(IIPR) Innovative Industrial - Overview
Sector: Real EstateIndustry: REIT - Industrial | Exchange NYSE (USA) | Currency USD | Market Cap: 1.473m | Total Return -10.1% in 12m
Stock: Industrial Properties, Real Estate, Life Science
Total Rating 34
Risk 29
Buy Signal -0.81
| Risk 5d forecast | |
|---|---|
| Volatility | 40.0% |
| Relative Tail Risk | -12.1% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.14 |
| Alpha | -17.45 |
| Character TTM | |
|---|---|
| Beta | 0.377 |
| Beta Downside | 1.020 |
| Drawdowns 3y | |
|---|---|
| Max DD | 62.92% |
| CAGR/Max DD | -0.06 |
EPS (Earnings per Share)
Revenue
Description: IIPR Innovative Industrial February 26, 2026
Innovative Industrial Properties, Inc. (NYSE: IIPR) is a publicly traded REIT that acquires, owns, and manages purpose-built industrial facilities serving the life-science and cannabis sectors.
As of the most recent quarter, IIPR reported a portfolio occupancy rate of roughly 96% and FY 2025 funds-from-operations (FFO) of $0.33 per share, supporting a dividend yield near 5.6% and a market capitalization of about $2.8 billion.
The company’s growth is closely tied to the expanding U.S. medical-cannabis market-projected to exceed $30 billion by 2027-and the broader demand for controlled-environment agriculture and biotech manufacturing space, both of which benefit from low-interest-rate financing conditions.
For a deeper dive, you might explore the ValueRay platform’s analyst tools.
Headlines to watch out for
- Cannabis industry growth fuels demand for specialized industrial properties
- State-level cannabis legalization expands potential tenant base
- Rising interest rates increase cost of capital for property acquisitions
- Regulatory changes in cannabis industry pose tenant default risks
- Competition for cannabis-related real estate intensifies
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 118.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -1.09 > 1.0 |
| NWC/Revenue: -102.1% < 20% (prev 11.75%; Δ -113.9% < -1%) |
| CFO/TA 0.08 > 3% & CFO 198.2m > Net Income 118.2m |
| Net Debt (346.1m) to EBITDA (212.5m): 1.63 < 3 |
| Current Ratio: 0.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (28.3m) vs 12m ago -0.88% < -2% |
| Gross Margin: 74.71% > 18% (prev 0.91%; Δ 7.38k% > 0.5%) |
| Asset Turnover: 11.20% > 50% (prev 12.97%; Δ -1.77% > 0%) |
| Interest Coverage Ratio: 6.86 > 6 (EBITDA TTM 212.5m / Interest Expense TTM 20.2m) |
Altman Z'' -1.42
| A: -0.11 (Total Current Assets 47.6m - Total Current Liabilities 319.3m) / Total Assets 2.37b |
| B: -0.13 (Retained Earnings -313.0m / Total Assets 2.37b) |
| C: 0.06 (EBIT TTM 138.4m / Avg Total Assets 2.37b) |
| D: -0.60 (Book Value of Equity -313.0m / Total Liabilities 522.9m) |
| Altman-Z'' Score: -1.42 = CCC |
Beneish M -3.05
| DSRI: 0.85 (Receivables 16.8m/22.8m, Revenue 266.0m/308.5m) |
| GMI: 1.21 (GM 74.71% / 90.77%) |
| AQI: 1.06 (AQ_t 0.98 / AQ_t-1 0.93) |
| SGI: 0.86 (Revenue 266.0m / 308.5m) |
| TATA: -0.03 (NI 118.2m - CFO 198.2m) / TA 2.37b) |
| Beneish M-Score: -3.05 (Cap -4..+1) = AA |
What is the price of IIPR shares?
As of March 29, 2026, the stock is trading at USD 50.95 with a total of 297,121 shares traded.
Over the past week, the price has changed by -1.28%, over one month by -3.80%, over three months by +6.26% and over the past year by -10.14%.
Over the past week, the price has changed by -1.28%, over one month by -3.80%, over three months by +6.26% and over the past year by -10.14%.
Is IIPR a buy, sell or hold?
Innovative Industrial has received a consensus analysts rating of 3.00.
Therefor, it is recommend to hold IIPR.
