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 Q3

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

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
            

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 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

As noted by CEO Brian Sedrish, “As market activity rebounds, we're seeing more transaction volume and increased demand for financing among borrowers seeking capital for both acquisitions and refinancings.

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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 base and 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 size exceeded 160 billion yuan.

Qingdao's Jiaozhou Accelerates Construction of Innovative Industrial System

Let's talk about three dividends averaging 12%. I bring them up because everyone on Wall Street hates them.

Wall Street Can't Stand This 12%-Yielding Bear Portfolio

The cannabis REIT sector continues to attract attention from income-focused investors this week. The US cannabis industry generated nearly $36 billion in legal sales in 2024. Furthermore, analysts project growth to exceed $70 billion by 2030. This expansion creates significant demand for cultivation and retail facilities. Consequently, cannabis REITs provide operators with capital while offering investors reliable income streams. Recently, federal rescheduling news has fueled optimism across the sector. The Department of Health and Human Services recommended moving cannabis to Schedule III. This shift would reduce taxes for operators and improve profitability. As a result, tenant strength may increase, enhancing REIT stability. Therefore, investors are closely monitoring these developments when evaluating opportunities.

Top Cannabis REITs to Watch This Week for Strong Dividend Income

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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

The U.S. cannabis industry continues its rapid expansion. In 2025, the legal market is projected to reach nearly $45 billion. Its total economic impact may exceed $120 billion by year-end. Recreational cannabis is now legal in 24 states, while medical use is permitted in 40 states. Public support for legalization remains strong, with approval ratings near all-time highs. Additionally, major beverage companies are entering the cannabis space, signaling wider mainstream acceptance. Although federal reform is still pending, investors continue to show interest. As a result, ancillary cannabis stocks are gaining momentum. These companies offer exposure without the risk of handling the plant directly. Investors can improve timing by using technical analysis. Watching key support and resistance levels is essential. Equally important is applying risk management. Always use stop-loss orders and control position sizing to protect capital.

Top REIT and Lending Cannabis Stocks to Watch in July 2025

These dividend stocks have high dividend growth rates and good yields. The underlying stock also has solid upside potential.

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Cannabis REITs are gaining momentum this week as investors seek dividend-paying stocks with long-term growth potential. These companies lease properties to licensed cannabis operators, generating steady income for their shareholders. As the cannabis sector matures, real estate investment trusts provide stability and consistent payouts. The U.S. cannabis market is projected to reach over $45 billion by the end of 2025. Annual growth rates continue to climb as more states expand legalization. Cannabis sales and tax revenue are also setting new records. Therefore, REITs focused on cannabis facilities offer a strong opportunity. They combine predictable rental income with exposure to a rapidly growing industry. Additionally, REITs provide a great way to build a dividend portfolio while avoiding direct exposure to plant-touching businesses. For those seeking reliable yield and capital appreciation, cannabis REITs offer a well-balanced option.

Best Cannabis REITs for July 2025: High-Yield Picks for Income Investors

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 REPORTS FIRST QUARTER 2025 RESULTS

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (IIP) (NYSE: IIPR) ANNOUNCED TODAY IT WILL REPORT ITS FIRST QUARTER 2025 RESULTS AFTER THE CLOSE OF TRADING ON THE NEW YORK STOCK EXCHANGE ON WEDNESDAY, MAY 7, 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. PACIFI.

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

SAN DIEGO--(BUSINESS WIRE)--INNOVATIVE INDUSTRIAL PROPERTIES, INC. (IIP) (NYSE: IIPR), A LEADING REAL ESTATE INVESTMENT TRUST SPECIALIZING IN THE REGULATED CANNABIS INDUSTRY, TODAY ANNOUNCED A SIGNIFICANT TENANT REPLACEMENT AND RENEWAL INITIATIVE AIMED AT ENHANCING THE PERFORMANCE OF ITS REAL ESTATE PORTFOLIO AND DRIVING LONG-TERM VALUE FOR SHAREHOLDERS. THIS INITIATIVE FOCUSES ON STRENGTHENING TENANT CREDIT PROFILES AND OPTIMIZING OCCUPANCY OF THE COMPANY'S PROPERTIES TO ALIGN WITH EVOLVING MA.

INNOVATIVE INDUSTRIAL PROPERTIES REPORTS DEFAULTS BY TENANTS

NEW YORK, NY / ACCESS NEWSWIRE / MARCH 18, 2025 / IF YOU SUFFERED A LOSS ON YOUR INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE:IIPR) INVESTMENT AND WANT TO LEARN ABOUT A POTENTIAL RECOVERY UNDER THE FEDERAL SECURITIES LAWS, FOLLOW THE LINK BELOW FOR MORE INFORMATION: HTTPS://ZLK.COM/PSLRA-1/INNOVATIVE-INDUSTRIAL-PROPERTIES-INC-LAWSUIT-SUBMISSION-FORM?PRID=136948&WIRE=1 OR CONTACT JOSEPH E. LEVI, ESQ.

INVESTORS IN INNOVATIVE INDUSTRIAL PROPERTIES, INC. SHOULD CONTACT LEVI & KORSINSKY BEFORE MARCH 18, 2025 TO DISCUSS YOUR RIGHTS - IIPR

NEW YORK, NY / ACCESS NEWSWIRE / MARCH 18, 2025 / IF YOU SUFFERED A LOSS ON YOUR INNOVATIVE INDUSTRIAL PROPERTIES, INC. (NYSE:IIPR) INVESTMENT AND WANT TO LEARN ABOUT A POTENTIAL RECOVERY UNDER THE FEDERAL SECURITIES LAWS, FOLLOW THE LINK BELOW FOR MORE INFORMATION: HTTPS://ZLK.COM/PSLRA-1/INNOVATIVE-INDUSTRIAL-PROPERTIES-INC-LAWSUIT-SUBMISSION-FORM?PRID=136926&WIRE=1 OR CONTACT JOSEPH E. LEVI, ESQ.

Innovative Industrial Properties

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Dividends

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Diversification by Country

Historical Scores

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