IIPR

Innovative Industrial Properties, Inc.

Price Chart

Latest Quote

$62.33

+1.17 (+1.90%)

Current Price

Previous Close	$61.16
Open	$61.15
Day High	$62.67
Day Low	$61.15
Volume	243,421

Fetched: 2026-06-26T18:55:42

Stock Information

Quarterly Dividend / Yield	$7.60 / 12.43%
Shares Outstanding	29.00M
Quarterly Dividend Yield	12.43%
Quarterly Dividend	$7.60
Total Debt	$365.98M
Cash Equivalents	$89.12M
Revenue	$263.23M
Net Income	$111.07M
Sector	Real Estate
Industry	REIT - Industrial
Market Cap	$1.81B
P/E Ratio	15.90
EPS (TTM)	$3.92
Exchange	NYQ

🌐 Visit Website

📊 Comprehensive Analysis

Company Data

Enterprise Value	$2.14B
Sales	$263.23M
Income	$111.07M
Book/sh	$63.09
Cash/sh	$3.07
Employees	23

Financial Ratios

Quick Ratio	0.25
Current Ratio	0.35
Debt/Eq	19.32
EPS Growth TTM	5.60%

Returns & Margins

ROA	3.33%
ROE	6.29%
Gross Margin	88.46%
Operating Margin	49.80%
Profit Margin	45.58%

Ownership

Insider Ownership	1.87%
Institutional Ownership	71.61%
Insider & Institutional transactions data not available

Valuation Ratios

Forward P/E	13.01
P/S	6.87
P/B	0.99

Analyst Data

Recommendation	hold
Target Price	$61.75

Technical Indicators

SMA20	$59.52
SMA50	$57.04
SMA200	$50.71
RSI	62.58
ATR	2.0339

Shares Float	27.98M
Short Float	19.29%
Short Ratio	9.24
Volatility	1.45
Rel Volume	0.54

Performance History

Week	+4.57%
Month	+7.90%
Quarter	+24.30%
6 Months	+35.80%
YTD	+30.88%
Year	+27.07%
3 Years	+15.88%
5 Years	-48.34%
10 Years	+470.68%

Stock Score: ⭐ Premium

Based on debt, profitability, growth, and cash flow metrics

⭐ Premium Feature

Recent Price History

Date	Close	Volume
2026-06-26	$62.33	243,421
2026-06-25	$61.16	224,500
2026-06-24	$61.08	342,800
2026-06-23	$60.66	303,600
2026-06-22	$59.31	396,600
2026-06-18	$59.60	461,300
2026-06-17	$58.65	313,000
2026-06-16	$59.60	365,600
2026-06-15	$60.50	378,200
2026-06-12	$60.49	563,200
2026-06-11	$61.77	511,700
2026-06-10	$58.16	3,234,300
2026-06-09	$60.34	189,300
2026-06-08	$59.19	300,200
2026-06-05	$58.56	195,700
2026-06-04	$58.40	149,500
2026-06-03	$57.27	225,800
2026-06-02	$57.95	141,200
2026-06-01	$57.32	250,100
2026-05-29	$57.99	278,100
2026-05-28	$58.00	222,100
2026-05-27	$57.76	221,900
2026-05-26	$57.06	341,600

About Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties and life science real estate. Innovative Industrial Properties, Inc. was incorporated on June 15th 2016 in Maryland and is based in San Diego, California.

📰 Latest News

Innovative Industrial Properties (IIPR) Exceeds Market Returns: Some Facts to Consider

Zacks • 2026-06-18T22:15:03Z

KBWY Up 20% This Year, But The Real Test Comes When Rent Rolls Reset

24/7 Wall St. • 2026-06-18T16:28:35Z

Innovative Industrial Properties (IIPR) Stock Valuation After Upsized US$350m Exchangeable Notes Offering

Simply Wall St. • 2026-06-15T03:10:13Z

Innovative Industrial Properties (IIPR) Stock Declines While Market Improves: Some Information for Investors

Zacks • 2026-06-12T22:15:04Z

Is Innovative Industrial Properties, Inc. (IIPR) A Good Stock To Buy Now?

