United States

AFFO (TTM)

AFFO/share (TTM)

AFFO (Quarter)

AFFO/share (Quarter)

Price per share at the end of the period divided by the last reported earnings

Price/AFFO

Size (ft²)

Occupancy

Innovative Industrial Properties, Inc. targets medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term, triple-net leases. We believe this industry is poised for significant growth in coming years, and our highly experienced management team is focused on being a creative capital provider to this industry through the long-term ownership of cultivators’ mission-critical facilities.

Innovative Industrial Properties 

The main earnings metric reported by the REIT

If the REIT is managed by an internal (employees) or external (separate company) team

Period: 2022 Q4

Years since IPO: 7/15,
Adjusted FFO Growth: 13/15,
Adjusted FFO/share Growth: 18/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2023 Q1

Years since IPO: 7/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 15/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2023 Q2

Years since IPO: 7/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 15/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2023 Q3

Years since IPO: 7/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 15/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2023 Q4

Years since IPO: 7/15,
Adjusted FFO Growth: 13/15,
Adjusted FFO/share Growth: 18/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2024 Q1

Years since IPO: 10/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2024 Q2

Years since IPO: 10/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2024 Q3

Years since IPO: 10/15,
Adjusted FFO Growth: 15/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2024 Q4

Years since IPO: 7/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Period: 2025 Q1

Years since IPO: 10/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 20/20,
Payout Ratio: 10/15,
Debt: 15/15
            

Period: 2025 Q2

Years since IPO: 10/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 20/20,
Payout Ratio: 5/15,
Debt: 15/15
            

Period: 2025 Q3

Years since IPO: 10/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 20/20,
Payout Ratio: 0/15,
Debt: 15/15
            

The significance of a company's longevity in the market

Years since IPO

Evaluation of recent trends and improvements in the company's Adjusted FFO

Adjusted FFO Growth

Assessment of recent increases in Adjusted FFO per share, indicating profitability

Adjusted FFO/share Growth

Analysis of the recent Dividend track record

Dividend Growth

Payout level to determine if the dividend is safe

Payout Ratio

Examination of debt levels using Debt/Assets and Debt/EBITDA to ensure manageable leverage

Debt

The continuous evolution and future outlook on legal cannabis is what keeps investors in the game. After a long battle to see any true stable trading momentum, it has for some time worked the same for most marijuana stocks. It often comes from positive news on federal reform or when a company achieves a significant milestone in business or reports strong financial results.

3 Top Marijuana Stocks For Better Investing And Larger Profits In 2026

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company") announced today results for the third quarter ended September 30, 2025. Executive Chairman Remarks “We are pleased to have made our first investment outside of the cannabis industry during the third quarter with our $270 million financial investment into IQHQ, marking IIP's return to growth and providing meaningful diversification and accretion for IIP's shareholders,” said Alan Gold, Execut.

Innovative Industrial Properties Reports Third Quarter 2025 Results

Sold 68,221 shares of Innovative Industrial Properties for an estimated $3.77 million, based on the quarterly average price in Q3 2025 Post-trade stake is zero shares, or $0 in value The position previously accounted for 3.0% of fund AUM

Koa Wealth Liquidates All 68K IIPR Shares Valued at $3.8 Million

The U.S. cannabis industry continues to expand rapidly, with sales projected to surpass $40 billion in 2025. Analysts expect nationwide revenue could exceed $70 billion by 2030 as more states legalize both medical and recreational use. Recent headlines highlight renewed discussions in Congress about rescheduling cannabis under federal law, which could further boost industry confidence. Cannabis Real Estate Investment Trusts (REITs) like Innovative Industrial Properties, NewLake Capital Partners, and Chicago Atlantic Real Estate Finance benefit directly from this trend. These companies lease facilities to licensed operators and offer investors consistent dividend income. Many of these REITs currently provide dividend yields between 8% and 12%, making them appealing to income-focused investors seeking exposure to this growing market.

Top 3 Cannabis REITs to Watch in October 2025: Dividend Income Meets Industry Growth

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its third quarter 2025 results after the close of trading on the New York Stock Exchange on Monday, November 3, 2025. Management will host an investor conference call at 9:00 a.m. Pacific Time on Tuesday, November 4, 2025, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations se.

