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Innovative Industrial Properties Inc. (IIPR)

$48.65

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Key data on IIPR

Market cap

$1.36B

EPS

4.21

P/E ratio

11.5

Price to sales

4.94

Dividend yield

15.622%

Beta

1.47521

Price on IIPR

Previous close

$47.70

Today's open

$47.82

Day's range

$47.71 - $48.98

52 week range

$44.58 - $75.71

Profile about IIPR

CEO

Paul Smithers

Employees

22

Headquarters

Park City, UT

Exchange

New York Stock Exchange

Shares outstanding

28022975

Issue type

Common Stock

IIPR industries and sectors

Real Estate

REITs

News on IIPR

3 Cannabis REIT Stocks Offering Income Potential in Q1 2026

The cannabis industry continues to evolve as legalization expands and regulations slowly improve. While many investors focus on plant-touching companies, others prefer lower-risk exposure. This is where cannabis REITs become attractive. These companies generate revenue by owning or financing real estate associated with licensed cannabis operators. As a result, they avoid direct involvement in cannabis production or sales. Instead, they benefit from long-term leases and structured financing agreements.

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3 Popular REITs At High Risk Of Cutting Their Dividends

The most popular REITs are often the highest-yielding ones. But high yield comes with high risk. I highlight 3 popular high-yielding REITs facing significant risks.

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Seeking Alpha • Feb 5, 2026

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Innovative Industrial Properties (IIPR) Advances While Market Declines: Some Information for Investors

In the closing of the recent trading day, Innovative Industrial Properties (IIPR) stood at $49.31, denoting a +1.84% move from the preceding trading day.

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Zacks Investment Research • Feb 5, 2026

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Innovative Industrial Properties (IIPR) Declines More Than Market: Some Information for Investors

In the latest trading session, Innovative Industrial Properties (IIPR) closed at $47.86, marking a -1.85% move from the previous day.

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Zacks Investment Research • Jan 29, 2026

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Innovative Industrial Properties Announces Tax Treatment of 2025 Distributions

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) today announced the tax treatment of its 2025 distributions as follows: Security Description: Common Stock CUSIP: 45781V101 Ticker Symbol: IIPR   Record Date   Payable Date Total Distribution Per Share   Allocable to 2025 Taxable Ordinary Dividend   Return of Capital   Long-Term Capital Gain Unrecaptured Section 1250 Gain Section 199A Dividend(1) 12/31/2024 01/15/2025 $1.900000 $1.070000 $0.970900 $0.099100 $0.

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Business Wire • Jan 23, 2026

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3 Cannabis REITs Investors Are Watching Closely in January 2026

The cannabis sector continues evolving as capital markets slowly reopen. However, volatility remains high for plant-touching cannabis operators. Because of that, many investors look toward cannabis real estate investment trusts. These companies earn income through rent or interest, not cannabis sales. As a result, revenue can be more predictable during uncertain periods. Still, not all cannabis REITs follow the same strategy. Some focus on property ownership, while others specialize in lending. Therefore, understanding each model is essential before investing. January 2026 is an important month as investors reassess income opportunities. Below are three cannabis REITs investors are actively watching this year.

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Innovative Industrial Properties: Amid Diversification, Evaluating The 9.7% Preferred Stock Yield Again

Innovative Industrial Properties is diversifying into life sciences, investing $105M in IQHQ to reduce cannabis sector risk and stabilize revenues. IIPR's projected Q4 balance sheet reflects increased assets ($2.5B), higher debt, and a maintained asset yield near 9%, with market-adjusted asset yield at ~13.7%. Credit metrics are expected to weaken modestly post-investment, with Moody's-style adjusted credit score declining from Baa1 to Baa3 due to higher leverage and tenant risk.

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Seeking Alpha • Jan 14, 2026

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Innovative Industrial: Why I Am Downgrading It

Innovative Industrial Properties is downgraded from Strong Buy to Hold due to sector and REIT-specific concerns, including the sell-off of the preferred stock. IIPR remains attractively valued, trading below tangible book (0.74x) and at 7x projected AFFO, but tenant financial health and maturing debt are risks. The 15.2% dividend yield is unsustainably high, with the payout exceeding AFFO; a cut may be likely and ultimately beneficial.

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Seeking Alpha • Jan 14, 2026

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Innovative Industrial: Buying The 9.7% Yielding Preferreds

Innovative Industrial Properties (IIPR) has not cut its dividend despite significant tenant defaults and a 15% YoY revenue decline. IIPR's 2026 bonds have performed well. Tenant receiverships are ongoing, but strong property interest and potential cannabis rescheduling could materially improve tenant credit quality and rent coverage.

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Seeking Alpha • Jan 13, 2026

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If I Could Only Buy 3 REITs For The Next Year

Now is the time to make our picks for the next year. Some REITs enjoy strong near-term catalysts for upside. I highlight 3 such REITs that could surge in 2026.

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Seeking Alpha • Jan 10, 2026

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