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Innovative Industrial Properties, Inc.

$56.25 +$6.78 (+13.71%)
NYSE · 11 Sep 2026 20:02 UTC
Previous Close
$55.6
Day Range
$55.78$56.5
Year Range
$44.58$65.38
Market Cap
1.63B
AVG Volume
357.03K
Trailing/Forward PE
12.47/12.61
PEG ratio
2.52
Dividend Yield
13.51%
Next Earnings Date
2026-11-02
Primary Exchange
New York Stock ExchangeUS
Revenue (USD) · TTM
0100M200M300M400M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
IIPR Revenue (USD) · TTM by quarter
PeriodRevenue (USD) · TTM
26 Q2263.65M
26 Q1263.23M
25 Q4265.95M
25 Q3276.04M
25 Q2287.88M
25 Q1304.79M
24 Q4308.52M
24 Q3310.93M
24 Q2312.23M
24 Q1308.89M
Net Income (USD) · TTM
050M100M150M200M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
IIPR Net Income (USD) · TTM by quarter
PeriodNet Income (USD) · TTM
26 Q2137.81M
26 Q1119.98M
25 Q4118.25M
25 Q3126.43M
25 Q2137.34M
25 Q1153.31M
24 Q4161.66M
24 Q3163.27M
24 Q2164.65M
24 Q1163.92M
Operating Income (USD) · TTM
050M100M150M200M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
IIPR Operating Income (USD) · TTM by quarter
PeriodOperating Income (USD) · TTM
26 Q2137.92M
26 Q1122.97M
25 Q4124.45M
25 Q3134.28M
25 Q2146.83M
25 Q1160.28M
24 Q4168.34M
24 Q3170.29M
24 Q2172.19M
24 Q1173.26M
EBITDA (USD) · TTM
0100M200M300M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
IIPR EBITDA (USD) · TTM by quarter
PeriodEBITDA (USD) · TTM
26 Q2238.4M
26 Q1216.37M
25 Q4212.51M
25 Q3216.78M
25 Q2226.9M
25 Q1241.72M
24 Q4248.72M
24 Q3248.84M
24 Q2248.86M
24 Q1247.52M
Cash Flows (USD) · TTM
0100M200M300M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
IIPR Cash Flows (USD) · TTM by quarter
PeriodCash Flows (USD) · TTM
26 Q2196.45M
26 Q1197.03M
25 Q4198.19M
25 Q3188.91M
25 Q2208.19M
25 Q1223.94M
24 Q4241.26M
24 Q3266.72M
24 Q2264.93M
24 Q1262.49M
EPS (USD) · TTM
024624 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
IIPR EPS (USD) · TTM by quarter
PeriodEPS (USD) · TTM
26 Q24.42
26 Q13.92
25 Q43.93
25 Q34.22
25 Q24.62
25 Q15.2
24 Q45.53
24 Q35.63
24 Q25.71
24 Q15.71
Expenses (USD) · TTM
020M40M60MSG&ACapex24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
IIPR Expenses (USD) · TTM by quarter
PeriodExpenses (USD) · TTM
26 Q234.72M
26 Q138.57M
25 Q433.73M
25 Q352.1M
25 Q252.75M
25 Q153.78M
24 Q454.89M
24 Q339.46M
24 Q241.11M
24 Q142.02M
Shares Outstanding (USD) · TTM
-50M050M100MBuybacks (Repurchases)Stock-Based Compensation24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
IIPR Shares Outstanding (USD) · TTM by quarter
PeriodShares Outstanding (USD) · TTM
26 Q278.18M
26 Q19.18M
25 Q49.98M
25 Q38.36M
25 Q26.73M
25 Q1-14.79M
24 Q4-17.32M
24 Q3-17.94M
24 Q2-18.55M
24 Q1-19.07M
Dividends (USD)