- StrongBuy: 1
- Buy: 1
- Hold: 2
- Sell: 1
- StrongSell: 1
What are the forecasts/targets for the IIPR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 58.8 | 15.3% |
| Analysts Target Price | 58.8 | 15.3% |
IIPR Fundamental Data Overview March 27, 2026
P/E Trailing = 13.3206
P/E Forward = 11.7096
P/S = 5.5382
P/B = 0.8066
Revenue TTM = 266.0m USD
EBIT TTM = 138.4m USD
EBITDA TTM = 212.5m USD
Long Term Debt = 290.6m USD (from longTermDebt, last quarter)
Short Term Debt = 319.3m USD (from shortTermDebt, last quarter)
Debt = 393.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 346.1m USD (from netDebt column, last quarter)
Enterprise Value = 1.82b USD (1.47b + Debt 393.7m - CCE 47.6m)
Interest Coverage Ratio = 6.86 (Ebit TTM 138.4m / Interest Expense TTM 20.2m)
EV/FCF = 9.18x (Enterprise Value 1.82b / FCF TTM 198.2m)
FCF Yield = 10.90% (FCF TTM 198.2m / Enterprise Value 1.82b)
FCF Margin = 74.52% (FCF TTM 198.2m / Revenue TTM 266.0m)
Net Margin = 44.46% (Net Income TTM 118.2m / Revenue TTM 266.0m)
Gross Margin = 74.71% ((Revenue TTM 266.0m - Cost of Revenue TTM 67.3m) / Revenue TTM)
Gross Margin QoQ = 32.41% (prev 87.71%)
Tobins Q-Ratio = 0.77 (Enterprise Value 1.82b / Total Assets 2.37b)
Interest Expense / Debt = 1.71% (Interest Expense 6.73m / Debt 393.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = 109.4m (EBIT 138.4m * (1 - 21.00%))
Current Ratio = 0.15 (Total Current Assets 47.6m / Total Current Liabilities 319.3m)
Debt / Equity = 0.21 (Debt 393.7m / totalStockholderEquity, last quarter 1.85b)
Debt / EBITDA = 1.63 (Net Debt 346.1m / EBITDA 212.5m)
Debt / FCF = 1.75 (Net Debt 346.1m / FCF TTM 198.2m)
Total Stockholder Equity = 1.88b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.98% (Net Income 118.2m / Total Assets 2.37b)
RoE = 6.29% (Net Income TTM 118.2m / Total Stockholder Equity 1.88b)
RoCE = 6.38% (EBIT 138.4m / Capital Employed (Equity 1.88b + L.T.Debt 290.6m))
RoIC = 5.05% (NOPAT 109.4m / Invested Capital 2.17b)
WACC = 6.05% (E(1.47b)/V(1.87b) * Re(7.31%) + D(393.7m)/V(1.87b) * Rd(1.71%) * (1-Tc(0.21)))
Discount Rate = 7.31% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 33.33 | Cagr: 0.04%
[DCF] Terminal Value 85.56% ; FCFF base≈208.8m ; Y1≈197.9m ; Y5≈188.6m
[DCF] Fair Price = 184.8 (EV 5.54b - Net Debt 346.1m = Equity 5.20b / Shares 28.1m; r=6.05% [WACC]; 5y FCF grow -6.77% → 3.0% )
EPS Correlation: -71.23 | EPS CAGR: -5.68% | SUE: 0.96 | # QB: 2
Revenue Correlation: -15.44 | Revenue CAGR: 0.88% | SUE: 0.39 | # QB: 0
EPS next Quarter (2026-06-30): EPS=1.06 | Chg7d=+0.000 | Chg30d=+0.045 | Revisions Net=+0 | Analysts=3
EPS current Year (2026-12-31): EPS=4.30 | Chg7d=+0.000 | Chg30d=+0.007 | Revisions Net=-1 | Growth EPS=+9.4% | Growth Revenue=+1.0%
EPS next Year (2027-12-31): EPS=4.79 | Chg7d=+4.790 | Chg30d=+4.790 | Revisions Net=+0 | Growth EPS=+11.4% | Growth Revenue=+3.9%