Insider Monkey • 2026-06-07T14:59:09Z

Stronger Leasing And Life Sciences Shift Could Be A Game Changer For Innovative Industrial Properties (IIPR)

Simply Wall St. • 2026-06-05T00:18:59Z

Why Is Innovative Industrial Properties (IIPR) Down 3.9% Since Last Earnings Report?

Zacks • 2026-06-03T15:30:08Z

What IIPR's $282M Senior Note Repayment Means for Investors in 2026

Zacks • 2026-05-27T14:25:00Z

The Most Important Marijuana Stock You're Not Watching

Motley Fool • 2026-05-23T08:20:00Z

Refinancing Shift At Innovative Industrial Properties Reshapes Debt And Investor Outlook

Simply Wall St. • 2026-05-22T05:13:27Z

Period:

Income Statement (Annual)

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Revenue
Reconciled Cost Of Revenue	$30,177,000	$28,472,000	$24,893,000	$10,520,000
Cost Of Revenue	$30,177,000	$28,472,000	$24,893,000	$10,520,000
Total Revenue	$265,955,000	$308,517,000	$309,506,000	$276,359,000
Operating Revenue	$265,486,000	$306,936,000	$307,349,000	$274,377,000
Expenses
Interest Expense	$18,728,000	$16,258,000	$16,096,000	$16,952,000
Total Expenses	$137,980,000	$136,723,000	$134,919,000	$110,343,000
Other Income Expense	$-3,853,000	$-3,449,000	$22,000	$3,476,000
Net Non Operating Interest Income Expense	$-5,875,000	$-6,691,000	$-9,021,000	$-15,106,000
Total Other Finance Cost	$1,467,000	$1,421,000	$1,371,000	$1,349,000
Interest Expense Non Operating	$18,728,000	$16,258,000	$16,096,000	$16,952,000
Operating Expense	$107,803,000	$108,251,000	$110,026,000	$99,823,000
General And Administrative Expense	$33,735,000	$37,444,000	$42,832,000	$38,520,000
Other Non Operating Income Expenses	-	-	$22,000	$-125,000
Income & Earnings
Net Income From Continuing Operation Net Minority Interest	$118,247,000	$161,661,000	$165,588,000	$154,386,000
Net Interest Income	$-5,875,000	$-6,691,000	$-9,021,000	$-15,106,000
Interest Income	$14,320,000	$10,988,000	$8,446,000	$3,195,000
Normalized Income	$121,290,870	$164,385,710	$165,588,000	$151,541,210
Net Income From Continuing And Discontinued Operation	$118,247,000	$161,661,000	$165,588,000	$154,386,000
Total Operating Income As Reported	$124,122,000	$168,345,000	$174,587,000	$169,617,000
