I

    Innovative Industrial Properties Inc (IIPR)

    Official site

    REAL ESTATE • REIT - INDUSTRIAL • NYSE

    $56.91
    +0.60 (+1.06%)

    Market Cap: $1.55B

    Last updated: Sep 01, 2026 at 10:00 AM ET

    Earnings

    Performance (10Y)

    Beat Rate
    59%(23/39)
    Avg Surprise
    -204.12%
    Streak
    1 Q

    Upcoming Estimates

    Sep 30, 2026
    EPS Consensus$0.83
    Range$0.83 - $0.83
    1 analysts
    EPS RevisionsNo revisions (7d)No revisions (30d)
    EPS Estimate Drift
    90d ago$1.09+31.9%
    60d ago$1.09+31.9%
    30d ago$1.09+31.9%
    7d ago$0.83+0.0%
    Current$0.83
    Revenue Consensus
    $62M
    Range$59M - $65M
    4 analysts
    Dec 31, 2026
    EPS Consensus$1.22
    Range$1.22 - $1.22
    1 analysts
    Revenue Consensus
    $61M
    Range$52M - $67M
    4 analysts
    PeriodReportedEst.SurpriseB/MYoY
    Dec 26EST
    		-$1.22---
    Sep 26EST
    		-$0.83---
    Jun 26
    		$1.83$1.69+8.28%Beat+112.8%
    Mar 26
    		$1.04$1.07-2.80%Miss+1.0%
    Dec 25
    		$1.06$0.99+7.07%Beat-22.1%
    Sep 25
    		$0.97$0.90+7.78%Beat-29.2%
    Jun 25
    		$0.86$0.91-5.49%Miss-40.3%
    Mar 25
    		$1.03$1.17-11.97%Miss-24.3%
    Dec 24
    		$1.36$1.36+0.00%Beat-6.2%
    Sep 24
    		$1.37$1.45-5.52%Miss-5.5%
    Jun 24
    		$1.44$1.30+10.77%Beat+0.0%
    Mar 24
    		$1.36$1.43-4.90%Miss-4.9%
    Dec 23
    		$1.45$1.41+2.84%Beat+9.0%
    Sep 23
    		$1.45$1.42+2.11%Beat+9.8%
    Jun 23
    		$1.44$1.40+2.86%Beat+1.4%
    Mar 23
    		$1.43$1.31+9.16%Beat+8.3%
    Dec 22
    		$1.33$1.29+3.10%Beat+16.7%
    Sep 22
    		$1.32$1.30+1.54%Beat+10.0%
    Jun 22
    		$1.42$1.36+4.41%Beat+21.4%
    Mar 22
    		$1.32$1.36-2.94%Miss+25.7%
    Dec 21
    		$1.14$1.25-8.80%Miss+25.3%
    Sep 21
    		$1.20$1.16+3.45%Beat+39.5%
    Jun 21
    		$1.17$1.11+5.41%Beat+60.3%
    Mar 21
    		$1.05$0.97+8.25%Beat+45.8%
    Dec 20
    		$0.91$1.07-14.95%Miss+16.7%
    Sep 20
    		$0.86$0.81+6.17%Beat+56.4%
    Jun 20
    		$0.73$0.75-2.67%Miss+143.3%
    Mar 20
    		$0.72$0.73-1.37%Miss+118.2%
    Dec 19
    		$0.78$0.57+36.84%Beat+225.0%
    Sep 19
    		$0.55$0.47+17.02%Beat+161.9%
    Jun 19
    		$0.30$0.30+0.00%Beat+76.5%
    Mar 19
    		$0.33$0.33+0.00%Beat+266.7%
    Dec 18
    		$0.24$0.23+4.35%Beat+242.9%
    Sep 18
    		$0.21$0.22-4.55%Miss+133.3%
    Jun 18
    		$0.17$0.09+88.89%Beat+230.8%
    Mar 18
    		$0.09$0.18-50.00%Miss+150.0%
    Dec 17
    		$0.07$0.14-50.00%Miss+102.5%
    Sep 17
    		$0.09$0.04+125.00%Beat-
    Jun 17
    		$-0.13$0.02-750.00%Miss-
    Mar 17
    		$-0.18$0.01-1900.00%Miss-
    Dec 16
    		$-2.80$-0.05-5500.00%Miss-

