IIPR Stock: Price, Forecast, Financials & AI Analysis

High

Open

VWAP

Vol

Mkt Cap

Low

Amount

EV/EBITDA(TTM)

Total Shares

EV/OCF(TTM)

P/S(TTM)

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q4

FY2026Q1

FY2026Q2

66.16M

-13.79%

1.047

-23.04%

65.73M

-8.35%

1.000

-2.91%

66.13M

+5.14%

1.015

+18.02%

Estimates Revision

The market is revising Upward the revenue expectations for Innovative Industrial Properties, Inc. (IIPR) for FY2025, with the revenue forecasts being adjusted by 1.2% over the past three months. During the same period, the stock price has changed by -5.21%.

Revenue Estimates for FY2025

Revise Upward

+1.2%

In Past 3 Month

EPS Estimates for FY2025

Revise Upward

+4.68%

In Past 3 Month

Stock Price

Go Down

-5.21%

In Past 3 Month

4 Analyst Rating

Wall Street analysts forecast IIPR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IIPR is 61.33 USD with a low forecast of 44.00 USD and a high forecast of 90.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

1 Buy

2 Hold

1 Sell

Hold

Current: 0.000

Low

44.00

Averages

61.33

High

90.00

Current: 0.000

Low

44.00

Averages

61.33

High

90.00

Piper Sandler

Alexander Goldfarb

Underweight

maintain

$43 -> $44

2025-11-05

Reason

Piper Sandler

Alexander Goldfarb

Price Target

$43 -> $44

2025-11-05

maintain

Underweight

Reason

Piper Sandler analyst Alexander Goldfarb raised the firm's price target on Innovative Industrial Properties to $44 from $43 and keeps an Underweight rating on the shares. The firm continues to harbor downside risk concerns over the company's investment in privately-held life science upscale developer IQHQ, given both sectors still are working through overcapacity issues.

Wolfe Research

Andrew Rosivach

Outperform

Peer Perform

downgrade

2025-07-02

Reason

Wolfe Research

Andrew Rosivach

Price Target

2025-07-02

downgrade

Outperform

Peer Perform

Reason

Wolfe Research analyst Andrew Rosivach downgraded Innovative Industrial Properties to Peer Perform from Outperform and removed the firm's price target on the shares. Wolfe says that recent share price outperformance places the stock near the midpoint of its sensitivity analysis, which the firm's prior price target was based upon, implying fair value given ongoing cannabis industry pressures. Overall, Wolfe finds the stock near its fair value given associated risks.

Piper Sandler

Alexander Goldfarb

Sell

Maintains

$55 → $45

2025-04-15

Reason

Piper Sandler

Alexander Goldfarb

Price Target

$55 → $45

2025-04-15

Maintains

Sell

Reason

Piper Sandler analyst Alexander Goldfarb lowered the firm's price target on Innovative Industrial Properties to $45 from $55 and keeps an Underweight rating on the shares. Ahead of Q1 2025 earnings, the firm is adjusting estimates for recent company announcements and assumption revisions. Piper says its Innovative Industrial Properties update reflects its best estimation for replacing the rents impacted by recent tenant credit issues.

Piper Sandler

Alexander Goldfarb

Sell

Maintains

$60 → $55

2025-03-31

Reason

Piper Sandler

Alexander Goldfarb

Price Target

$60 → $55

2025-03-31

Maintains

Sell

Reason

Piper Sandler analyst Alexander Goldfarb lowered the firm's price target on Innovative Industrial Properties to $55 from $60 and keeps an Underweight rating on the shares. The firm notes the company announced more tenant defaults post-close on Friday, which represents its effort to clear the deck of delinquencies as management's patience seems to now be gone. Overcapacity, illicit market, and cross state border sales remain issues, now exacerbated by the pending outsized industry debt maturities in 2026, which stems from 2021's ultra-low rates, Piper adds.