Average Dilution Earnings	$0	$28,000	$212,000	$546,000
Net Income Common Stockholders	$111,448,000	$157,603,000	$162,754,000	$152,200,000
Net Income	$118,247,000	$161,661,000	$165,588,000	$154,386,000
Net Income Including Noncontrolling Interests	$118,247,000	$161,661,000	$165,588,000	$154,386,000
Net Income Continuous Operations	$118,247,000	$161,654,000	$165,588,000	$154,386,000
Pretax Income	$118,247,000	$161,654,000	$165,588,000	$154,386,000
Special Income Charges	$-3,527,000	$0	$0	-
Interest Income Non Operating	$14,320,000	$10,988,000	$8,446,000	$3,195,000
Operating Income	$127,975,000	$171,794,000	$174,587,000	$166,016,000
Depreciation Amortization Depletion Income Statement	$74,068,000	$70,807,000	$67,194,000	$61,303,000
Depreciation And Amortization In Income Statement	$74,068,000	$70,807,000	$67,194,000	$61,303,000
Gross Profit	$235,778,000	$280,045,000	$284,613,000	$265,839,000
Per Share
Diluted EPS	$3.93	$5.52	$5.77	$5.52
Basic EPS	$3.98	$5.58	$5.82	$5.57
Other
Tax Effect Of Unusual Items	$-809,130	$-724,290	$0	$756,210
Tax Rate For Calcs	$0	$0	$0	$0
Normalized EBITDA (Bullshit earnings)	$214,896,000	$252,168,000	$248,878,000	$229,040,000
Total Unusual Items	$-3,853,000	$-3,449,000	$0	$3,601,000
Total Unusual Items Excluding Goodwill	$-3,853,000	$-3,449,000	$0	$3,601,000
Reconciled Depreciation	$74,068,000	$70,807,000	$67,194,000	$61,303,000
EBITDA (Bullshit earnings)	$211,043,000	$248,719,000	$248,878,000	$232,641,000
EBIT	$136,975,000	$177,912,000	$181,684,000	$171,338,000
Diluted Average Shares	$28,377,227	$28,530,650	$28,255,797	$27,663,169
Basic Average Shares	$28,005,228	$28,226,402	$27,977,807	$27,345,047
Diluted NI Availto Com Stockholders	$111,448,000	$157,631,000	$162,966,000	$152,746,000
Otherunder Preferred Stock Dividend	$2,987,000	$2,254,000	$1,482,000	$834,000
Preferred Stock Dividends	$3,812,000	$1,804,000	$1,352,000	$1,352,000
Impairment Of Capital Assets	$3,527,000	$0	$0	-
Gain On Sale Of Security	$-326,000	$-3,449,000	-	$3,601,000
Selling General And Administration	$33,735,000	$37,444,000	$42,832,000	$38,520,000
Other Gand A	$33,735,000	$37,444,000	$42,832,000	$38,520,000