00.511.52Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
IIPR Dividends (USD) by quarter
PeriodDividends (USD)
Jun 261.9
Mar 261.9
Dec 251.9
Sep 251.9
Jun 251.9
Mar 251.9
Dec 241.9
Sep 241.9
Jun 241.9
Mar 241.82
Employee Count
01020302016201720182019202020212022202320242025
IIPR Employee Count by quarter
PeriodEmployee Count
202523
202422
202321
202219
202118
202015
201913
20186
20176
20165
PE Ratio
510152025med 11.66Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
IIPR PE Ratio by quarter
PeriodPE Ratio
Sep 2611.61
Sep 2611.81
Aug 2611.62
Aug 2611.7
Aug 2611.56
Aug 2612.21
Jul 2613.72
Jul 2614.34
Jul 2615.04
Jul 2615.03
Jul 2614.78
Jun 2614.68
Jun 2613.91
Jun 2614.11
Jun 2613.66
May 2613.53
May 2613.31
May 2612.59
May 2613.37
May 2612.86
Apr 2613.2
Apr 2612.5
Apr 2612.04
Apr 2611.85
Mar 2612.03
Mar 2612.18
Mar 2612.43
Mar 2612.83
Feb 2612.5
Feb 2610.09
Feb 2610.14
Feb 2610.74
Jan 2610.67
Jan 2610.96
Jan 2611.16
Jan 2611.17
Jan 2610.92
Dec 2511.23
Dec 2511.73
Dec 2512.53
Dec 2511.07
Nov 2510.92
Nov 2510.61
Nov 2510.69
Nov 2511.36
Oct 2510.2
Oct 2510.74
Oct 2510.92
Oct 2510.41
Oct 2511.48
Sep 2511.07
Sep 2511.68
Sep 2511.58
Sep 2511.65
Aug 2511.52
Aug 2511.17
Aug 2510.62
Aug 259.32
Aug 259.47
Jul 259.9
Jul 259.68
Jul 2510.35
Jul 2510.5
Jun 2510.54
Jun 2510.7
Jun 2510.39
Jun 2510.21
May 2510.18
May 2510.24
May 2510.51
May 2510.07
May 259.76
Apr 259.36
Apr 259.02
Apr 258.63
Apr 259.34
Mar 2511.14
Mar 2511.12
Mar 2512.17
Mar 2512.8
Feb 2512.58
Feb 2512.7
Feb 2512.65
Feb 2512.72
Jan 2512.4
Jan 2511.76
Jan 2511.79
Jan 2510.98
Jan 2511.78
Dec 2411.79
Dec 2412.75
Dec 2418.12
Dec 2418.46
Nov 2418.87
Nov 2418.54
Nov 2417.69
Nov 2418.41
Nov 2421.79
Oct 2422.63
Oct 2422.85
Free Cash Flow Yield
5%10%15%20%med 13.39%Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
IIPR Free Cash Flow Yield by quarter
PeriodFree Cash Flow Yield
Sep 2612.28%
Sep 2612.07%
Aug 2612.27%
Aug 2612.18%
Aug 2612.34%
Aug 2611.67%
Jul 2611.97%
Jul 2611.45%
Jul 2610.92%
Jul 2610.92%
Jul 2611.11%
Jun 2611.19%
Jun 2611.81%
Jun 2611.64%
Jun 2612.02%
May 2612.14%
May 2612.34%
May 2613.04%
May 2612.29%
May 2613.03%
Apr 2612.7%
Apr 2613.41%
Apr 2613.92%
Apr 2614.14%
Mar 2613.94%
Mar 2613.76%
Mar 2613.48%
Mar 2613.06%
Feb 2613.41%
Feb 2614.81%
Feb 2614.73%
Feb 2613.91%
Jan 2614.01%
Jan 2613.63%
Jan 2613.39%
Jan 2613.37%
Jan 2613.68%
Dec 2513.3%
Dec 2512.73%
Dec 2511.92%
Dec 2513.5%
Nov 2513.69%
Nov 2514.08%
Nov 2513.97%
Nov 2513.15%
Oct 2514.87%
Oct 2514.11%
Oct 2513.88%
Oct 2514.56%
Oct 2513.2%
Sep 2513.69%
Sep 2512.98%
Sep 2513.09%
Sep 2513.01%
Aug 2513.16%
Aug 2513.58%
Aug 2514.27%
Aug 2516.27%
Aug 2515.42%
Jul 2514.75%
Jul 2515.09%
Jul 2514.11%
Jul 2513.91%
Jun 2513.87%
Jun 2513.65%
Jun 2514.05%
Jun 2514.31%
May 2514.34%
May 2514.26%
