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Innovative Industrial Properties, Inc. IIPR R2KR3K

Real Estate · REIT - Industrial · United States
https://www.innovativeindustrialproperties.com
Company Profile ↓
$57.20
+20.70% 1Y
Mkt Cap$1.66B
P/E12.94
P/B0.95
Div. Yield13.02%
52W High$64.67
52W Low$40.04
Book Value$62.48
EPS (TTM)$4.42

Company Overview

Innovative Industrial Properties, Inc. is an internally managed real estate investment trust focused on the acquisition, ownership and management of specialized industrial properties and financial investments in the life science industry. As of June 30, 2026, we owned 108 properties comprising an aggregate of approximately 8.4 million rentable square feet in 19 states. Innovative Industrial Properties, Inc. was established on June 15th 2016 and is incorporated in Maryland.

Why Investors Should Care

Consistent Profit Growth

Net profit has compounded at 12.5% per year over the last five years.

Steady Revenue Expansion

Revenue has grown at a 59.3% CAGR over the past five years.

Reasonable Valuation

Trades at a P/E of 12.9, below the sector median of 24.4.

Healthy Margins

Maintains a net profit margin of 52.3%.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.33.

Dividend Income

Offers a dividend yield of 13.02%.

Recent Developments

  • Dec 2025 Revenue of $265.95M (-13.8% YoY); net profit $118.25M.
  • Trailing 12 Months Year-on-year growth — revenue +0.7%, earnings +58.1%.
  • 5-Year Trend Long-term compounding — revenue CAGR 59.3%, profit CAGR 12.5%.

Growth & Price Performance

Compounded Sales Growth

5 Years:59.28%
1 Year:0.70%

Compounded Profit Growth

5 Years:12.46%
1 Year:58.10%

Stock Price Performance

1 Year:+20.70%
6 Months:+12.68%
3 Months:+0.70%
1 Month:-1.97%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Mixed
52-Week Range 70% of range
$40.04 $64.67
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMAAbove
  • RSI (14)47.33 · Neutral
Price Performance
1M-1.97%
3M+0.70%
6M+12.68%
1Y+20.70%
Valuation vs Sector

P/E of 12.94 is below the sector median of 24.38 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

Robinhood TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Excellent profit margin of 52.3%.
  • Compounding revenue at 59.3% over 5 years.
  • Profit CAGR of 12.5% over 5 years.
  • Attractive dividend yield of 13.02%.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
12.94
Industry PE
24.38
Forward P/E
11.94
PEG Ratio
-
Book Value
$62.48
Price to Book
0.95
P/S
6.51
EV/EBITDA
10.82
Dividend Yield
13.02%

Growth (CAGR)

Revenue 5Y
59.28%
Profit 5Y
12.46%
Revenue (YoY)
0.70%
Earnings (YoY)
58.10%

Profitability & Returns

ROCE
5.77%
ROE
7.39%
ROA
3.21%
Profit Margin
52.27%
Op Margin
46.75%
Gross Margin
88.36%
EPS (Latest Qtr)
$1.36
EPS (TTM)
$4.42

Balance Sheet & Liquidity

Debt/Equity
0.33
Quick Ratio
3.17
Current Ratio
4.32
Debt
$609.03M
Total Assets
$2.58B
Current Assets
$166.89M
Working Capital
$-54.66M

Ownership

Promoter Holding
1.97%
Chg in Prom Hold
0.10%
FII / Inst Holding
78.43%
Chg in FII Hold
-0.05%

Financial Snapshot

Enterprise Value
$1.66B
Total Revenue (TTM)
$263.65M
EBITDA
$200.05M
Free Cash Flow
-
Operating Cash Flow
$198.19M
Shares Outstanding
29.00M
Gross Margin
88.36%
Payout Ratio
171.95%

Peer comparison

Peer companies in the same sector (Real Estate).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 IIPR Innovative Industrial Properties, Inc. R2KR3K 57.20 12.94 $1.66B 13.02% 5.77% 7.39% 59.28% 12.46%
2 WELL Welltower Inc. SPXR3K 236.17 106.38 $170.18B 1.44% 0.54% 3.84% 22.26% 11.10%
3 PLD Prologis, Inc. SPXR3K 137.34 30.59 $130.52B 3.08% - 7.75% 16.83% 39.42%
4 EQIX Equinix, Inc. SPXR3K 1,035.98 66.49 $102.22B 1.96% 5.42% 10.73% 17.43% 17.11%
5 AMT American Tower Corporation SPXR3K 175.85 28.36 $81.94B 4.08% 8.76% 33.91% 12.41% 25.08%
6 DLR Digital Realty Trust, Inc. SPXR3K 188.39 241.53 $69.71B 2.44% - 2.91% 15.18% 18.41%
7 SPG Simon Property Group, Inc. SPXR3K 209.44 14.57 $67.92B 3.97% - 113.59% 3.14% 14.02%
8 O Realty Income Corporation SPXR3K 61.25 44.71 $57.95B 5.21% - 3.23% 24.73% 13.04%
9 PSA Public Storage SPXR3K 302.01 28.74 $56.40B 3.67% - 21.93% 5.67% 7.85%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Mar 2017Jun 2017Sep 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Mar 2025Jun 2025Sep 2025Mar 2026Jun 2026
Revenue -1.29M1.56M2.76M3.31M3.93M4.78M6.82M8.62M11.55M17.67M21.13M24.35M34.33M37.09M42.88M48.87M53.86M64.50M70.51M70.88M76.07M76.46M77.83M75.45M79.79M76.53M71.72M62.89M64.69M69.00M63.31M
Operating Income -626.00K-465.00K295.00K724.00K1.24M1.57M1.81M3.44M4.07M6.82M10.60M12.28M14.18M20.42M22.86M27.68M32.94M36.29M39.88M44.14M41.36M43.36M43.42M43.85M42.03M42.35M41.96M33.96M28.90M29.41M32.91M41.45M
Net Income -591.00K-422.00K334.00K945.00K1.54M1.83M2.67M3.64M3.41M6.52M9.90M11.87M13.31M19.21M21.33M25.93M29.34M30.09M35.05M40.21M37.62M41.09M41.27M41.59M39.43M41.99M40.22M31.08M26.02M29.30M32.81M43.85M
Diluted EPS -0.18-0.130.090.090.170.210.240.330.300.550.780.720.730.860.911.051.171.201.321.421.321.431.441.451.361.441.371.030.860.971.021.36

Profit & Loss (Annual)

Figures in USD.

