Innovative Industrial Properties, Inc.
IIPR
NYSE·Real Estate·REIT - Industrial·Mkt cap $1.6B
$56.83
▲ +1.18%
P/E
12.60
Mkt Cap
$1.6B
52-Wk Range
$44.58–$65.38
52-Week Range
$44.58 - $65.38
P/E
Fwd P/E
Beta
Div Yield
Avg Vol
Shares Out
Mkt Cap
Price action
Price chart
Up 3.6% over the trailing year
Total returns
Price performance
Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.
Why we rate it this way
The thesis at a glance
Bull and bear case · plain-English context across the five lenses we evaluate.
Bull Case
5 reasons
- First-mover advantage in cannabis-focused REIT space with established operator relationships
- Specialized expertise in cannabis facility requirements and regulatory compliance across states
- Diversified tenant base and geographic footprint reducing concentration risk
- Self-advised structure eliminating external management fees and improving cost efficiency
- Long-term triple-net lease agreements providing stable, predictable cash flows
Bear Case
1 risk
- Average volatility.
Growth
Stable outlook
Expansion of medical cannabis legalization across additional U.S. states
Value
Undervalued - trading well below Industrial REITs peers
Momentum
Stable
-0.8% over 3m
Quality
Excellent
Strong fundamentals
Dividend
High yield
13.37% yield
Smart-money signal
Who's buying IIPR right now
Insider Form 4s, 13F institutional filings, and Congressional disclosures - at a glance.
Earnings track record
Recent earnings results
AI-summarized recap of last quarter, plus the surprise on every print.
Next: Nov 2, 2026
AUG 3, 2026
Reported EPS of $1.36 vs $1.02 consensus (+33.3% surprise). Revenue of $63.3M vs $67.1M expected (-5.6%).
EPS surprise · last 4Q
1 of 1 beats
Estimate
Actual
Q3 26
+33.3%
Revenue trend · last 8Q
—
-3%
-5%
-21%
-15%
-13%
-4%
+1%
Q3 24
Q4 24
Q1 25
Q2 25
Q3 25
Q4 25
Q1 26
Q2 26
$76.5M
$76.7M
$71.7M
$62.9M
$64.7M
$66.7M
$69.0M
$63.3M
Margins · last 8Q
Gross
—
Operating
66.1%
Profit
60.0%
Wall Street consensus
1 analyst · 0% Buy
Live ratings and price targets aggregated across covering analysts.
Buy
0%
Hold
100%
Sell
0%
Median Price Target
—
Latest: Industrial Alliance · Aug 24, 2026
vs Industry
How IIPR stacks vs REIT - Industrial
Stock metrics vs industry averages. Green = better than industry.
Industry comparison data unavailable for this stock.
Related