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: 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: 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: 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
            

Period: 2025 Q4

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
            

Period: 2026 Q1

Years since IPO: 10/15,
Adjusted FFO Growth: 0/15,
Adjusted FFO/share Growth: 0/20,
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

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.

Innovative Industrial Properties Q1 Earnings Call Highlights

The Invesco KBW Premium Yield Equity REIT ETF (NASDAQ:KBWY) concentrates in roughly 30 small and mid-cap REITs that pass a high-yield screen.

High yield ETF KBWY faces hidden payout risk from cannabis REIT tenant defaults

The Invesco S&P SmallCap High Dividend Low Volatility ETF (NASDAQ:XSHD) promises small-cap yield with smoother price action.

5% Yield Hides a Problem: XSHD Holdings Cut Dividends Faster Than Share Prices Fall

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it has closed on a $56.5 million secured term loan (the “Loan”). The Loan has an initial term of three years, bears interest at the one-month Secured Overnight Financing Rate (SOFR) plus a spread of 500 basis points, is interest only and is secured by certain properties of the Company. The proceeds from the Loan are expected to be used to pay off the Company's unsecured notes that are maturing.

Innovative Industrial Properties Announces Closing of $56.5 Million Secured Term Loan

The cannabis sector continues to shift in 2026. Regulatory changes remain a major catalyst. In particular, federal reform discussions are once again gaining attention. If progress happens, operators could see stronger margins. As a result, cannabis REITs may benefit from improved tenant health.

Top 3 Cannabis REIT Stocks to Watch in May 2026 for High Dividend Income

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company") announced today results for the first quarter ended March 31, 2026. Executive Chairman Remarks “We are encouraged by the pace of leasing activity year-to-date, including nearly 400,000 square feet of executed leases, which underscores the ongoing demand for our properties," said Alan Gold, Executive Chairman of IIP. "At the same time, we have taken deliberate steps to fortify our balance she.

Innovative Industrial Properties Reports First Quarter 2026 Results

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it will report its first quarter 2026 results after the close of trading on the New York Stock Exchange on Monday, May 4, 2026. Management will host an investor conference call at 9:00 a.m. Pacific Time on Tuesday, May 5, 2026, 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 section of t.

Innovative Industrial Properties Announces First Quarter 2026 Earnings Release Date and Conference Call

The cannabis sector continues evolving in 2026, and REITs are gaining attention again. These companies offer exposure without directly selling cannabis. Instead, they generate income through leasing and financing properties. As a result, they often provide strong dividend yields for investors. Meanwhile, industry growth remains a key long-term catalyst.

3 Cannabis REITs Positioned for Growth in 2026

SG Americas Securities LLC lifted its holdings in Innovative Industrial Properties, Inc. (NYSE: IIPR) by 110.4% in the undefined quarter, according to its most recent 13F filing with the SEC. The firm owned 24,928 shares of the company's stock after purchasing an additional 13,079 shares during the quarter. SG Americas Securities LLC owned

SG Americas Securities LLC Has $1.18 Million Stock Holdings in Innovative Industrial Properties, Inc. $IIPR

The U.S. cannabis industry continues to expand despite regulatory uncertainty. However, ancillary companies remain critical to its long-term growth. These businesses provide real estate and financing solutions to operators. As a result, they avoid direct plant-touching risks. Moreover, they benefit from strong demand for capital and infrastructure. Therefore, investors often view them as more stable exposure plays. In April 2026, real estate investment trusts stand out. They generate income through leases and lending activities. Additionally, they offer attractive dividend yields.

Best Cannabis REITs and Lenders to Watch This April 2026

Oil is up, and everything else is down. Stocks. Bonds.

REITs Have Been Rocked, These 4 Now Pay Up To 14.6%

The cannabis sector continues evolving as new catalysts reshape long-term growth expectations. Federal rescheduling discussions remain a major driver for the industry. In fact, potential policy changes could significantly improve profitability for operators.

Top 3 Cannabis REITs to Watch in March 2026 for High Dividend Income

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”) announced today the following portfolio updates, including the execution of 122,000 square feet of new leases in March 2026, as the Company continues to execute on its previously announced plan to enhance the performance of its real estate portfolio and drive long-term value for its shareholders: PharmaCann The Company has resolved all pending litigation with PharmaCann Inc. (“PharmaCann”) w.

Innovative Industrial Properties Announces PharmaCann Resolution and Provides Portfolio Update

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) (“IIP” or the “Company”) announced today that its board of directors has declared a first quarter 2026 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 $1.1 billion in common stock dividends to its shareholders. Additionally, IIP announced today that its board of directors has declared a regular quarterly div.

