Companies /Real Estate

Innovative Industrial Properties Inc

NYSE: IIPR Reit - Industrial
$51.23
▲ $0.97 (+1.93%) today
Markets closed · 10:37pm ET

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IIPR at a Glance

Valuation
Market cap
$1.4B
P/E ratio
11.4
Dividend yield
15.00%
Profitability
Revenue (TTM)
$263.7M
Profit margin
52.3%
EPS (TTM)
$4.42
Price
52-week range
$39 – $63
Street target
$64.50
Earnings
Next report
Nov 2, 2026
Q2 2026 EPS
$1.36
vs. $1.03 est.
+32.7%

Headquartered in San Diego, CA Fiscal year ends December NYSE: IIPR innovativeindustrialproperties.com

About Innovative Industrial Properties

Innovative Industrial Properties, Inc. (NYSE: IIPR) is an internally managed real estate investment trust (REIT) focused on the acquisition, ownership, and management of specialized industrial properties and financial investments in the life science industry. The company's core business involves providing sale-leaseback capital to state-licensed cannabis operators through triple-net lease structures, typically with 15-20 year initial terms and annual rent escalators. As of June 30, 2026, IIP owned 108 properties comprising approximately 8.4 million rentable square feet across 19 U.S. states, leased to 37 tenants. The portfolio is composed of industrial facilities for regulated cannabis cultivation, processing, and distribution, as well as retail dispensary properties. IIP has been diversifying into the life sciences sector through a $270 million strategic investment in IQHQ, a private life science real estate platform with over $5 billion in total assets across major markets including Boston, San Francisco, and San Diego. Cannabis assets represent 87.6% and life sciences 12.2% of the company's $325 million in annualized base rent and income from loans and securities. IIP operates with conservative leverage (1.7x net debt to adjusted EBITDA) and has paid over $1.2 billion in common stock dividends since its inception in 2016. Updated

IIPR Coverage

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Frequently Asked Questions

What does Innovative Industrial Properties do?

Innovative Industrial Properties, Inc. (NYSE: IIPR) is an internally managed real estate investment trust (REIT) focused on the acquisition, ownership, and management of specialized industrial properties and financial investments in the life science industry.

What is the IIPR stock price target?

The Wall Street consensus 12-month price target for IIPR is $64.50.