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6M
YTD
1Y
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5Y
ALL
Market cap
$1.69B
EPS
3.92
P/E ratio
13.5
Price to sales
5.89
Dividend yield
12.978%
Beta
1.419422
Previous close
$58.40
Today's open
$57.95
Day's range
$57.53 - $58.84
52 week range
$44.58 - $61.40
CEO
Paul Smithers
Employees
22
Headquarters
Park City, UT
Exchange
New York Stock Exchange
Shares outstanding
28774470
Issue type
Common Stock
Real Estate
REITs
Why Is Innovative Industrial Properties (IIPR) Down 3.9% Since Last Earnings Report?
Innovative Industrial Properties (IIPR) reported earnings 30 days ago. What's next for the stock?
Zacks Investment Research • Jun 3, 2026

What IIPR's $282M Senior Note Repayment Means for Investors in 2026
IIPR repays $282M of 5.50% notes due May 2026, easing refinancing pressure and boosting flexibility as it leans on new secured loans.
Zacks Investment Research • May 27, 2026

Innovative Industrial Properties Announces Full Repayment of $282 Million of Senior Notes
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it has fully repaid its outstanding $282 million of 5.50% Senior Notes Due May 2026, satisfying a significant public debt maturity for the Company. The repayment was completed through cash on hand, availability under the Company's revolving credit facilities and proceeds from recently closed term loans. “Repaying this bond maturity represents a meaningful milestone for IIP, which reflects the s.
Business Wire • May 26, 2026

Innovative Industrial Properties: Dual Beats And Fat Dividend Yield From Most Undervalued REIT
Innovative Industrial Properties is undervalued, trading at 8x 2026 annualized first-quarter NFFO versus peers at 14.37x. IIPR's 13.32% dividend yield is not currently covered, but ongoing tenant default resolutions and new leases are expected to improve NFFO coverage and support the payout. Recent leasing momentum and increased payments from defaulted tenants underpin sequential revenue growth, with second-quarter revenue likely to exceed $70 million.
Seeking Alpha • May 25, 2026

Cannabis REITs Gaining Momentum in 2026: 3 Stocks to Watch
The cannabis sector continues attracting investors in 2026. However, many traders now prefer cannabis REITs over traditional marijuana stocks. These companies offer exposure to the industry while also generating income through dividends. Additionally, cannabis REITs typically exhibit lower volatility than many cannabis operators.

Innovative Industrial Properties Announces Closing of $45 Million in Secured Term Loans
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it has closed on four secured term loans totaling $44.9 million in gross proceeds (the “Loans”). The Loans have an initial term of five years, bear interest at a fixed rate of 6.67% and are secured by certain properties of the Company. The proceeds from the Loans are expected to be used to pay off the Company's unsecured notes that are maturing at the end of this month. “This financing reflects.
Business Wire • May 20, 2026

Buried Treasures: 5 Undervalued High-Yield REITs With Strong Balance Sheets
REITs present attractive value, thanks in part to a shortage of new supply and relative immunity to AI disruption, and are outperforming the S&P 500 YTD. This article identifies 25 high-yield REITs with current yields at least 75 basis points above the "no-risk" rate on Treasuries. The list is then screened for dividend safety, FFO growth, and balance sheet quality to arrive at a final list of 5 companies, each offering safe yields above 5.25%.
Seeking Alpha • May 18, 2026

Innovative Industrial Properties Q1 Earnings Call Highlights
Innovative Industrial Properties NYSE: IIPR reported first-quarter 2026 revenue of $69 million and adjusted funds from operations of $53.4 million, or $1.88 per share, as executives said the company is working to stabilize its cannabis real estate portfolio, refinance a near-term bond maturity and position itself for growth amid changes in federal cannabis policy.
MarketBeat • May 11, 2026

Innovative Industrial Properties: Gradual Recovery That I Believe In
Innovative Industrial Properties, Inc. remains a Buy after a ~78% drop since 2022, supported by recent solid earnings and attractive valuation. IIPR's triple-net lease model, 110-property portfolio, and 12.4-year WALT provide predictable cash flows and operational resilience. With a 7% AFFO per share CAGR and 9% annual DPS growth, IIPR offers compelling, growing dividends for income-focused investors.
Seeking Alpha • May 7, 2026

5% Yield Hides a Problem: XSHD Holdings Cut Dividends Faster Than Share Prices Fall
The Invesco S&P SmallCap High Dividend Low Volatility ETF (NASDAQ:XSHD) promises small-cap yield with smoother price action.
24/7 Wall Street • May 7, 2026

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