IIPR Share Price | Innovative Industrial Properties, Inc. Stock Analysis & Recommendation

Q: How big is Innovative Industrial Properties, Inc.?

Market Cap: As of Jun 18, Innovative Industrial Properties, Inc. has a market capitalization of 1,593.00 million, categorizing it as a Small Cap company.Recent Quarterly Performance: For the latest four quarters, the company reported net sales of 304.78 million and a net profit of 150.85 million.Balance Sheet Snapshot: As of Dec 24, the company reported shareholder's funds of 1,936.06 million and total assets of 2,378.05 million.

Q: What does Innovative Industrial Properties, Inc. do?

Overview:Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership, and management of specialized industrial properties leased to state-licensed operators for regulated cannabis facilities, operating within the Realty industry and classified as a small-cap company.Financial Snapshot:Most recent Net Sales: 72 Million (Quarterly Results - Mar 2025) Most recent Net Profit: 30 Million (Quarterly Results - Mar 2025) Market-cap: USD 1,593.00 Million (Small Cap)Key Metrics:P/E: 10.00 Dividend Yield: 13.38% Debt Equity: -999,999.00 Return on Equity: 8.03% Price to Book: 0.83Contact Details:Address: 1389 Center Drive, Suite 200, PARK CITY UT : 84098 Tel: 1 858 9973332 Website: http://innovativeindustrialproperties.com/

Q: Is Innovative Industrial Properties, Inc. overvalued or undervalued?

As of 14 February 2025, the valuation grade for Innovative Industrial Properties, Inc. moved from expensive to very attractive, indicating a significant improvement in its perceived value. The company is currently undervalued, supported by a P/E ratio of 10, a Price to Book Value of 0.81, and an EV to EBITDA of 5.92. In comparison to its peers, Innovative Industrial Properties has a lower P/E ratio than National Health Investors, Inc. at 24.77 and is more favorable than SL Green Realty Corp., which has a P/E of 731.77. Additionally, the company's dividend yield of 13.75% stands out in the industry, suggesting a strong return for investors. Despite recent underperformance, with a 1Y return of -56.78% compared to the S&P 500's 17.14%, the current valuation metrics indicate that the stock is positioned for potential recovery.

Q: Is Innovative Industrial Properties, Inc. technically bullish or bearish?

As of 8 August 2025, the technical trend for Innovative Industrial Properties, Inc. has changed from bearish to mildly bearish. The weekly MACD and KST indicate a mildly bullish stance, while the monthly MACD and KST remain bearish. The RSI shows a bullish signal on the monthly timeframe but no signal on the weekly. Moving averages are mildly bearish on the daily, and Bollinger Bands reflect a bullish weekly but mildly bearish monthly outlook. Overall, the current technical stance is mildly bearish, driven primarily by the mixed signals from MACD and moving averages.In terms of performance, the stock has returned 11.89% over the past month, significantly outperforming the S&P 500's 2.33% return, but it has underperformed over longer periods, with a YTD return of -12.58% compared to the S&P 500's 12.22%.

Price Point

High/Low

1Day

52 Week

Valuation

Technical

Day's Volume

CASH

80.25 k

Shareholding (Dec 2025)

FII

7.61%

Held by 130 FIIs

DII

49.44%

Held by 47 DIIs

Promoter

0.02%

How big is Innovative Industrial Properties, Inc.?

22-Jun-2025

As of Jun 18, Innovative Industrial Properties, Inc. has a market capitalization of $1.593 billion, with net sales of $304.78 million and a net profit of $150.85 million over the latest four quarters.

View full answer

What does Innovative Industrial Properties, Inc. do?

22-Jun-2025

Innovative Industrial Properties, Inc. is a REIT that acquires and manages industrial properties leased to licensed cannabis operators. As of March 2025, it reported net sales of $72 million and a market cap of $1.593 billion.

View full answer

Who are in the management team of Innovative Industrial Properties, Inc.?

22-Jun-2025

As of March 2022, the management team of Innovative Industrial Properties, Inc. includes Executive Chairman Alan Gold, CEO Paul Smithers, Independent Vice Chairman Gary Kreitzer, and Independent Directors Mary Curran, Scott Shoemaker, and David Stecher. They oversee the company's strategic direction and operations.

View full answer

Is Innovative Industrial Properties, Inc. overvalued or undervalued?