May 2513.9%
May 2514.5%
May 2515.29%
Apr 2515.94%
Apr 2516.54%
Apr 2517.3%
Apr 2515.98%
Mar 2513.39%
Mar 2513.42%
Mar 2512.26%
Mar 2511.66%
Feb 2511.87%
Feb 2511.75%
Feb 2512.91%
Feb 2512.84%
Jan 2513.17%
Jan 2513.89%
Jan 2513.86%
Jan 2514.88%
Jan 2513.87%
Dec 2413.86%
Dec 2412.82%
Dec 249.01%
Dec 248.85%
Nov 248.66%
Nov 248.81%
Nov 249.23%
Nov 248.87%
Nov 247.38%
Oct 247.11%
Oct 247.04%
Price to Sales
468101214med 5.56Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
IIPR Price to Sales by quarter
PeriodPrice to Sales
Sep 266.07
Sep 266.17
Aug 266.07
Aug 266.12
Aug 266.04
Aug 266.38
Jul 266.25
Jul 266.54
Jul 266.86
Jul 266.85
Jul 266.74
Jun 266.69
Jun 266.34
Jun 266.43
Jun 266.23
May 266.17
May 266.07
May 265.74
May 266.09
May 265.72
Apr 265.87
Apr 265.56
Apr 265.35
Apr 265.27
Mar 265.35
Mar 265.42
Mar 265.53
Mar 265.71
Feb 265.56
Feb 264.62
Feb 264.64
Feb 264.92
Jan 264.89
Jan 265.02
Jan 265.11
Jan 265.12
Jan 265
Dec 255.14
Dec 255.37
Dec 255.74
Dec 255.07
Nov 255
Nov 254.86
Nov 254.9
Nov 255.2
Oct 254.86
Oct 255.12
Oct 255.21
Oct 254.97
Oct 255.48
Sep 255.28
Sep 255.57
Sep 255.53
Sep 255.56
Aug 255.5
Aug 255.33
Aug 255.07
Aug 254.45
Aug 254.77
Jul 254.98
Jul 254.87
Jul 255.21
Jul 255.28
Jun 255.3
Jun 255.38
Jun 255.23
Jun 255.13
May 255.12
May 255.15
May 255.28
May 255.07
May 255.11
Apr 254.91
Apr 254.73
Apr 254.52
Apr 254.89
Mar 255.84
Mar 255.83
Mar 256.38
Mar 256.71
Feb 256.59
Feb 256.66
Feb 256.64
Feb 256.68
Jan 256.51
Jan 256.18
Jan 256.19
Jan 255.76
Jan 256.18
Dec 246.19
Dec 246.69
Dec 249.52
Dec 249.69
Nov 249.91
Nov 249.73
Nov 249.29
Nov 249.67
Nov 2411.49
Oct 2411.93
Oct 2412.05
EV/EBITDA
57.51012.51517.5med 8.25Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
IIPR EV/EBITDA by quarter
PeriodEV/EBITDA
Sep 268.41
Sep 268.52
Aug 268.41
Aug 268.46
Aug 268.38
Aug 268.75
Jul 268.89
Jul 269.23
Jul 269.62
Jul 269.62
Jul 269.48
Jun 269.42
Jun 268.99
Jun 269.11
Jun 268.86
May 268.78
May 268.66
May 268.26
May 268.69
May 268.79
Apr 268.97
Apr 268.58
Apr 268.33
Apr 268.22
Mar 268.32
Mar 268.41
Mar 268.55
Mar 268.77
Feb 268.58
Feb 267.29
Feb 267.31
Feb 267.66
Jan 267.62
Jan 267.79
Jan 267.91
Jan 267.92
Jan 267.77
Dec 257.95
Dec 258.24
Dec 258.71
Dec 257.86
Nov 257.77
Nov 257.59
Nov 257.64
Nov 258.03
Oct 257.01
Oct 257.34
Oct 257.45
Oct 257.14
Oct 257.79
Sep 257.54
Sep 257.91
Sep 257.85
Sep 257.89
Aug 257.81
Aug 257.6
Aug 257.27
Aug 256.48
Aug 256.68
Jul 256.95
Jul 256.81
Jul 257.23
Jul 257.33
Jun 257.35
Jun 257.46
Jun 257.26
Jun 257.14
May 257.13
May 257.16
May 257.33
May 257.06
May 256.95
Apr 256.69
Apr 256.47
Apr 256.22
Apr 256.68
Mar 257.85
Mar 257.84
Mar 258.52
Mar 258.93
Feb 258.78
Feb 258.87
Feb 258.9
Feb 258.95
Jan 258.74
Jan 258.32
Jan 258.34
Jan 257.81
Jan 258.33
