Innovative Industrial Properties, Inc. (IIPR)

NYSE: IIPR · USD

$52.9

-0.08 (-0.1%)· Recorded snapshot

Market cap	1.5B
Revenue (ttm)	263.7M
Net income (ttm)	126.2M
EPS (ttm)	$4.43
Shares out	27.6M
P/E (trailing)	12.0x
P/E (forward)	13.6x
Dividend	$7.60 (14.36%)
Volume	135,680
Beta	1.42

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 263.7M
Net income (ttm): 126.2M
EPS (ttm): $4.43
P/E (trailing): 12.0x
P/E (forward): 13.6x
Market cap: 1.5B

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AMT	American Tower Corporation	85.1B	25.8x	7.5x	7.8%	+4.0%	+0.7%	减持
ARE	Alexandria Real Estate Equities Inc.	6.9B	—	2.4x	0.9%	+6.6%	-45.8%	持有
CCI	Crown Castle Inc.	37.4B	46.3x	9.1x	5.1%	-7.9%	-6.2%	卖出

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E13.6

P25 n/aP50 n/aP75 n/a

Trailing P/E12

P25 n/aP50 n/aP75 n/a

ROE7.4

P25 n/aP50 n/aP75 n/a

ROIC3.5

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All IIPR indicators

Market & fundamental data

Available fields

253

Groups with data

Currency

USD

Showing 253 of 253 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001677576
Company name	Innovative Industrial Properties, Inc.
Country	United States
Country code	US
CUSIP number	45781V101
Earnings date	2026-11-02
Earnings time	amc
Employees	24
Employees change	1
Employees growth	4.35%
Enterprise value	$1.9B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	2016
In index	RUSSELL2000
Industry	REIT - Industrial
IPO date	2016-12-01
Is primary listing	Yes
Is SPAC	No
ISIN number	US45781V1017
Last 10-K release date	2026-02-24
Last earnings date	2026-08-03
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$1.5B
Market cap category	Small-Cap
Next earnings date	2026-11-02
Options	Yes
Price	$52.88
Price currency	USD
Sector	Real Estate
SIC code	6500
Stock price date	2026-10-28
Symbol	IIPR
U.S. state	California
Website	https://www.innovativeindustrialproperties.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	13.1x
Average P/E ratio (10Y)	47.11x
Average P/E ratio (3Y)	14.75x
Average P/E ratio (5Y)	20.78x
Earnings yield	8.37%
EV/Earnings	14.77x
EV/EBIT	14.55x
EV/EBITDA	9.2x
EV/FCF	10.02x
EV/Sales	7.07x
FCF / EV yield	9.98%
FCF yield	12.74%
Forward EV/Sales	7.5x
Forward P/E	13.56x
Forward P/S	5.87x
Graham number	78.87041
Graham upside	49.01%
Industry forward P/E	35.87x
Industry P/E	36.68x
Lynch fair value	$26.93
Lynch upside	-49.13%
P/(FCF - SBC) ratio	8.33x
P/(OCF - SBC) ratio	7.86x
P/B ratio	0.85x
P/E ratio	11.95x
P/FCF ratio	7.85x
P/FFO ratio	7.85x
P/OCF ratio	7.43x
P/S ratio	5.54x
Price / tangible book value	0.85x
Price/EBITDA ratio	7.2x
Sector forward P/E	29.99x
Sector P/E	40.99x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	48.57%
EBITDA margin	76.85%
FCF margin	70.54%
Gross margin	88.35%
Operating margin	48.57%
Pretax margin	52.27%
Profit margin	52.27%
Profit per employee	$5.3M
Profitable quarters	36
Profitable years	8
Revenue per employee	$11M
ROA	3.28%
ROA (5Y)	4.33%
ROCE	5.09%
ROE	7.39%
ROE (5Y)	7.79%
ROIC	3.46%
SBC / revenue	4.09%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-4.51%
EPS growth (Q)	57.66%
EPS growth (QoQ)	32.93%
EPS growth 3Y	-7.8%
EPS growth 5Y	1.9%
EPS growth quarters	1
EPS growth years	0
Net income growth	0.34%
Net income growth (Q)	68.51%
Net income growth (QoQ)	35.46%
Net income growth 3Y	-7.41%
Net income growth 5Y	6.08%
Net income growth quarters	1
Net income growth years	0
OCF growth	-12.83%
OCF growth (Q)	-7.29%
OCF growth (QoQ)	-19.84%
OCF growth 3Y	-6.27%
OCF growth 5Y	4.57%
Revenue growth	-8.42%
Revenue growth (Q)	0.67%
Revenue growth (QoQ)	-8.23%
Revenue growth 3Y	-3.55%
Revenue growth 5Y	10.07%
Revenue growth quarters	1
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-10.5M
Depreciation and amortization	$74.6M
EBIT	$128M
EBITDA	$202.6M
EPS	$4.43
FCF per share	$6.75
Financing cash flow	$141.3M
Free cash flow	$186M
Free cash flow minus SBC	$175.2M
Funds from operations (FFO)	$192.4M
Gross profit	$233M
Investing cash flow	$-229.8M
Net cash flow	$108M
Net income	$126.2M
Operating cash flow minus SBC	$185.7M
Operating income	$128M
Revenue	$263.7M
Stock-based compensation	$10.8M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$62.48
Debt / EBITDA	3.01
Debt / equity	0.33
Debt / FCF	3.27
Interest coverage	4.92
Net cash (debt)	$-404.3M
Net cash / market cap	-27.7%
Net debt / EBITDA	2
Net debt / equity	0.22
Net debt / FCF	2.17
Piotroski F-Score	5
Property, plant and equipment	$2B
Shareholders' equity	$1.9B
Tangible book value	$1.7B
Tangible book value per share	$62.28
Total assets	$2.6B
Total cash	$204.7M
Total debt	$609M
Total liabilities	$730M
WACC	9.5%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.11
Current ratio	4.58
Net working capital	$26.8M
Quick ratio	3.17
Working capital	$231.6M

