YOLFTbeta
Innovative Industrial Properties Inc

Innovative Industrial Properties Inc

IIPR · NYSE · Real Estate / REIT - Industrial

53.02USD+0.36 (+0.68%)

Price History

Full chart

Market Stats

Previous Close52.66
Open52.99
Day Range52.64 – 53.43
52-Week Range40.04 – 65.38
Volume208.82K
Market Cap1.53B
P/E (TTM)12.56
Forward P/E12.39
EPS4.42
Dividend Yield13.69%
Beta1.40
50-Day Avg58.10
200-Day Avg54.94

About

Innovative Industrial Properties, Inc. is an internally managed real estate investment trust focused on the acquisition, ownership and management of specialized industrial properties and financial investments in the life science industry. As of June 30, 2026, we owned 108 properties comprising an aggregate of approximately 8.4 million rentable square feet in 19 states. Innovative Industrial Properties, Inc. was established on June 15th 2016 and is incorporated in Maryland.

Company Details

Leadership

  • Mr. Alan D. GoldExecutive Chairman · b. 1960
  • Mr. Paul E. SmithersPresident, CEO & Director · b. 1957
  • Mr. David Jon SmithCFO & Treasurer · b. 1981
  • Ms. Catherine Hastings CPAChief Operating Officer · b. 1971
  • Mr. Ben ReginChief Investment Officer
  • Mr. Andy BuiVP & Chief Accounting Officer · b. 1982
  • Ms. Kelly C. SpicherSenior Vice President of Real Estate Counsel
  • Ms. Tracie HagerSenior Vice President of Asset Management · b. 1961
  • Eli KanterSenior Associate of Finance

Financials

Income Statement

Currency: USD2015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue5.63M321.00K6.42M14.79M44.67M116.90M204.55M276.36M309.51M308.52M265.95M
Growth (%)--94.30%+1900.00%+130.33%+202.07%+161.71%+74.99%+35.11%+11.99%-0.32%-13.80%
Cost of Revenue087.00K118.00K445.00K1.31M4.95M4.44M10.52M24.89M28.47M30.18M
Gross Profit5.63M234.00K6.30M14.34M43.35M111.94M200.11M265.84M284.61M280.05M235.78M
Gross Margin100.00%72.90%98.16%96.99%97.06%95.76%97.83%96.19%91.96%90.77%88.65%
Operating Expense641.43K4.63M6.53M9.00M18.42M42.21M64.74M96.22M110.03M111.70M111.66M
Operating Income4.99M-4.39M-223.00K5.34M24.93M69.74M135.37M169.62M174.59M168.34M124.12M
Operating Margin88.60%-1368.22%-3.47%36.10%55.82%59.66%66.18%61.38%56.41%54.57%46.67%
EBITDA5.63M-1.22M805.00K7.97M37.60M100.24M172.15M232.64M248.88M248.72M208.70M
EBITDA Margin100.00%-380.24%12.54%53.88%84.18%85.75%84.16%84.18%80.41%80.62%78.47%
Net Income4.99M-4.39M-72.00K6.99M23.48M65.73M113.99M154.39M165.59M161.66M114.44M
Net Income Margin88.60%-1368.22%-1.12%47.24%52.56%56.23%55.73%55.86%53.50%52.40%43.03%
R&D-13.680.010.470.530.560.560.560.54--
R&D as % of Total Revenue-0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%--
Interest Expense00151.00K1.65M6.31M7.43M18.09M18.30M16.10M16.26M20.20M
Interest Expense % of Total Revenue0.00%0.00%2.35%11.14%14.12%6.36%8.84%6.62%5.20%5.27%7.59%

Balance Sheet

Currency: USD2015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets-63.33M80.03M281.47M745.86M1.77B2.08B2.41B2.39B2.38B2.37B
Total Liabilities-2.89M6.48M17.17M197.85M243.11M472.90M452.94M438.12M441.99M522.85M
Total Equity-60.44M73.55M264.29M548.01M1.52B1.61B1.96B1.95B1.94B1.85B
Cash-33.00M11.76M13.05M82.24M126.01M81.10M87.12M140.25M146.25M47.60M
Total Debt-60.76B482.00K614.00K135.86M137.75M326.09M301.50M300.88M297.87M393.70M
Net Debt--33.00M-11.76M-13.05M53.61M11.74M245.00M214.37M160.63M151.62M346.10M

Cash Flow

Currency: USD2015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow2.90M1.69M5.01M15.69M44.93M110.81M188.75M234.13M255.54M258.45M198.19M
Investing Cash Flow-51.48M-30.03M-38.65M-199.25M-340.63M-1.03B-384.09M-396.20M-6.79M-56.00M-174.30M
Financing Cash Flow105.16M61.34M12.38M184.85M399.96M924.99M155.76M164.22M-195.63M-197.90M-122.54M
Capital Expenditure5.91M30.03M5.91M22.29M343.92M529.83M662.13M523.97M150.09M81.75M23.43M
Free Cash Flow--28.34M-896.00K-6.60M-298.98M-419.01M188.75M234.13M105.45M258.45M174.76M
Dividends Paid1.05M1.05M1.05M7.98M23.94M76.82M132.31M183.94M204.06M213.53M219.51M
FCF to OCF--1673.89%-17.87%-42.06%-665.38%-378.12%100.00%100.00%41.27%100.00%88.18%
Dividend Paid to FCF--3.71%-117.19%-120.89%-8.01%-18.33%70.10%78.56%193.51%82.62%125.61%