Innovative Industrial Properties Announces Third Quarter 2025 Earnings Release Date and Conference Call

Dividend investing beats benchmark indexes through compounding over decades. High yields boost income but demand scrutiny for hidden risks like cuts.

2 Stocks That Yield 12% and Higher Are Passive Income Kings

The cannabis real estate sector is drawing renewed attention this week. Amid volatility in broader markets, top cannabis REITs stand out as vehicles to access cannabis industry upside without touching the plant. Moreover, the U.S. cannabis industry is showing robust fundamentals. In 2024, legal sales reached about $30.1 billion, growing roughly 4.5% year over year. Analysts expect the U.S. cannabis market to reach $76 billion by 2030, with a projected annual growth rate near 11%. Meanwhile, regulatory momentum is building as lawmakers continue pushing for federal reform. These developments could open banking access and reduce financing barriers for cannabis operators. Such shifts promise strong catalysts for REITs focused on cannabis properties, lending, and real estate expansion.

3 Cannabis REITs Leading the Marijuana Stock Market in October 2025

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”) announced today that it has closed on a new $100 million secured revolving credit facility (“Credit Facility”) with a federally regulated commercial bank. “The successful closing of this credit facility supports our thesis that our recent investment in the life science industry should lead to both improved access to, and lower cost of, capital,” said Alan Gold, Executive Chairman of IIP. “Wi.

Innovative Industrial Properties Announces New $100 Million Revolving Credit Facility to Support Strategic Growth

In most US industries, banks help businesses finance their buildings. The lenders also provide working lines of capital for the operations to grow.

The Reputable 13.7%-Paying REIT With ‘Prohibition Pricing Power'

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”), announced today that it has closed its initial investment into IQHQ, Inc. (“IQHQ”), a premier life science real estate platform. The initial investment totaled $105 million and was comprised of a $100 million investment into a revolving credit facility with the remainder invested in shares of preferred stock of IQHQ. The initial investment was funded through cash on hand and draws from the.

Innovative Industrial Properties Announces Closing of Initial Investment Into IQHQ

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”), the first and only real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a third quarter 2025 dividend of $1.90 per share of common stock, representing an annualized dividend of $7.60 per common share. Since its inception in 2016, the Company has paid $1.0 billion in common stock dividends.

Innovative Industrial Properties Declares Third Quarter 2025 Dividends

The U.S. cannabis industry continues to show resilience despite market challenges. In 2024, sales exceeded $33 billion nationwide, and analysts project annual revenues could surpass $50 billion by 2030. Growth is fueled by new state markets, expanding consumer demand, and strong ancillary services. Recently, U.S. lawmakers revisited cannabis reform discussions, signaling renewed potential for federal legalization. Moreover, the Department of Health and Human Services has recommended reclassifying cannabis under the Controlled Substances Act. This development adds optimism for investors. Ancillary stocks, which provide real estate, equipment, and financing, remain essential in this expanding market. Importantly, these businesses avoid plant-touching risks. Therefore, they often present safer exposure to industry growth.

Best Ancillary Marijuana Stocks for Investors This Week: REITs and Financing Leaders

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) ("IIP" OR THE "COMPANY") ANNOUNCED TODAY RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2025. EXECUTIVE CHAIRMAN REMARKS WE ARE PLEASED TO HAVE MADE OUR FIRST INVESTMENT OUTSIDE OF THE CANNABIS INDUSTRY DURING THE THIRD QUARTER WITH OUR $270 MILLION FINANCIAL INVESTMENT INTO IQHQ, MARKING IIP'S RETURN TO GROWTH AND PROVIDING MEANINGFUL DIVERSIFICATION AND ACCRETION FOR IIP'S SHAREHOLDERS, SAID ALAN GOLD, EXECUT.