Fetched: 2026-06-24

Balance Sheet (Annual)

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Assets
Net Tangible Assets	$1,841,638,000	$1,928,675,000	$1,944,727,000	$1,952,788,000
Total Assets	$2,370,858,000	$2,378,047,000	$2,391,090,000	$2,414,836,000
Total Non Current Assets	$2,203,968,000	$2,209,002,000	$2,227,391,000	$2,308,243,000
Other Non Current Assets	$27,473,000	$26,889,000	$30,020,000	$30,182,000
Non Current Accounts Receivable	$859,000	-	-	-
Financial Assets	$7,883,000	-	-	-
Investmentin Financial Assets	$47,430,000	$0	-	-
Goodwill And Other Intangible Assets	$6,366,000	$7,385,000	$8,245,000	$9,105,000
Other Intangible Assets	$6,366,000	$7,385,000	$8,245,000	$9,105,000
Current Assets	$166,890,000	$169,045,000	$163,699,000	$106,593,000
Receivables	$119,293,000	$22,800,000	$22,000,000	$18,021,000
Loans Receivable	$119,293,000	$22,800,000	$22,000,000	$18,021,000
Cash Cash Equivalents And Short Term Investments	$47,597,000	$146,245,000	$140,249,000	$87,122,000
Cash And Cash Equivalents	$47,597,000	$146,245,000	$140,249,000	$87,122,000
Restricted Cash	-	$0	$1,450,000	$1,450,000
Debt
Net Debt	$345,505,000	$151,620,000	$160,631,000	$214,373,000
Total Debt	$393,102,000	$297,865,000	$300,880,000	$301,495,000
Long Term Debt And Capital Lease Obligation	$290,602,000	$297,865,000	$300,880,000	$301,495,000
Long Term Debt	$290,602,000	$297,865,000	$300,880,000	$301,495,000
Current Debt And Capital Lease Obligation	$102,500,000	-	-	-
Current Debt	$102,500,000	-	-	-
Liabilities
Total Liabilities Net Minority Interest	$522,854,000	$441,987,000	$438,118,000	$452,943,000
Total Non Current Liabilities Net Minority Interest	$301,300,000	$309,203,000	$305,936,000	$303,396,000
Other Non Current Liabilities	$10,698,000	$11,338,000	$5,056,000	$1,901,000
Current Liabilities	$221,554,000	$132,784,000	$132,182,000	$149,547,000
Current Deferred Liabilities	$50,307,000	$57,176,000	$59,358,000	$58,716,000
Payables And Accrued Expenses	$68,747,000	$75,608,000	$72,824,000	$90,831,000
Payables	$68,747,000	$75,608,000	$72,824,000	$90,831,000
Dividends Payable	$54,913,000	$54,817,000	$51,827,000	$50,840,000
Accounts Payable	$13,834,000	$20,791,000	$20,997,000	$39,991,000
Equity
Common Stock Equity	$1,800,224,000	$1,912,428,000	$1,938,963,000	$1,947,884,000
Preferred Stock Equity	$47,780,000	$23,632,000	$14,009,000	$14,009,000
Total Equity Gross Minority Interest	$1,848,004,000	$1,936,060,000	$1,952,972,000	$1,961,893,000
Stockholders Equity	$1,848,004,000	$1,936,060,000	$1,952,972,000	$1,961,893,000
Retained Earnings	$-312,988,000	$-211,713,000	$-156,854,000	$-117,392,000
Other
Preferred Shares Number	$2,019,525	$1,002,673	$600,000	$600,000
Ordinary Shares Number	$28,022,975	$28,331,833	$28,140,891	$27,972,830
Share Issued	$28,022,975	$28,331,833	$28,140,891	$27,972,830
Tangible Book Value	$1,793,858,000	$1,905,043,000	$1,930,718,000	$1,938,779,000
Invested Capital	$2,193,326,000	$2,210,293,000	$2,239,843,000	$2,249,379,000
Working Capital	$-54,664,000	$36,261,000	$31,517,000	$-42,954,000
Total Capitalization	$2,138,606,000	$2,233,925,000	$2,253,852,000	$2,263,388,000
Additional Paid In Capital	$2,113,184,000	$2,124,113,000	$2,095,789,000	$2,065,248,000
Capital Stock	$47,808,000	$23,660,000	$14,037,000	$14,037,000
Common Stock	$28,000	$28,000	$28,000	$28,000
Preferred Stock	$47,780,000	$23,632,000	$14,009,000	$14,009,000
Current Deferred Revenue	$50,307,000	$57,176,000	$59,358,000	$58,716,000
Line Of Credit	$102,500,000	$0	-	-
Investments And Advances	$47,430,000	$5,000,000	$21,948,000	$200,935,000
Other Investments	$0	$5,000,000	-	-
Available For Sale Securities	$47,430,000	-	-	-
Investment Properties	$2,113,448,000	$2,168,782,000	$2,165,823,000	$2,066,282,000
Net PPE	$509,000	$946,000	$1,355,000	$1,739,000
Gross PPE	$509,000	$946,000	$1,355,000	$1,739,000
Buildings And Improvements	$509,000	$946,000	$1,355,000	$1,739,000
Properties	$0	$0	$0	$0
Other Properties	-	-	-	$1,739,000

Fetched: 2026-06-24

Cash Flow Statement (Annual)