Metric Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue 6.42M14.79M44.67M116.90M204.55M276.36M309.51M308.52M265.95M
Operating Income -223.00K5.34M24.93M69.74M135.37M169.62M174.59M168.34M124.12M
Net Income -72.00K6.99M23.48M65.73M113.99M154.39M165.59M161.66M118.25M
Diluted EPS -0.130.752.033.274.555.525.775.523.93

Balance Sheet (Annual)

Figures in USD.

Metric Jun 2016Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets -63.33M80.03M281.47M745.86M1.77B-2.41B2.39B2.38B2.37B
Current Assets -------106.59M163.70M169.04M166.89M
Cash & Equivalents 033.00M11.76M13.05M82.24M126.01M-87.12M140.25M146.25M47.60M
Inventory -----------
Receivables -------18.02M22.00M22.80M119.29M
Total Liabilities -2.89M6.48M17.17M197.85M243.11M-452.94M438.12M441.99M522.85M
Current Liabilities -------149.55M132.18M132.78M221.55M
Long Term Debt ----134.65M--301.50M300.88M297.87M290.60M
Total Debt -------301.50M300.88M297.87M393.10M
Total Equity 060.44M73.55M264.29M548.01M1.52B-1.96B1.95B1.94B1.85B
Shares Outstanding -------27.97M28.14M28.33M28.02M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow 5.01M15.69M44.93M110.81M188.75M234.13M255.54M258.45M198.19M
Investing Cash Flow -38.65M-199.25M-340.63M-1.03B-384.09M-396.20M-6.79M-56.00M-174.30M
Financing Cash Flow 12.38M184.85M399.96M924.99M155.76M164.22M-195.63M-197.90M-122.54M
Share Buybacks 0-----0020.11M

Ratios (Annual)

Figures in %.

Metric Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % ---------
Operating Margin % -3.5%36.1%55.8%59.7%66.2%61.4%56.4%54.6%46.7%
Net Margin % -1.1%47.2%52.6%56.2%55.7%55.9%53.5%52.4%44.5%
ROE % -0.1%2.6%4.3%4.3%-7.9%8.5%8.3%6.4%
ROCE % -----7.5%7.7%7.5%5.8%

Shareholding Pattern

Insiders
1.97%
Institutions
78.43%
Public Float
80.01%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 18.13% 5.00M $281.41M
2 Vanguard Portfolio Management LLC 10.22% 2.82M $158.74M
3 State Street Corporation 5.91% 1.63M $91.72M
4 Vanguard Capital Management LLC 4.69% 1.29M $72.79M
5 Charles Schwab Investment Management, Inc. 2.35% 648.60K $36.52M
6 Arrowstreet Capital, Limited Partnership 2.05% 564.30K $31.78M
7 Mirae Asset Global ETFs Holdings Ltd. 1.90% 524.19K $29.52M
8 Invesco Ltd. 1.80% 497.46K $28.01M
9 Northern Trust Corporation 1.44% 396.00K $22.30M
10 Dimensional Fund Advisors LP 1.32% 364.78K $20.54M

Analyst View

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Latest News

Recent headlines for IIPR

Google News Sat, 05 Sep 2026

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

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Google News ue, 21 Jul 2026

Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: Here's Why - Yahoo Finance

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Google News Fri, 04 Sep 2026

What Innovative Industrial Properties (IIPR)'s AFFO Beat and Debt Refinance Moves Mean For Shareholders - simplywall.st

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Google News Mon, 07 Sep 2026

Public Employees Retirement System of Ohio Makes New $2.02 Million Investment in Innovative Industrial Properties, Inc. $IIPR - marketbeat.com

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Google News Mon, 07 Sep 2026

Innovative Industrial Properties (NYSE:IIPR): What’s the Next Market Test? - Kalkine Media

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Google News ue, 01 Sep 2026

Director at Innovative Industrial (NYSE: IIPR) buys 528 shares at $56.70 - Stock Titan

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IIPR — Frequently Asked Questions

What is the current share price of Innovative Industrial Properties, Inc. (IIPR)?

As of 2026-09-07 16:24 PDT, Innovative Industrial Properties, Inc. (IIPR) trades at $57.20 on NYSE. Its 52-week range is $40.04 to $64.67.

What is the market capitalisation of IIPR?

Innovative Industrial Properties, Inc. (IIPR) has a market capitalisation of $1.66B on NYSE.

What is the P/E ratio of IIPR?

IIPR trades at a trailing price-to-earnings (P/E) ratio of 12.94. The industry average P/E is 24.38. Its price-to-book (P/B) ratio is 0.95.

Does IIPR pay a dividend?

Innovative Industrial Properties, Inc. (IIPR) currently offers a dividend yield of 13.02%.

What is the return on equity (ROE) of IIPR?

IIPR has a return on equity (ROE) of 7.39%. Its return on capital employed (ROCE) is 5.77%.

Is IIPR a good stock to buy?

This page provides a data-driven analysis of Innovative Industrial Properties, Inc. (IIPR), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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