INNOVATIVE INDUSTRIAL PROPERTIES REPORTS THIRD QUARTER 2025 RESULTS

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (IIP) (NYSE: IIPR) ANNOUNCED TODAY IT WILL REPORT ITS THIRD QUARTER 2025 RESULTS AFTER THE CLOSE OF TRADING ON THE NEW YORK STOCK EXCHANGE ON MONDAY, NOVEMBER 3, 2025. MANAGEMENT WILL HOST AN INVESTOR CONFERENCE CALL AT 9:00 A.M. PACIFIC TIME ON TUESDAY, NOVEMBER 4, 2025, TO DISCUSS THE COMPANY'S FINANCIAL RESULTS AND OPERATIONS FOR THE QUARTER. THE CALL WILL BE AVAILABLE THROUGH A LIVE AUDIO WEBCAST AT THE INVESTOR RELATIONS SE.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES THIRD QUARTER 2025 EARNINGS RELEASE DATE AND CONFERENCE CALL

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) (IIP OR THE COMPANY) ANNOUNCED TODAY THAT IT HAS CLOSED ON A NEW $100 MILLION SECURED REVOLVING CREDIT FACILITY (CREDIT FACILITY) WITH A FEDERALLY REGULATED COMMERCIAL BANK. THE SUCCESSFUL CLOSING OF THIS CREDIT FACILITY SUPPORTS OUR THESIS THAT OUR RECENT INVESTMENT IN THE LIFE SCIENCE INDUSTRY SHOULD LEAD TO BOTH IMPROVED ACCESS TO, AND LOWER COST OF, CAPITAL, SAID ALAN GOLD, EXECUTIVE CHAIRMAN OF IIP. WI.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES NEW $100 MILLION REVOLVING CREDIT FACILITY TO SUPPORT STRATEGIC GROWTH

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) (IIP OR THE COMPANY), ANNOUNCED TODAY THAT IT HAS CLOSED ITS INITIAL INVESTMENT INTO IQHQ, INC. (IQHQ), A PREMIER LIFE SCIENCE REAL ESTATE PLATFORM. THE INITIAL INVESTMENT TOTALED $105 MILLION AND WAS COMPRISED OF A $100 MILLION INVESTMENT INTO A REVOLVING CREDIT FACILITY WITH THE REMAINDER INVESTED IN SHARES OF PREFERRED STOCK OF IQHQ. THE INITIAL INVESTMENT WAS FUNDED THROUGH CASH ON HAND AND DRAWS FROM THE.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES CLOSING OF INITIAL INVESTMENT INTO IQHQ

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) (IIP OR THE COMPANY), THE FIRST AND ONLY REAL ESTATE COMPANY ON THE NEW YORK STOCK EXCHANGE FOCUSED ON THE REGULATED U.S. CANNABIS INDUSTRY, ANNOUNCED TODAY THAT ITS BOARD OF DIRECTORS HAS DECLARED A THIRD QUARTER 2025 DIVIDEND OF $1.90 PER SHARE OF COMMON STOCK, REPRESENTING AN ANNUALIZED DIVIDEND OF $7.60 PER COMMON SHARE. SINCE ITS INCEPTION IN 2016, THE COMPANY HAS PAID $1.0 BILLION IN COMMON STOCK DIVIDENDS.

INNOVATIVE INDUSTRIAL PROPERTIES DECLARES THIRD QUARTER 2025 DIVIDENDS

QINGDAO, CHINA, AUG. 25, 2025 (GLOBE NEWSWIRE) -- AS THE CORE AREA OF THE SHANGHAI COOPERATION ORGANIZATION (SCO) DEMONSTRATION ZONE, JIAOZHOU, QINGDAO BOASTS A ROBUST MANUFACTURING BASEAND A COMPREHENSIVE INDUSTRIAL ECOSYSTEM. IT IS HOME TO OVER 15,000 INDUSTRIAL ENTERPRISES, WITH MORE THAN 1,000 ABOVE DESIGNATED SIZE, LEADING CITIES OF ITS LEVEL IN SHANDONG PROVINCE. IN 2024, THE TOTAL OUTPUT VALUE OF ITS INDUSTRIAL ENTERPRISES ABOVE DESIGNATED SIZEEXCEEDED 160 BILLION YUAN.