    Dividends

    Dividend Metrics

    Yield13.36%
    Annual/Share$7.60
    Payout Ratio110.04%
    Frequency4
    Pay MonthsJan, Apr, Jul, Oct

    Growth

    3Y CAGR+2.29%
    5Y CAGR+11.20%
    View IIPR's full dividend history

    Key Metrics

    Valuation
    P/E Ratio11.61EV/EBITDA8.82x
    Price/FCF8.70xFCF Yield11.49%
    Profitability
    Profit Margin52.30%Operating Margin48.80%
    ROE7.39%ROIC5.26%
    Financial Health
    Debt/Equity0.33xInterest CoverageN/A
    Current RatioN/AQuick RatioN/A
    Trading Statistics
    Beta1.40Avg Volume322.92K
    52-Week High$65.3852-Week Low$40.04

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$56.59
    SMA 20$57.22
    SMA 50$59.96
    SMA 200$51.95
    EMA 10$56.83
    EMA 20$57.47
    EMA 50$58.21
    EMA 200$54.18

    MACD

    Line: -0.90Signal: -1.01Hist: 0.11

    ADX

    ADX: 45.1+DI: 9.1-DI: 25.2

    Aroon & PSAR

    Aroon UpN/A
    Aroon Down64.0
    PSAR$55.11

    Bollinger Bands

    Upper Band$59.66
    Lower Band$54.77
    %B Position856%(Upper)
    Band Width0.44

    RSI (14-Day)

    Neutral
    43.9

    Momentum Oscillators

    Stoch %K46.6
    Stoch %D47.3
    Williams %R-44.0
    ROC (10d)2.0%
    Momentum1.10
    CCI (20d)-38.4
    MFI (14d)41.4

    Volatility Measures

    ATR (14d)$1.43(2.5%)
    StdDev (20d)1.22
    Hist Vol25.4%(Moderate)

    Volume Flow

    VWAP$56.73
    OBV-4.2M
    AD Line-786.6M
    CMF (20d)-0.092

    Volume Metrics

    Avg Vol (20d)320.7K
    Vol Ratio1.7x(High)
    VWMA (20d)$57.26

    Pivot Points

    R3$57.67
    R2$57.40
    R1$56.86
    Pivot Point$56.58
    S1$56.04
    S2$55.76
    S3$55.22

    Advanced Oscillators

    TSI-19.19
    Ultimate Osc41.1
    KST-73.81

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$74.07M$75.33M$73.38M$69.10M$64.46M$73.33M$79.30M$79.21M$83.76M$77.24M$85.50M$79.90M
    Cost of RevenueN/A$44.74M$45.06M$7.95M$6.87M$7.38M$7.61M$7.29M$6.86M$6.71M$7.19M$6.32M
    Gross ProfitN/A$24.25M$21.60M$56.73M$56.02M$64.34M$69.14M$69.23M$72.93M$68.75M$71.96M$71.51M
    Operating Expenses$21.87M$36.09M$34.81M$35.27M$33.99M$37.76M$34.74M$34.57M$37.45M$33.42M$35.20M$33.98M
    R&D$0$0$0$0$0$0$0$0$0$0$0$0
    SG&A$0$0$0$0$0$0$0$0$0$0$0$0
    Operating IncomeN/A$32.49M$32.17M$29.41M$28.90M$33.96M$42.01M$41.96M$42.35M$42.03M$43.96M$43.85M
    Interest Income$10.75M$6.33M$6.72M$4.42M$1.57M$1.61M$2.55M$2.69M$3.97M$1.78M$1.82M$2.08M
    Interest Expense$0$0$6.73M$0$0$0$3.12M$0$0$0$-4,520,000$0
    Income Before Tax$52.20M$39.24M$38.57M$33.83M$30.47M$35.58M$44.56M$44.64M$46.31M$43.82M$50.30M$45.92M
    Income Tax Expense$0$0$0$0$0$0$0$0$0$0$0$0
    Net Income$43.85M$32.81M$31.84M$29.30M$26.02M$31.08M$40.02M$40.22M$41.99M$39.43M$41.63M$41.59M
    EBITDA$72.21M$58.40M$57.67M$52.95M$49.44M$54.44M$63.25M$62.75M$64.12M$61.19M$67.44M$62.67M
    EBIT$52.20M$39.24M$38.57M$33.83M$30.47M$35.58M$44.56M$44.64M$46.31M$43.82M$50.30M$45.92M
    * Some calculated fields are derived from available data when not provided by source

