properties
Innovative Industrial Properties Inc is a real estate investment trust focused on the acquisition, ownership and management of specialized industrial and commercial properties in the United States. Its properties are prominently leased to state-licensed operators for their regulated cannabis facilities. The company conducts its business through a traditional umbrella partnership real estate investment trust, or UPREIT structure, in which properties are owned by its Operating Partnership, directly or through subsidiaries. Its segments are: Cannabis Portfolio and Life Science Portfolio, with the majority of revenue coming from the Cannabis Portfolio segment, which involves acquiring, developing, and leasing real estate to regulated cannabis operators on long-term triple-net leases.
- Ticker
- $IIPR
- Sector
- Real Estate
- Primary listing
- NYSE
- Employees
- 24
- Headquarters
- San Diego, United States
IIPR Metrics
BasicAdvanced
$1.6B
12.75
$4.43
1.40
$7.60
13.47%
Price and volume
Market cap
$1.6B
Beta
1.4
52-week high
$65.38
52-week low
$44.58
Average daily volume
304K
Dividend rate
$7.60
Financial strength
Current ratio
4.321
Quick ratio
3.166
Long term debt to equity
0.329
Total debt to equity
0.329
Dividend payout ratio (TTM)
160.71%
Interest coverage (TTM)
4.92%
Profitability
EBITDA (TTM)
202.605
Gross margin (TTM)
88.35%
Net profit margin (TTM)
52.27%
Operating margin (TTM)
48.57%
Revenue per employee (TTM)
$10,990,000
Management effectiveness
Return on assets (TTM)
3.28%
Return on equity (TTM)
7.39%
Valuation
Price to earnings (TTM)
12.748
Price to revenue (TTM)
6.005
Price to book
0.9
Price to tangible book (TTM)
0.91
Price to free cash flow (TTM)
8.299
Free cash flow yield (TTM)
12.05%
Free cash flow per share (TTM)
6.797
Dividend yield (TTM)
13.47%
Forward dividend yield
13.47%
Growth
Revenue change (TTM)
-8.42%
Earnings per share change (TTM)
-4.09%
3-year revenue growth (CAGR)
-3.55%
3-year earnings per share growth (CAGR)
-7.79%
3-year dividend per share growth (CAGR)
1.82%
What the Analysts think about IIPR
Analyst ratings (Buy, Hold, Sell) for Innovative Industrial Properties stock.
Analyst projections of the future price of Innovative Industrial Properties stock.
Bulls say / Bears say
IIPR’s $270 million strategic investment in IQHQ was fully funded by June 30, 2026, generating $8.5 million in Q2 interest and dividend income and diversifying revenue beyond cannabis. (SEC)
In Q2, IIPR bolstered its balance sheet by raising $402.5 million via exchangeable notes and ended the quarter with $299.7 million liquidity and a modest net debt to EBITDA of 1.7x, supporting growth initiatives. (SEC)
IIPR maintained robust leasing momentum, executing a 58,000 sq ft full-building lease with Curaleaf in Q2 and 337,000 sq ft of leases in Q4 2025 and Q1 2026. (SEC; Tiger Brokers)
Q2 2026 revenue rose just 0.7% year-over-year to $63.3 million and missed consensus by roughly 6.2%, reflecting muted top-line expansion. (SEC; 24/7 Wall St.)
Defaulted tenants only yielded $1.904 million in payments and $1.2 million of security deposits were applied in Q2, underlining persistent credit risk. (SEC)
Q4 2025 revenue fell year-over-year and management provided no forward guidance, leaving investors with limited visibility on future results. (Reuters)
Data summarised monthly by Lightyear AI. Last updated on 30 Aug 2026.
IIPR Financial Performance
Revenues and expenses
IIPR Earnings Performance
Company profitability
Upcoming events
IIPR News
AllArticlesVideos
Funds containing IIPR
AllUSDGBPEUR
Fund name | Fund size | $IIPR weighting |
|---|---|---|
iShares Developed Markets Property Yield$IDWP | $1.2B | 0.09% |
iShares S&P SmallCap 600$IDP6 | $3.2B | 0.09% |
iShares Developed Markets Property Yield£IWDP | £859M | 0.09% |
iShares S&P Small Cap 600£ISP6 | £2.4B | 0.09% |
SPDR Russell 2000 US Small Cap€R2US | €4.8B | 0.05% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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