QINGDAO'S JIAOZHOU ACCELERATES CONSTRUCTION OF INNOVATIVE INDUSTRIAL SYSTEM

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) (IIP OR THE COMPANY), ANNOUNCED TODAY THAT IT ENTERED INTO AGREEMENTS TO MAKE AN INVESTMENT TOTALING UP TO $270 MILLION INTO IQHQ, INC. (IQHQ), A PREMIER LIFE SCIENCE REAL ESTATE PLATFORM WITH OVER $5 BILLION IN TOTAL ASSETS. THE INVESTMENT (THE INVESTMENT, TRANSACTION, OR INVESTMENT TRANSACTION) IS COMPRISED OF TWO DISCRETE INVESTMENTS THAT TOGETHER ARE EXPECTED TO EARN A WEIGHTED AVERAGE INTEREST RATE.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES STRATEGIC AND DIVERSIFYING $270 MILLION INVESTMENT IN LIFE SCIENCE REAL ESTATE PLATFORM

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) ("IIP" OR THE "COMPANY"), THE FIRST AND ONLY REAL ESTATE COMPANY ON THE NEW YORK STOCK EXCHANGE FOCUSED ON THE REGULATED U.S. CANNABIS INDUSTRY, ANNOUNCED TODAY RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2025. SECOND QUARTER 2025 HIGHLIGHTS FINANCIAL RESULTS AND DIVIDEND GENERATED TOTAL REVENUES OF $62.9 MILLION AND NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $25.1 MILLION, OR $0.86 PER SHARE (ALL PER SHARE.

INNOVATIVE INDUSTRIAL PROPERTIES REPORTS SECOND QUARTER 2025 RESULTS

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (IIP) (NYSE: IIPR) ANNOUNCED TODAY IT WILL REPORT ITS SECOND QUARTER 2025 RESULTS AFTER THE CLOSE OF TRADING ON THE NEW YORK STOCK EXCHANGE ON WEDNESDAY, AUGUST 6, 2025. ALAN GOLD, EXECUTIVE CHAIRMAN; PAUL SMITHERS, PRESIDENT AND CHIEF EXECUTIVE OFFICER; DAVID SMITH, CHIEF FINANCIAL OFFICER; CATHERINE HASTINGS, CHIEF OPERATING OFFICER; AND BEN REGIN, CHIEF INVESTMENT OFFICER, WILL HOST AN INVESTOR CONFERENCE CALL AT 9:00 A.M. PA.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES SECOND QUARTER 2025

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (IIP) (NYSE: IIPR), THE FIRST AND ONLY REAL ESTATE COMPANY ON THE NEW YORK STOCK EXCHANGE FOCUSED ON THE REGULATED U.S. CANNABIS INDUSTRY, ANNOUNCED TODAY THAT ITS BOARD OF DIRECTORS HAS DECLARED A SECOND QUARTER 2025 DIVIDEND OF $1.90 PER SHARE OF COMMON STOCK, REPRESENTING AN ANNUALIZED DIVIDEND OF $7.60 PER COMMON SHARE. SINCE ITS INCEPTION IN 2016, IIP HAS PAID OVER $940 MILLION IN COMMON STOCK DIVIDENDS TO ITS SHAREHOLDERS.

INNOVATIVE INDUSTRIAL PROPERTIES DECLARES SECOND QUARTER 2025 DIVIDENDS

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) (IIP OR THE COMPANY), THE FIRST AND ONLY REAL ESTATE COMPANY ON THE NEW YORK STOCK EXCHANGE FOCUSED ON THE REGULATED U.S. CANNABIS INDUSTRY, ANNOUNCED TODAY RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2025. FIRST QUARTER 2025 AND YEAR-TO-DATE HIGHLIGHTS FINANCIAL RESULTS AND DIVIDEND TOTAL REVENUES OF $71.7 MILLION FOR THE QUARTER. NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $30.3 MILLION FOR THE QUARTER.

Innovative Industrial Properties

IIPR

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No items found.

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Diversification by Tenant Industry

Diversification by Country

Historical Scores

Press Releases

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