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    News

    Innovative Industrial Properties (NYSE:IIPR) Gains Focus As Cannabis Rescheduling Advances

    Innovative Industrial Properties (IIPR) is gaining attention due to the potential rescheduling of cannabis to Schedule III, which would significantly alter federal regulations. As a specialized real estate investment trust for the cannabis industry, IIPR's business model of leasing industrial properties to cannabis operators is tied to the sector's regulatory health. This shift could ease financial constraints for cannabis businesses, benefiting IIPR and its tenants.

    Kalkine Media•8/24/26•
    Bullish

    Compass Financial Management LLC Acquires New Stake in Innovative Industrial Properties, Inc. $IIPR

    Compass Financial Management LLC has acquired a new stake of 72,193 shares, valued at $4.48 million, in Innovative Industrial Properties (IIPR) during the second quarter. Despite the company beating EPS estimates for its recent quarter, its revenue fell short of consensus forecasts. IIPR offers a significant 13.4% dividend yield, but analysts currently maintain a "Reduce" rating on the stock with a target price below its opening share price.

    MarketBeat•8/23/26•
    Neutral

    Mitsubishi UFJ Asset Management Co. Ltd. Takes $1.54 Million Position in Innovative Industrial Properties, Inc. $IIPR

    Mitsubishi UFJ Asset Management Co. Ltd. has acquired 24,803 shares of Innovative Industrial Properties (IIPR) for approximately $1.54 million during the second quarter. Despite analysts' "Reduce" rating and an elevated dividend payout ratio, the company beat EPS expectations for the quarter, reporting $1.36 against a $1.02 consensus. Innovative Industrial Properties is a REIT specializing in industrial properties for the regulated U.S. cannabis industry, with institutional investors holding a significant stake.

    MarketBeat•8/22/26•
    Somewhat-Bearish

    Should Upgraded Earnings Estimates and Oversold Trading in IIPR Require Action From Innovative Industrial Properties Investors?

    Innovative Industrial Properties (IIPR) has seen renewed investor interest due to eased selling pressure, upgraded earnings estimates, and an "oversold" trading status. While these factors improve sentiment, the core investment narrative still hinges on stabilizing cannabis tenant performance and sustained rent collection, alongside its new life sciences exposure. The company's Q2 2026 earnings showed stable revenue and higher net income, reinforcing profitability despite share price pullbacks.

    Sahm•8/21/26•
    Somewhat-Bullish

    Q2 2026 Innovative Industrial Properties Inc Earnings Call Transcript

    This article provides the transcript of Innovative Industrial Properties Inc.'s (IIPR.N) Q2 2026 Earnings Call. It highlights the company's financial performance, strategic achievements such as fully funding a commitment to IQHQ and completing new leases, and challenges including decreased revenues due to tenant defaults. The report also touches on industry-wide developments like federal cannabis reform and the state of the life science market.

    GuruFocus•8/18/26•
    Neutral

    Frequently Asked Questions About IIPR

    What is IIPR's current dividend yield?
    Innovative Industrial Properties Inc (IIPR) has a current dividend yield of 13.36%.
    Does IIPR pay dividends?
    Yes, Innovative Industrial Properties Inc pays dividends with a current yield of 13.36%.
    What is IIPR's P/E ratio?
    Innovative Industrial Properties Inc has a price-to-earnings (P/E) ratio of 11.61.
    What is IIPR's market cap?
    Innovative Industrial Properties Inc (IIPR) has a market capitalization of $1.55B with a current stock price of $56.91.

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