Dec 248.34
Dec 248.97
Dec 2412.49
Dec 2412.72
Nov 2412.98
Nov 2412.77
Nov 2412.21
Nov 2412.68
Nov 2415.13
Oct 2415.68
Oct 2415.83
Price/Operating Cashflow
57.51012.515med 7.18Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
IIPR Price/Operating Cashflow by quarter
PeriodPrice/Operating Cashflow
Sep 268.14
Sep 268.28
Aug 268.15
Aug 268.21
Aug 268.11
Aug 268.57
Jul 268.23
Jul 268.61
Jul 269.02
Jul 269.02
Jul 268.87
Jun 268.81
Jun 268.34
Jun 268.47
Jun 268.2
May 268.12
May 267.99
May 267.56
May 268.02
May 267.67
Apr 267.87
Apr 267.46
Apr 267.18
Apr 267.07
Mar 267.18
Mar 267.27
Mar 267.42
Mar 267.66
Feb 267.46
Feb 266.19
Feb 266.22
Feb 266.59
Jan 266.54
Jan 266.72
Jan 266.85
Jan 266.85
Jan 266.7
Dec 256.89
Dec 257.2
Dec 257.69
Dec 256.79
Nov 256.7
Nov 256.51
Nov 256.56
Nov 256.97
Oct 256.21
Oct 256.55
Oct 256.65
Oct 256.34
Oct 257
Sep 256.75
Sep 257.12
Sep 257.06
Sep 257.1
Aug 257.02
Aug 256.8
Aug 256.47
Aug 255.68
Aug 256.02
Jul 256.3
Jul 256.15
Jul 256.58
Jul 256.67
Jun 256.7
Jun 256.81
Jun 256.61
Jun 256.49
May 256.48
May 256.51
May 256.68
May 256.4
May 256.1
Apr 255.86
Apr 255.64
Apr 255.4
Apr 255.84
Mar 256.97
Mar 256.95
Mar 257.61
Mar 258.01
Feb 257.87
Feb 257.94
Feb 257.74
Feb 257.79
Jan 257.59
Jan 257.2
Jan 257.22
Jan 256.72
Jan 257.21
Dec 247.22
Dec 247.8
Dec 2411.09
Dec 2411.3
Nov 2411.55
Nov 2411.35
Nov 2410.83
Nov 2411.27
Nov 2413.54
Oct 2414.06
Oct 2414.2
Price to Book
0.511.52med 0.84Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
IIPR Price to Book by quarter
PeriodPrice to Book
Sep 260.86
Sep 260.88
Aug 260.87
Aug 260.87
Aug 260.86
Aug 260.91
Jul 260.87
Jul 260.91
Jul 260.95
Jul 260.95
Jul 260.94
Jun 260.93
Jun 260.88
Jun 260.89
Jun 260.87
May 260.86
May 260.84
May 260.8
May 260.85
May 260.82
Apr 260.84
Apr 260.8
Apr 260.77
Apr 260.76
Mar 260.77
Mar 260.78
Mar 260.8
Mar 260.82
Feb 260.8
Feb 260.68
Feb 260.69
Feb 260.73
Jan 260.72
Jan 260.74
Jan 260.76
Jan 260.76
Jan 260.74
Dec 250.76
Dec 250.8
Dec 250.85
Dec 250.75
Nov 250.74
Nov 250.72
Nov 250.73
Nov 250.77
Oct 250.74
Oct 250.78
Oct 250.8
Oct 250.76
Oct 250.84
Sep 250.81
Sep 250.85
Sep 250.85
Sep 250.85
Aug 250.84
Aug 250.82
Aug 250.78
Aug 250.68
Aug 250.76
Jul 250.79
Jul 250.77
Jul 250.83
Jul 250.84
Jun 250.84
Jun 250.85
Jun 250.83
Jun 250.81
May 250.81
May 250.82
May 250.84
May 250.8
May 250.81
Apr 250.78
Apr 250.75
Apr 250.72
Apr 250.78
Mar 250.93
Mar 250.93
Mar 251.02
Mar 251.07
Feb 251.05
Feb 251.06
Feb 251.06
Feb 251.07
Jan 251.04
Jan 250.99
Jan 250.99
Jan 250.92
Jan 250.99
Dec 240.99
Dec 241.07
Dec 241.52
Dec 241.55
Nov 241.58
Nov 241.55
Nov 241.48
Nov 241.54
Nov 241.84
Oct 241.91
Oct 241.93
Innovative Industrial Properties, Inc.
IIPR
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News: IIPR