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.97%
Dividend growth	0%
Dividend growth (3Y)	1.82%
Dividend growth (5Y)	6.84%
Dividend growth years	8
Dividend payment date	2026-10-15
Dividend payment years	10
Dividend payout frequency	Quarterly
Dividend per share	$7.60
Dividend yield	14.36%
Ex-dividend date	2026-09-30
FCF payout ratio	112.68%
Last dividend	$1.90
Payout ratio	171.75%
Shareholder yield	13.38%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
150-day SMA	$56.54
1D price change	-0.15%
1M price change	-4.92%
1M total return	-1.48%
1W price change	0.04%
1W total return	0.04%
1Y price change	-0.62%
1Y return CAGR	14.67%
1Y total return	14.66%
20-day SMA	$52.11
200-day SMA	$55.03
3M price change	-14.05%
3M total return	-10.95%
3Y price change	-24.57%
3Y return CAGR	1.88%
3Y total return	5.74%
50-day SMA	$54.57
50-day SMA vs 200-day SMA	50under200
52-week high	$65.38
52-week high date	2026-07-16
52-week low	$44.58
52-week low date	2025-11-20
5Y price change	-79.27%
5Y return CAGR	-19.7%
5Y total return	-66.61%
6M price change	-5.33%
6M total return	1.13%
All-time high	$288.02
All-time high date	2021-11-16
All-time low	$14.50
All-time low date	2016-12-05
Average true range (ATR)	$1.25
Average volume	348.8K
Beta (1Y)	0.2
Beta (2Y)	0.58
Beta (5Y)	1.42
Change from 52-week high	-19.12%
Change from 52-week low	18.62%
Change from all-time high	-81.67%
Change from all-time low	264.07%
Change from open	0.09%
Day's gap	-0.25%
Dollar volume	$7.2M
High price	$53.13
Low price	$52.70
Monthly RSI	39.96
Open price	$52.83
Position in 52-week range	41.86%
Premarket change	0%
Premarket close	$52.96
Premarket price	$52.96
Previous close	$52.96
Price vs 150-day SMA	-6.64%
Price vs 20-day SMA	1.3%
Price vs 200-day SMA	-4.07%
Price vs 50-day SMA	-3.26%
Relative volume	0.39
RSI	46.92
Sharpe ratio	0.44
Sharpe ratio (3Y)	0.13
Sharpe ratio (5Y)	-0.41
Sortino ratio	0.93
Sortino ratio (3Y)	0.32
Sortino ratio (5Y)	-0.43
Volume	135.7K
Weekly RSI	43.82
YTD price change	11.47%
YTD total return	23.7%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	27M
Float percentage	97.9%
Shares change (QoQ)	5.36%
Shares change (YoY)	0.97%
Shares held by insiders	2.1%
Shares held by institutions	77.18%
Shares outstanding	27.6M
Short % of float	13.19%
Short % of shares	12.91%
Short ratio	7.6 days

Deeper analysis on IIPR

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

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Risks

Kill scenarios, soft-pass flags, and downside catalysts.

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Earnings

Next earnings setup and beat / inline / miss thresholds.

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Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

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Financials

Revenue, margins, cash flow, and balance-sheet context.

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Peers

Relative valuation and profitability against the cohort.

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Moat

Economic-profit evidence and competitive advantage risk.

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Industry cycle

Sector phase, capital cycle, and secular tailwinds.

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Frequently asked questions

About this IIPR report

Is a complete IIPR research report available?

No complete published report is available for Innovative Industrial Properties, Inc. (IIPR) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

Innovative Industrial Properties, Inc. (IIPR)

Price

Financial snapshot

Fair-value bridge

Latest news · IIPR

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All IIPR indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on IIPR

Frequently asked questions