20-Sep-2025

As of February 14, 2025, Innovative Industrial Properties, Inc. is considered very attractive due to its undervalued status, with a P/E ratio of 10, a Price to Book Value of 0.81, an EV to EBITDA of 5.92, and a high dividend yield of 13.75%, despite a recent 1Y return of -56.78%.

View full answer

Is Innovative Industrial Properties, Inc. technically bullish or bearish?

20-Sep-2025

As of August 8, 2025, Innovative Industrial Properties, Inc. shows a mildly bearish trend with mixed technical signals, having returned 11.89% over the past month, outperforming the S&P 500's 2.33%, but underperforming year-to-date with a -12.58% return compared to the S&P 500's 12.22%.

View full answer

Compare Innovative Industrial Properties, Inc. with Similar Stocks

Hannon Armstrong Sustainable Infrastructure Capital, Inc.Highwoods Properties, Inc.National Health Investors, Inc.

Score

Click here to find our call on this stock

Strong Sell

Sell

Hold

Buy

Strong Buy

Dashboard

Negative results in Jun 25

INTEREST COVERAGE RATIO(Q) Lowest at 1,066.56
OPERATING CASH FLOW(Y) Lowest at USD 225.62 MM
ROCE(HY) Lowest at 7.04%

Consistent Underperformance against the benchmark over the last 3 years

Mojo Parameters

Stock DNA

Industry

Realty

Market cap

USD 1,460 Million (Small Cap)

P/E

11.00

Industry P/E

Dividend Yield

14.60%

Debt Equity

-999,999.00

Return on Equity

6.82%

Price to Book

0.78

Revenue and Profits:

Net Sales:

67 Million

(Quarterly Results - Dec 2025)

Net Profit:

31 Million

Total Returns

Total Returns (Price + Dividend)

TimePeriod

Price Return

Dividend Return

Total Return

3 Months

2.89%

6 Months

-3.68%

1 Year

-21.03%

2 Years

-48.94%

3 Years

-30.91%

4 Years

-73.84%

5 Years

-69.71%

Innovative Industrial Properties, Inc. for the last several years.

Risk Adjusted Returns v/s

News & Corporate Actions

News

No Recent News for the Company

Announcements

No announcement available

Corporate Actions

No corporate action available

Key Factors

Quality key factors

Factor

Value

Sales Growth (5y)

23.14%

EBIT Growth (5y)

19.11%

EBIT to Interest (avg)

9.76

Debt to EBITDA (avg)

Negative Net Debt

Net Debt to Equity (avg)

Sales to Capital Employed (avg)

Tax Ratio

Dividend Payout Ratio

136.11%

Pledged Shares

Institutional Holding

81.47%

ROCE (avg)

10.18%

ROE (avg)

7.49%

Valuation key factors

Factor

Value

P/E Ratio

Industry P/E

Price to Book Value

0.78

EV to EBIT

10.29

EV to EBITDA

6.70

EV to Capital Employed

0.78

EV to Sales

5.14

PEG Ratio

Dividend Yield

14.60%

ROCE (Latest)

7.57%

ROE (Latest)

6.82%

Technicals key factors

Indicator

Weekly

Monthly

MACD

Mildly Bullish

RSI

No Signal

Bollinger Bands

Bullish

Bearish

Moving Averages

Mildly Bearish (Daily)

KST

Mildly Bullish

Bearish

Dow Theory

No Trend

Mildly Bullish

OBV

Mildly Bullish

Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned

Shareholding

Shareholding Snapshot : Dec 2025

Shareholding Compare (%holding)

Majority shareholders

Domestic Funds

Held in 75 Schemes (42.57%)

Foreign Institutions

Held by 130 Foreign Institutions (7.61%)