Net Lease REITs: Diversification Or Diworsification?

seekingalpha.com · 13 Sep 2026

Net Lease REITs: Diversification Or Diworsification?

Essential Properties Realty Trust offers a compelling blend of diversification, income, safety, and growth, with its largest tenant at just 3.1% of base rent. Diversification reduces tenant-specific risk, but quality of tenants, lease coverage, and disciplined capital allocation are critical for durable, repeatable AFFO-per-share growth. Concentrated REITs like PSTL or GLPI may deliver higher yields and faster growth but carry materially higher risk premiums due to tenant or sector concentration.

Innovative Industrial Properties (IIPR) Laps the Stock Market: Here's Why

zacks.com · 11 Sep 2026

Innovative Industrial Properties (IIPR) Laps the Stock Market: Here's Why

Innovative Industrial Properties (IIPR) reached $56.25 at the closing of the latest trading day, reflecting a +1.17% change compared to its last close.

Innovative Industrial Properties: One Of The Most Mispriced High-Yield REITs Today

seekingalpha.com · 11 Sep 2026

Innovative Industrial Properties: One Of The Most Mispriced High-Yield REITs Today

Innovative Industrial Properties, Inc. remains a Strong Buy, with valuation deeply discounted despite robust AFFO growth and a double-digit dividend yield. IIPR's Q2 AFFO per share rose 7% year-over-year, supported by disciplined capital allocation, balance sheet strength, and opportunistic share repurchases. Cannabis rescheduling progress and the industry's evolution could drive long-term re-rating, even as tenant risk and macroeconomic headwinds persist.

3 High-Dividend Marijuana Stocks to Watch in September 2026

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3 High-Dividend Marijuana Stocks to Watch in September 2026

The cannabis sector continues to evolve as investors search for opportunities beyond traditional marijuana producers and dispensary operators. One area attracting attention is cannabis real estate investment trusts, or cannabis REITs. These companies offer investors another way to participate in the expanding legal cannabis industry. Instead of selling marijuana products, cannabis REITs provide real estate and financing to licensed operators. Therefore, they can generate revenue without directly handling cannabis. This business structure has also made several cannabis REITs attractive dividend stocks. Many offer dividend yields considerably higher than those available from traditional income investments. As a result, income investors may find this small corner of the marijuana stock market especially interesting. However, higher dividend yields usually come with additional risks. Cannabis remains federally illegal in the United States. Consequently, marijuana businesses continue facing banking, financing, taxation, and regulatory challenges. These difficulties can also affect landlords and lenders serving the industry.

Innovative Industrial Properties: Compelling 13% Dividend Yield Backed By Regulatory Catalysts

seekingalpha.com · 4 Sep 2026

Innovative Industrial Properties: Compelling 13% Dividend Yield Backed By Regulatory Catalysts

Innovative Industrial Properties offers a high double-digit dividend yield, supported by a conservatively leveraged balance sheet and sector-specific regulatory tailwinds. IIPR trades at a 13.4% yield, with a strong buy rating reiterated based on its risk-adjusted upside and potential for re-rating as AFFO improves. Tenant concentration and cannabis sector volatility remain key risks, but low leverage (1.7x debt/EBITDA) provides significant flexibility versus net lease peers.

Why Is Innovative Industrial Properties (IIPR) Down 6.9% Since Last Earnings Report?

zacks.com · 2 Sep 2026

Why Is Innovative Industrial Properties (IIPR) Down 6.9% Since Last Earnings Report?

Innovative Industrial Properties (IIPR) reported earnings 30 days ago. What's next for the stock?

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Down 12.9% in 4 Weeks, Here's Why You Should You Buy the Dip in Innovative Industrial Properties (IIPR)

zacks.com · 19 Aug 2026

Down 12.9% in 4 Weeks, Here's Why You Should You Buy the Dip in Innovative Industrial Properties (IIPR)

The heavy selling pressure might have exhausted for Innovative Industrial Properties (IIPR) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

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