Earnings

Report DateMar 22, 2017May 10, 2017Aug 9, 2017Nov 8, 2017Mar 28, 2018May 9, 2018Aug 10, 2018Nov 7, 2018Mar 13, 2019May 8, 2019Aug 7, 2019Nov 6, 2019Feb 26, 2020May 6, 2020Aug 5, 2020Nov 4, 2020Feb 24, 2021May 5, 2021Aug 4, 2021Nov 3, 2021Feb 23, 2022May 4, 2022Aug 3, 2022Nov 2, 2022Feb 27, 2023May 8, 2023Aug 2, 2023Nov 1, 2023Feb 26, 2024May 8, 2024Aug 5, 2024Nov 6, 2024Feb 24, 2025May 7, 2025Aug 6, 2025Nov 3, 2025Feb 23, 2026May 4, 2026Aug 3, 2026Nov 2, 2026
EPS Estimate-0.050.010.020.040.140.180.090.220.230.330.300.470.570.730.750.811.070.971.111.161.251.361.361.301.291.311.401.421.411.431.301.451.361.170.910.900.991.071.691.75
EPS Actual-2.80-0.18-0.130.090.070.090.170.210.240.330.300.550.780.720.730.860.911.051.171.201.141.321.421.321.331.431.441.451.451.361.441.371.361.030.860.971.061.041.83-
Surprise-5500.00%-1900.00%-750.00%125.00%-50.00%-50.00%88.89%-4.55%4.35%0.00%0.00%17.02%36.84%-1.37%-2.67%6.17%-14.95%8.25%5.41%3.45%-8.80%-2.94%4.41%1.54%3.10%9.16%2.86%2.11%2.84%-4.90%10.77%-5.52%0.00%-11.97%-5.49%7.78%7.07%-2.80%8.28%-
TimingAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap1.53B
Enterprise Value2.06B
Trailing P/E12.56
Forward P/E12.39
PEG Ratio0.00
Price / Sales5.81
Price / Book0.88
EPS4.42
Book Value62.48
Revenue (TTM)263.65M
Gross Profit (TTM)232.95M
EBITDA202.60M
Profit Margin52.27%
Operating Margin48.82%
Return on Equity7.39%
Return on Assets3.28%
Shares Outstanding27.57M
Shares Float26.99M
Beta1.40
Dividend Yield13.69%
Dividend Rate7.60
Payout Ratio1.55%

Analyst Ratings

Hold
Based on 6 analystsTarget 64.50
  • Strong Buy
    1
  • Buy
    1
  • Hold
    2
  • Sell
    1
  • Strong Sell
    1

Ownership Breakdown

Institutions
78.85%
Insiders
1.98%
Retail / Other
19.17%

Top Institutional Holders

  • BlackRock Inc
    4.78M17.34%
  • Vanguard Portfolio Management, LLC
    2.73M9.90%
  • State Street Corp
    1.59M5.75%
  • Vanguard Capital Management, LLC
    1.24M4.51%
  • Charles Schwab Investment Management Inc
    573.63K2.08%
  • The Goldman Sachs Group Inc
    541.92K1.97%
  • Arrowstreet Capital Limited Partnership
    539.60K1.96%
  • MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
    516.11K1.87%
  • Amvescap Plc.
    496.08K1.80%
  • Point72 Asset Management, L.P.
    464.91K1.69%
  • Northern Trust Corp
    380.29K1.38%
  • Dimensional Fund Advisors, Inc.
    364.78K1.32%
  • D. E. Shaw & Co LP
    304.57K1.10%

Top Fund Holders

  • iShares Core S&P Small-Cap ETF
    1.75M6.36%
  • Vanguard Real Estate Index Investor
    1.09M3.95%
  • Vanguard MStar Total Stk Mkt Idx Invest
    915.19K3.32%
  • iShares Russell 2000 ETF
    745.05K2.70%
  • Vanguard Small Cap Index
    661.56K2.40%
  • Vanguard MStar Small Cap Value Index
    420.46K1.52%
  • Invesco KBW Premium Yield Eq REIT ETF
    350.19K1.27%

Dividends

20263×
1.90Sep 30, 20261.90Jun 30, 20261.90Mar 31, 2026
20254×
1.90Dec 31, 20251.90Sep 30, 20251.90Jun 30, 20251.90Mar 31, 2025
20244×
1.90Dec 31, 20241.90Sep 30, 20241.90Jun 28, 20241.82Mar 27, 2024
20234×
1.82Dec 28, 20231.80Sep 28, 20231.80Jun 29, 20231.80Mar 30, 2023
20224×
1.80Dec 29, 20221.80Sep 29, 20221.75Jun 29, 20221.75Mar 30, 2022
20214×
1.50Dec 30, 20211.50Sep 29, 20211.40Jun 29, 20211.32Mar 30, 2021
20201×
1.24Dec 30, 2020