Innovative Industrial Properties Declares First Quarter 2026 Dividends

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (IIP) (NYSE: IIPR) ANNOUNCED TODAY IT HAS CLOSED ON A $56.5 MILLION SECURED TERM LOAN (THE LOAN). THE LOAN HAS AN INITIAL TERM OF THREE YEARS, BEARS INTEREST AT THE ONE-MONTH SECURED OVERNIGHT FINANCING RATE (SOFR) PLUS A SPREAD OF 500 BASIS POINTS, IS INTEREST ONLY AND IS SECURED BY CERTAIN PROPERTIES OF THE COMPANY. THE PROCEEDS FROM THE LOAN ARE EXPECTED TO BE USED TO PAY OFF THE COMPANY'S UNSECURED NOTES THAT ARE MATURING.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES CLOSING OF $56.5 MILLION SECURED TERM LOAN

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) ("IIP" OR THE "COMPANY") ANNOUNCED TODAY RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2026. EXECUTIVE CHAIRMAN REMARKS WE ARE ENCOURAGED BY THE PACE OF LEASING ACTIVITY YEAR-TO-DATE, INCLUDING NEARLY 400,000 SQUARE FEET OF EXECUTED LEASES, WHICH UNDERSCORES THE ONGOING DEMAND FOR OUR PROPERTIES," SAID ALAN GOLD, EXECUTIVE CHAIRMAN OF IIP. "AT THE SAME TIME, WE HAVE TAKEN DELIBERATE STEPS TO FORTIFY OUR BALANCE SHE.

INNOVATIVE INDUSTRIAL PROPERTIES REPORTS FIRST QUARTER 2026 RESULTS

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (IIP) (NYSE: IIPR) ANNOUNCED TODAY IT WILL REPORT ITS FIRST QUARTER 2026 RESULTS AFTER THE CLOSE OF TRADING ON THE NEW YORK STOCK EXCHANGE ON MONDAY, MAY 4, 2026. MANAGEMENT WILL HOST AN INVESTOR CONFERENCE CALL AT 9:00 A.M. PACIFIC TIME ON TUESDAY, MAY 5, 2026, 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 SECTION OF T.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES FIRST QUARTER 2026 EARNINGS RELEASE DATE AND CONFERENCE CALL

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) (IIP OR THE COMPANY) ANNOUNCED TODAY THE FOLLOWING PORTFOLIO UPDATES, INCLUDING THE EXECUTION OF 122,000 SQUARE FEET OF NEW LEASES IN MARCH 2026, AS THE COMPANY CONTINUES TO EXECUTE ON ITS PREVIOUSLY ANNOUNCED PLAN TO ENHANCE THE PERFORMANCE OF ITS REAL ESTATE PORTFOLIO AND DRIVE LONG-TERM VALUE FOR ITS SHAREHOLDERS: PHARMACANN THE COMPANY HAS RESOLVED ALL PENDING LITIGATION WITH PHARMACANN INC. (PHARMACANN) W.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES PHARMACANN RESOLUTION AND PROVIDES PORTFOLIO UPDATE

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) (IIP OR THE COMPANY) ANNOUNCED TODAY THAT ITS BOARD OF DIRECTORS HAS DECLARED A FIRST QUARTER 2026 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 $1.1 BILLION IN COMMON STOCK DIVIDENDS TO ITS SHAREHOLDERS. ADDITIONALLY, IIP ANNOUNCED TODAY THAT ITS BOARD OF DIRECTORS HAS DECLARED A REGULAR QUARTERLY DIV.

INNOVATIVE INDUSTRIAL PROPERTIES DECLARES FIRST QUARTER 2026 DIVIDENDS

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) ("IIP" OR THE "COMPANY") ANNOUNCED TODAY RESULTS FOR THE FOURTH QUARTER AND FULL YEAR ENDED DECEMBER 31, 2025. EXECUTIVE CHAIRMAN REMARKS DURING 2025, WE MADE SIGNIFICANT PROGRESS EXECUTING ON OUR STRATEGY TO DIVERSIFY THE COMPANY'S PORTFOLIO, STRENGTHEN OUR BALANCE SHEET, AND ACTIVELY RESOLVE TENANT-RELATED MATTERS," SAID ALAN GOLD, EXECUTIVE CHAIRMAN OF IIP. "OUR STRATEGIC INVESTMENT IN IQHQ AND ESTABLISHMENT OF.

INNOVATIVE INDUSTRIAL PROPERTIES REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (IIP) (NYSE: IIPR) ANNOUNCED TODAY IT WILL REPORT ITS FOURTH QUARTER 2025 RESULTS AFTER THE CLOSE OF TRADING ON THE NEW YORK STOCK EXCHANGE ON MONDAY, FEBRUARY 23, 2026. MANAGEMENT WILL HOST AN INVESTOR CONFERENCE CALL AT 9:00 A.M. PACIFIC TIME ON TUESDAY, FEBRUARY 24, 2026, 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.

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

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.

INNOVATIVE INDUSTRIAL PROPERTIES ANNOUNCES TAX TREATMENT OF 2025 DISTRIBUTIONS

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE: IIPR) (IIP OR THE COMPANY) ANNOUNCED TODAY THAT ITS BOARD OF DIRECTORS HAS DECLARED A FOURTH 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 $1.1 BILLION IN COMMON STOCK DIVIDENDS TO ITS SHAREHOLDERS. ADDITIONALLY, IIP ANNOUNCED TODAY THAT ITS BOARD OF DIRECTORS HAS DECLARED A REGULAR QUARTERLY DI.

INNOVATIVE INDUSTRIAL PROPERTIES DECLARES FOURTH QUARTER 2025 DIVIDENDS

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

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