Strategic Entities with highest holding

Highest Public shareholder

Financial

[
  {
    "link": "quarterly",
    "btn_text": "All Quarterly Results",
    "header": "Quarterly Results Snapshot (Consolidated) - Dec'25 - QoQ",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": "QoQ Growth in quarter ended Dec 2025 is 3.09% vs 2.86% in Sep 2025",
        "dir": 1
      },
      {
        "prefix": "Consolidated Net Profit ",
        "suffix": "QoQ Growth in quarter ended Dec 2025 is 8.74% vs 13.04% in Sep 2025",
        "dir": -1
      }
    ],
    "table": {
      "header": [
        "Dec'25",
        "Sep'25",
        "Change(%)"
      ],
      "body": [
        {
          "field": "Net Sales",
          "val1": "66.70",
          "val2": "64.70",
          "chgp": "3.09%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "50.70",
          "val2": "48.10",
          "chgp": "5.41%",
          "chgp_class": "positive"
        },
        {
          "field": "Interest",
          "val1": "6.70",
          "val2": "4.50",
          "chgp": "48.89%",
          "chgp_class": "negative"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "31.10",
          "val2": "28.60",
          "chgp": "8.74%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "482.60%",
          "val2": "454.70%",
          "chgp": "2.79%",
          "chgp_class": "positive"
        }
      ]
    }
  },
  {
    "link": "annual",
    "btn_text": "All Annual Results",
    "header": "Annual Results Snapshot (Consolidated) - Dec'25",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": "YoY Growth in year ended Dec 2025 is -13.78% vs -0.32% in Dec 2024",
        "dir": -1
      },
      {
        "prefix": "Consolidated Net Profit ",
        "suffix": "YoY Growth in year ended Dec 2025 is -27.67% vs -2.86% in Dec 2024",
        "dir": -1
      }
    ],
    "table": {
      "header": [
        "Dec'25",
        "Dec'24",
        "Change(%)"
      ],
      "body": [
        {
          "field": "Net Sales",
          "val1": "266.00",
          "val2": "308.50",
          "chgp": "-13.78%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "202.00",
          "val2": "242.60",
          "chgp": "-16.74%",
          "chgp_class": "negative"
        },
        {
          "field": "Interest",
          "val1": "20.20",
          "val2": "17.70",
          "chgp": "14.12%",
          "chgp_class": "negative"
        },
        {
          "field": "Exceptional Items",
          "val1": "-3.50",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "115.30",
          "val2": "159.40",
          "chgp": "-27.67%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "481.20%",
          "val2": "556.80%",
          "chgp": "-7.56%",
          "chgp_class": "negative"
        }
      ]
    }
  }
]

Quarterly Results Snapshot (Consolidated) - Dec'25 - QoQ

Dec'25

Sep'25

Change(%)

Net Sales

66.70

64.70

3.09%

Operating Profit (PBDIT) excl Other Income

50.70

48.10

5.41%

Interest

6.70

4.50

48.89%

Exceptional Items

0.00

Consolidate Net Profit

31.10

28.60

8.74%

Operating Profit Margin (Excl OI)

482.60%

454.70%

2.79%

USD in Million.

Compare with Peers

Net Sales

QoQ Growth in quarter ended Dec 2025 is 3.09% vs 2.86% in Sep 2025

Consolidated Net Profit

QoQ Growth in quarter ended Dec 2025 is 8.74% vs 13.04% in Sep 2025

All Quarterly Results

Annual Results Snapshot (Consolidated) - Dec'25

Dec'25

Dec'24

Change(%)

Net Sales

266.00

308.50

-13.78%

Operating Profit (PBDIT) excl Other Income

202.00

242.60

-16.74%

Interest

20.20

17.70

14.12%

Exceptional Items

-3.50

0.00

Consolidate Net Profit

115.30

159.40

-27.67%

Operating Profit Margin (Excl OI)

481.20%

556.80%

-7.56%

USD in Million.

Compare with Peers

Net Sales

YoY Growth in year ended Dec 2025 is -13.78% vs -0.32% in Dec 2024

Consolidated Net Profit

YoY Growth in year ended Dec 2025 is -27.67% vs -2.86% in Dec 2024

All Annual Results

Company CV

About Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc.

Realty

Innovative Industrial Properties, Inc. is a real estate investment trust (REIT). The Company is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated state-licensed cannabis facilities. It acquires properties through sale-leaseback transactions and third-party purchases. The Company partners with medical-use cannabis operators and serves as a source of capital by acquiring and leasing back their real estate assets, in addition to offering other real estate-based capital solutions. It partners with licensed operators across all product types: cultivation, processing, distribution and retail. The Company owns approximately 66 properties located in 17 states totaling approximately 5.4 million rentable square feet.

Company Coordinates

Company Details

1389 Center Drive, Suite 200 , PARK CITY UT : 84098

Tel: 1 858 9973332

http://innovativeindustrialproperties.com/

Registrar Details