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Free Cash Flow
Free Cash Flow	$198,189,000	$258,446,000	$255,543,000	$234,130,000
Operating Activities
Operating Cash Flow	$198,189,000	$258,446,000	$255,543,000	$234,130,000
Cash Flow From Continuing Operating Activities	$198,189,000	$258,446,000	$255,543,000	$234,130,000
Operating Gains Losses	$326,000	$3,449,000	$-22,000	$-3,476,000
Investing Activities
Investing Cash Flow	$-174,301,000	$-55,996,000	$-6,788,000	$-396,201,000
Cash Flow From Continuing Investing Activities	$-174,301,000	$-55,996,000	$-6,788,000	$-396,201,000
Net Other Investing Changes	-	$-800,000	$-3,979,000	$-21,933,000
Financing Activities
Repurchase Of Capital Stock	$-20,108,000	$0	$0	-
Issuance Of Capital Stock	$24,148,000	$21,380,000	$9,564,000	$351,960,000
Financing Cash Flow	$-122,536,000	$-197,904,000	$-195,628,000	$164,224,000
Cash Flow From Continuing Financing Activities	$-122,536,000	$-197,904,000	$-195,628,000	$164,224,000
Net Other Financing Charges	$-864,000	$-1,317,000	$-1,129,000	$-2,441,000
Cash Dividends Paid	$-219,515,000	$-213,531,000	$-204,063,000	$-185,295,000
Preferred Stock Dividend Paid	$-3,240,000	$-1,578,000	$-1,352,000	$-1,352,000
Common Stock Dividend Paid	$-216,275,000	$-211,953,000	$-202,711,000	$-183,943,000
Net Preferred Stock Issuance	$24,148,000	$9,623,000	$0	$0
Preferred Stock Issuance	$24,148,000	$9,623,000	$0	$0
Net Common Stock Issuance	$-20,108,000	$11,757,000	$9,564,000	$351,960,000
Common Stock Issuance	$0	$11,757,000	$9,564,000	$351,960,000
Other
Repayment Of Debt	$-61,197,000	$-4,436,000	$0	$0
Issuance Of Debt	$155,000,000	$0	$0	$0
Interest Paid Supplemental Data	$17,412,000	$16,051,000	$16,125,000	$17,247,000
End Cash Position	$47,597,000	$146,245,000	$141,699,000	$88,572,000
Beginning Cash Position	$146,245,000	$141,699,000	$88,572,000	$86,419,000
Changes In Cash	$-98,648,000	$4,546,000	$53,127,000	$2,153,000
Common Stock Payments	$-20,108,000	$0	$0	-
Net Issuance Payments Of Debt	$93,803,000	$-4,436,000	$0	$0
Net Long Term Debt Issuance	$93,803,000	$-4,436,000	$0	$0
Long Term Debt Payments	$-61,197,000	$-4,436,000	$0	$0
Long Term Debt Issuance	$155,000,000	$0	$0	$0
Net Investment Purchase And Sale	$-145,251,000	$17,454,000	$182,185,000	$126,200,000
Sale Of Investment	$10,258,000	$62,564,000	$294,057,000	$515,000,000
Purchase Of Investment	$-155,509,000	$-45,110,000	$-111,872,000	$-388,800,000
Net Investment Properties Purchase And Sale	$-29,050,000	$-72,650,000	$-184,994,000	$-500,468,000
Sale Of Investment Properties	$2,239,000	$9,100,000	$0	$23,500,000
Purchase Of Investment Properties	$-31,289,000	$-81,750,000	$-184,994,000	$-523,968,000
Change In Working Capital	$-9,009,000	$3,946,000	$4,918,000	$5,122,000
Change In Other Working Capital	$-6,869,000	$-2,182,000	$642,000	$5,911,000
Change In Other Current Assets	$-1,286,000	$126,000	$352,000	$-3,506,000
Change In Payables And Accrued Expense	$-854,000	$6,002,000	$3,924,000	$2,717,000
Change In Payable	$-854,000	$6,002,000	$3,924,000	$2,717,000
Change In Account Payable	$-854,000	$6,002,000	$3,924,000	$2,717,000
Other Non Cash Items	$898,000	$1,772,000	$1,482,000	$1,534,000
Stock Based Compensation	$10,132,000	$17,317,000	$19,581,000	$17,507,000
Asset Impairment Charge	$3,527,000	$0	$0	-
Amortization Of Securities	$0	$-506,000	$-3,198,000	$-2,246,000
Depreciation Amortization Depletion	$74,068,000	$70,807,000	$67,194,000	$61,303,000
Depreciation And Amortization	$74,068,000	$70,807,000	$67,194,000	$61,303,000
Gain Loss On Investment Securities	$326,000	$3,449,000	-	$-3,601,000
Net Foreign Currency Exchange Gain Loss	$0	$0	$-22,000	$125,000
Net Income From Continuing Operations	$118,247,000	$161,661,000	$165,588,000	$154,386,000

Fetched: 2026-06-24