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 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: 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
            

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

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

Black Swift Group LLC acquired a new position in shares of Innovative Industrial Properties, Inc. (NYSE: IIPR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,795 shares of the company's stock, valued at approximately $953,000. Black Swift Group

Black Swift Group LLC Makes New $953,000 Investment in Innovative Industrial Properties, Inc. $IIPR

Pre-Market Stock Futures: Futures are down big as oil shoots higher on Tuesday. After a big early morning sell-off on Monday, the buy-the-dip buyers returned with a vengeance, and by the end of the Monday session, all of the major indices had recovered from the early heavy selling. The Dow Jones Industrial Average, which was... Here Are Tuesday's Top Wall Street Analyst Research Calls: Block, CrowdStrike, Fortinet, MongoDB, Mosaic, Palo Alto Networks, Unity Software, and More.

Here Are Tuesday’s Top Wall Street Analyst Research Calls: Block, CrowdStrike, Fortinet, MongoDB, Mosaic, Palo Alto Networks, Unity Software, and More

The cannabis sector continues to evolve in early 2026. However, volatility remains a defining feature. Multi-state operators still face pricing pressure. At the same time, capital remains tight across the industry. Therefore, many investors are turning toward ancillary cannabis stocks instead of plant-touching companies.

High-Yield Cannabis REITs to Watch in March 2026

Revenue and FFO dropped 13%, but the company beat analysts' expectations by receiving proceeds from litigation and re-leasing numerous properties. The company also continued to fund its $270 million commitment to IQHQ, as it diversifies into the life sciences industry.

Why Innovative Industrial Properties Stock Is Rising Higher This Week

Investors were clearly satisfied with the company's fourth-quarter performance. It notched decent, if not overwhelming, beats on both the top and bottom lines.

Why Innovative Industrial Properties Stock Zoomed Nearly 11% Higher Today

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

The company's revenue declined in both of the past two quarters. Innovative Industrial Properties is diversifying its tenant base.

4 Things You Need to Know If You're Thinking of Buying Innovative Industrial Properties Today

The U.S. cannabis industry continues to evolve in 2026. Although operators face margin pressure, the long-term outlook remains compelling. Industry sales are projected to exceed $40 billion in the coming years. Meanwhile, additional state-level reforms continue to expand access. However, federal reform still remains uncertain. Therefore, investors are looking for alternative ways to gain exposure.

Cannabis REITs and Lenders to Watch as the Industry Stabilizes

Innovative Industrial Properties (NYSE: IIPR - Get Free Report) and Alexander's (NYSE: ALX - Get Free Report) are both small-cap finance companies, but which is the superior stock? We will compare the two companies based on the strength of their earnings, valuation, profitability, risk, analyst recommendations, dividends and institutional ownership. Institutional and Insider Ownership 70.6% of Innovative

Alexander’s (NYSE:ALX) versus Innovative Industrial Properties (NYSE:IIPR) Critical Comparison

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

Innovative Industrial Properties' stock has declined significantly since the third quarter of 2024. Factors that could propel a rebound in 2026 include a return to revenue growth and regulatory changes.

Meet the 15.7% Yield Dividend Stock That Could Soar in 2026

The cannabis industry continues to evolve as legalization expands and regulations slowly improve. While many investors focus on plant-touching companies, others prefer lower-risk exposure. This is where cannabis REITs become attractive. These companies generate revenue by owning or financing real estate associated with licensed cannabis operators. As a result, they avoid direct involvement in cannabis production or sales. Instead, they benefit from long-term leases and structured financing agreements.

3 Cannabis REIT Stocks Offering Income Potential in Q1 2026

Innovative Industrial Properties, Inc. (NYSE: IIPR - Get Free Report) has been given an average rating of "Reduce" by the six analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to

Innovative Industrial Properties, Inc. (NYSE:IIPR) Receives $68.20 Average PT from Analysts

Innovative Industrial Properties (NYSE: IIPR - Get Free Report) and Whitestone REIT (NYSE: WSR - Get Free Report) are both small-cap finance companies, but which is the superior investment? We will contrast the two businesses based on the strength of their dividends, risk, earnings, institutional ownership, profitability, valuation and analyst recommendations. Profitability This table compares Innovative Industrial

Reviewing Whitestone REIT (NYSE:WSR) and Innovative Industrial Properties (NYSE:IIPR)

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

The cannabis sector continues evolving as capital markets slowly reopen. However, volatility remains high for plant-touching cannabis operators. Because of that, many investors look toward cannabis real estate investment trusts. These companies earn income through rent or interest, not cannabis sales. As a result, revenue can be more predictable during uncertain periods. Still, not all cannabis REITs follow the same strategy. Some focus on property ownership, while others specialize in lending. Therefore, understanding each model is essential before investing. January 2026 is an important month as investors reassess income opportunities. Below are three cannabis REITs investors are actively watching this year.

3 Cannabis REITs Investors Are Watching Closely in January 2026

Innovative Industrial Properties (NYSE: IIPR - Get Free Report) and Healthpeak Properties (NYSE: DOC - Get Free Report) are both finance companies, but which is the better stock? We will contrast the two businesses based on the strength of their profitability, risk, institutional ownership, valuation, dividends, analyst recommendations and earnings. Analyst Recommendations This is a breakdown of

Head-To-Head Survey: Innovative Industrial Properties (NYSE:IIPR) vs. Healthpeak Properties (NYSE:DOC)

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 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

IIPR

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Financial Reports

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Diversification by Property Type

Diversification by Tenant Industry

Diversification by Country

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Diversification by Property Type

Diversification by Tenant Industry

Diversification by Country

Historical Scores

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