United States

AFFO (TTM)

AFFO/share (TTM)

AFFO/share Guidance

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 Q2

Years since IPO: 7/15,
Adjusted FFO Growth: 10/15,
Adjusted FFO/share Growth: 15/20,
Dividend Growth: 15/20,
Payout Ratio: 5/15,
Debt: 15/15
            

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
            

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

Even with a current downturn in marijuana stock performance, the long-term outlook for cannabis investing remains promising. For financial investors with a patient, strategic mindset, the sector's current pullback may offer one of the most tempting buying opportunities in years. Market sentiment has been dulled by halting federal reform and overhyped early growth expectations. Along with underlying industry fundamentals continuing to improve, creating a solid foundation for future returns.

Why Marijuana Stocks Could Deliver Big Returns Despite the 2025 Market Pullback

Key Points in This Article: Ultra-high yield stocks with dividends above 10% offer significant income potential for investors, especially in volatile markets, driven by sectors like REITs and covered call ETFs.

4 Ultra-High-Yield Dividend Stocks Paying 10%+ You Can Trust

In the U.S., the cannabis industry's growth remains strong and promising. The legal market was worth about $38.5 billion in 2024. It is forecasted to reach nearly $76.4 billion by 2030. That equates to an 11.5 percent compound annual growth rate. In addition, some forecasts see market expansion through 2029 at a whopping 37 percent CAGR. Meanwhile, federal policy remains dynamic. The DEA will have started rescheduling cannabis from Schedule I to III by late 2025. However, broader federal legalization seems delayed.

Cannabis REITs Set to Benefit From Industry Growth in 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

The U.S. cannabis industry continues to expand rapidly, creating strong momentum for related investments. In 2025, the market is expected to surpass $44 billion in value. Over the next five years, projections suggest it could reach more than $76 billion. This steady growth is driven by rising consumer demand and ongoing legalization across many states. Currently, nearly half of U.S. adults have tried cannabis at least once. Meanwhile, almost 80% of Americans live near a licensed dispensary. The industry also supports hundreds of thousands of jobs and contributes billions to the economy each year. Because of this, investors are watching cannabis real estate investment trusts (REITs) for potential gains.

2025's Best Cannabis REITs for Building Wealth Over Time

Is it safe to invest in marijuana stocks with the entire sector trading at all-time lows? If the legal market is profitable and companies are performing well, why are the top marijuana stocks not trading? These are just some of the questions that plague investors and shareholders. The answer is not so simple, which can make things a bit more complex to understand. Although legal cannabis as a business is thriving and growing in all areas, this has not translated to the public sector so well.

3 Marijuana Stocks For Cannabis Real Estate Investors

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), 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.

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

INVESTORS CAN CONTACT THE LAW FIRM AT NO COST TO LEARN MORE ABOUT RECOVERING THEIR LOSSES

INNOVATIVE INDUSTRIAL PROPERTIES, INC. INVESTORS: PLEASE CONTACT THE PORTNOY LAW FIRM TO RECOVER YOUR LOSSES. MARCH 18, 2025 DEADLINE TO FILE LEAD PLAINTIFF MOTION

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=136849&WIRE=1 OR CONTACT JOSEPH E. LEVI, ESQ.

INNOVATIVE INDUSTRIAL PROPERTIES, INC. SUED FOR SECURITIES LAW VIOLATIONS - INVESTORS SHOULD CONTACT LEVI & KORSINSKY FOR MORE INFORMATION - IIPR

NEW YORK , MARCH 18, 2025 /PRNEWSWIRE/ -- LEVI &KORSINSKY, LLP NOTIFIES INVESTORS IN INNOVATIVE INDUSTRIAL PROPERTIES, INC. ("INNOVATIVE INDUSTRIAL PROPERTIES" OR THE "COMPANY") (NYSE: IIPR) OF A CLASS ACTION SECURITIES LAWSUIT. CLASS DEFINITION: THE LAWSUIT SEEKS TO RECOVER LOSSES ON BEHALF OF INNOVATIVE INDUSTRIAL PROPERTIES INVESTORS WHO WERE ADVERSELY AFFECTED BY ALLEGED SECURITIES FRAUD BETWEEN FEBRUARY 27, 2024 AND DECEMBER 19, 2024.

NEW YORK, NY / ACCESS NEWSWIRE / MARCH 16, 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=136279&WIRE=1 OR CONTACT JOSEPH E. LEVI, ESQ.

INNOVATIVE INDUSTRIAL PROPERTIES, INC. SUED FOR SECURITIES LAW VIOLATIONS - CONTACT LEVI & KORSINSKY BEFORE MARCH 18, 2025 TO DISCUSS YOUR RIGHTS - IIPR

Innovative Industrial Properties

IIPR

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Price

Dividends

Yield

Dividends

No items found.

Financials Overview

Financial Reports

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Diversification by Property Type

Diversification by Tenant Industry

Diversification by Country

Press Releases

Related News, Articles and Videos

Historical Scores

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IIPR