[Analyst] Revisions Ratio: +0.00 (1 Up / 1 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 0.4% (Discount Rate 7.9% - Earnings Yield 7.5%)
[Growth] Growth Spread = +5.9% (Analyst 6.3% - Implied 0.4%)
P/E Forward = 11.7096
P/S = 5.5382
P/B = 0.8066
Revenue TTM = 266.0m USD
EBIT TTM = 138.4m USD
EBITDA TTM = 212.5m USD
Long Term Debt = 290.6m USD (from longTermDebt, last quarter)
Short Term Debt = 319.3m USD (from shortTermDebt, last quarter)
Debt = 393.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 346.1m USD (from netDebt column, last quarter)
Enterprise Value = 1.82b USD (1.47b + Debt 393.7m - CCE 47.6m)
Interest Coverage Ratio = 6.86 (Ebit TTM 138.4m / Interest Expense TTM 20.2m)
EV/FCF = 9.18x (Enterprise Value 1.82b / FCF TTM 198.2m)
FCF Yield = 10.90% (FCF TTM 198.2m / Enterprise Value 1.82b)
FCF Margin = 74.52% (FCF TTM 198.2m / Revenue TTM 266.0m)
Net Margin = 44.46% (Net Income TTM 118.2m / Revenue TTM 266.0m)
Gross Margin = 74.71% ((Revenue TTM 266.0m - Cost of Revenue TTM 67.3m) / Revenue TTM)
Gross Margin QoQ = 32.41% (prev 87.71%)
Tobins Q-Ratio = 0.77 (Enterprise Value 1.82b / Total Assets 2.37b)
Interest Expense / Debt = 1.71% (Interest Expense 6.73m / Debt 393.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = 109.4m (EBIT 138.4m * (1 - 21.00%))
Current Ratio = 0.15 (Total Current Assets 47.6m / Total Current Liabilities 319.3m)
Debt / Equity = 0.21 (Debt 393.7m / totalStockholderEquity, last quarter 1.85b)
Debt / EBITDA = 1.63 (Net Debt 346.1m / EBITDA 212.5m)
Debt / FCF = 1.75 (Net Debt 346.1m / FCF TTM 198.2m)
Total Stockholder Equity = 1.88b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.98% (Net Income 118.2m / Total Assets 2.37b)
RoE = 6.29% (Net Income TTM 118.2m / Total Stockholder Equity 1.88b)
RoCE = 6.38% (EBIT 138.4m / Capital Employed (Equity 1.88b + L.T.Debt 290.6m))
RoIC = 5.05% (NOPAT 109.4m / Invested Capital 2.17b)
WACC = 6.05% (E(1.47b)/V(1.87b) * Re(7.31%) + D(393.7m)/V(1.87b) * Rd(1.71%) * (1-Tc(0.21)))
Discount Rate = 7.31% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 33.33 | Cagr: 0.04%
[DCF] Terminal Value 85.56% ; FCFF base≈208.8m ; Y1≈197.9m ; Y5≈188.6m
[DCF] Fair Price = 184.8 (EV 5.54b - Net Debt 346.1m = Equity 5.20b / Shares 28.1m; r=6.05% [WACC]; 5y FCF grow -6.77% → 3.0% )
EPS Correlation: -71.23 | EPS CAGR: -5.68% | SUE: 0.96 | # QB: 2
Revenue Correlation: -15.44 | Revenue CAGR: 0.88% | SUE: 0.39 | # QB: 0
EPS next Quarter (2026-06-30): EPS=1.06 | Chg7d=+0.000 | Chg30d=+0.045 | Revisions Net=+0 | Analysts=3
EPS current Year (2026-12-31): EPS=4.30 | Chg7d=+0.000 | Chg30d=+0.007 | Revisions Net=-1 | Growth EPS=+9.4% | Growth Revenue=+1.0%
EPS next Year (2027-12-31): EPS=4.79 | Chg7d=+4.790 | Chg30d=+4.790 | Revisions Net=+0 | Growth EPS=+11.4% | Growth Revenue=+3.9%
[Analyst] Revisions Ratio: +0.00 (1 Up / 1 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 0.4% (Discount Rate 7.9% - Earnings Yield 7.5%)
[Growth] Growth Spread = +5.9% (Analyst 6.3% - Implied 0.4%)