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    REIT - Industrial
Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc.

IIPR-PA
Innovative Industrial Properties, Inc.US flagNew York Stock Exchange
24.50
USD
-0.02
- -
49.12MMarket Cap
Innovative Industrial Properties, Inc.
IIPR-PA
(New York Stock Exchange)

Recent

price

24.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Revenue per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic EPS, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
- -
- -
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- -
- -
- -
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- -
- -
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Book Value per Share
- -
- -
- -
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- -
- -
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Tangible Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Basic Weighted Avg Shares
- -
- -
6
15
45
117
205
276
310
309
266
263
Sales/Revenue/Turnover
- -
-213.4
-1.71
36.1
55.82
59.66
66.18
60.07
56.41
55.68
48.12
46.72
Operating Margin (%)
- -
- -
1
3
9
28
42
61
67
71
74
74
Depreciation Expense
- -
-4
- -
7
23
66
114
154
166
162
118
120
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
-1,368.22
-1.12
47.24
52.56
56.23
55.73
55.86
53.5
52.4
44.46
45.58
Profit Margin (%)
- -
31
5
-4
55
21
-46
-43
32
36
-55
11
Working Capital
- -
- -
- -
- -
136
137
326
301
301
298
291
291
LT Debt
- -
60
74
264
548
1,525
1,612
1,962
1,953
1,936
1,848
1,895
Total Equity
- -
- -
- -
3.16
5.26
5.95
7.52
7.9
7.73
7.66
5.72
5.5
Return on Invested Capital (%)
- -
- -
- -
105.03
43.39
62.11
70.95
74
102.01
132.84
115.23
125.93
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
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- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
50
102
75
LT Borrowings
290
291
291
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
43
48
108
Shares Outstanding
28
28
28
Market Capitalization
- -
- -
- -

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
160
167
209
Cash, Cash Equivalents & STI
37
48
89
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
176
222
198
Payables & Accruals
74
69
73
ST Debt
50
102
75
Deferred Revenue
51
50
50

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1,189,792.91%
4.31%
-4.55%
Free Cash Flow
- -
16.27%
-23.32%
Net Income, GAAP
- -
17.38%
-26.85%
Sales/Revenue/Turnover
- -
21.59%
-13.8%
Total Cash Common Dividend
- -
26.1%
1.88%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
75
80
77
77
309
2025
72
63
65
67
266
2026
69
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
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- -
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Business
Innovative Industrial Properties, Inc. (NYSE: IIPR) is a real estate investment trust focused on the acquisition, ownership, and management of specialized industrial properties leased to state-licensed operators for their regulated cannabis facilities; it also invests in life science real estate. The company acquires freestanding industrial and retail properties through sale-leaseback transactions and third-party purchases, leasing them under long-term absolute net lease agreements to well-capitalized, licensed operators; its portfolio includes cultivation, processing, manufacturing, and distribution facilities for major tenants such as Green Thumb Industries, Curaleaf, Ascend Wellness Holdings, and Vireo Health. Founded in December 2016 and headquartered in San Diego, California, with administrative operations in Park City, Utah, Innovative Industrial Properties owns approximately 109 properties totaling 9.0 million rentable square feet across 19 states, including Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington. In August 2025, the company committed up to $270 million to IQHQ, Inc., a premier life science real estate platform, closing an initial $105 million investment in September 2025 comprising $100 million in a revolving credit facility and preferred stock; this marks its first diversification outside cannabis, expected to be highly accretive to AFFO per share with weighted average interest exceeding 14% and reducing cannabis rental revenue concentration to 88% of total revenues pro forma as of June 30, 2025.

Company News

APIChatGPT

  • businesswire.com

    FILING DEADLINE--Kuznicki Law PLLC Announces Class Action on Behalf of Shareholders of Innovative Industrial Properties, Inc. - IIPR, IIPR-PA

  • businesswire.com

    EQUITY ALERT: Rosen Law Firm Encourages Innovative Industrial Properties, Inc. Investors With Losses to Inquire About Class Action Investigation – IIPR, IIPR-PA