Compass Point

Merrill Ross

Hold

Strong Sell

Downgrades

$60 → $50

2025-03-31

Reason

Compass Point

Merrill Ross

Price Target

$60 → $50

2025-03-31

Downgrades

Hold

Strong Sell

Reason

Compass Point downgraded Innovative Industrial Properties to Sell from Neutral with a price target of $50, down from $61. The company reported in a regulatory filing that it declared certain tenants in default and declared a default on a mortgage loan to Medical Investor Holdings, the analyst tells investors in a research note. The firm says that unless the four tenants cure the defaults, Innovative's Q2 earnings will be impacted, but not by more than 2%. Compass thinks these tenants are not likely to cure their default, and that Innovative will resort to taking control of the properties with the intent of re-leasing them. It believes the process will be protracted and that regaining possession of the properties will be expensive.

Compass Point

Merrill Ross

Hold

Maintains

$78 → $60

2025-03-18

Reason

Compass Point

Merrill Ross

Price Target

$78 → $60

2025-03-18

Maintains

Hold

Reason

Compass Point lowered the firm's price target on Innovative Industrial Properties to $60 from $78 and keeps a Neutral rating on the shares. The firm is lowering its AFFO estimate to reflect the PharmaCann default after the company filed an 8K on March 14 that reported that its largest tenant, PharmaCann, failed to make March lease payments on properties under a recently renegotiated lease. This is "quite a blow," and reduces monthly revenues by $2.7M, or 11% annually, the analyst tells investors.

Valuation Metrics

The current forward P/E ratio for Innovative Industrial Properties Inc (IIPR.N) is 12.06, compared to its 5-year average forward P/E of 22.69. For a more detailed relative valuation and DCF analysis to assess Innovative Industrial Properties Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

5Y Average PE

22.69

Current PE

12.06

Overvalued PE

33.53

Undervalued PE

11.85

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

5Y Average EV/EBITDA

14.87

Current EV/EBITDA

8.95

Overvalued EV/EBITDA

21.36

Undervalued EV/EBITDA

8.39

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

5Y Average PS

11.60

Current PS

5.24

Overvalued PS

17.63

Undervalued PS

5.57

Financials

Annual

Quarterly

N/A

Total Revenue

N/A

Operating Profit

N/A

Net Income after Tax

N/A

EPS - Diluted

N/A

Free Cash Flow

N/A

Gross Profit Margin - %

N/A

Net Margin - %

Trading Trends

Insider

Insiders are Neutral. There are no significant trading trends over the last month.

Sold

Bought

Hedge Fund

Hedge Funds are Neutral. There are no significant trading trends over the last quarter.

Sold

Bought

Congress Trading

Congress are Neutral. There are no significant trading trends over the last month.

Sold

Bought

Insider

Insiders are Neutral. There are no significant trading trends over the last month.

Sold

Bought

IIPR News & Events

Events Timeline

No data

News

8.0

2025-12-26NASDAQ.COM

Innovative Industrial Properties Inc. Projects 15% Annual Yield Based on Dividend History

8.0

2025-12-15Newsfilter

Innovative Industrial Properties Declares Q4 2025 Dividend of $1.90 per Share

8.0

2025-12-15SeekingAlpha

Innovative Industrial Properties announces a dividend of $1.90

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Frequently Asked Questions

What is Innovative Industrial Properties Inc (IIPR) stock price today?

The current price of IIPR is 50.6 USD — it has increased 1.48 % in the last trading day.

What is Innovative Industrial Properties Inc (IIPR)'s business?

Innovative Industrial Properties, Inc. is an internally managed real estate investment trust (REIT). The Company is focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. It acquires its properties through sale-leaseback transactions and third-party purchases. The Company owns approximately 109 properties comprising an aggregate of 9.0 million rentable square feet (including 666,000 rentable square feet under development/redevelopment) in 19 states, including Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington. Its subsidiary is IIP Operating Partnership, LP (Operating Partnership).

What is the price predicton of IIPR Stock?

What is Innovative Industrial Properties Inc (IIPR)'s revenue for the last quarter?

Innovative Industrial Properties Inc revenue for the last quarter amounts to 64.69M USD, decreased -15.47 % YoY.

What is Innovative Industrial Properties Inc (IIPR)'s earnings per share (EPS) for the last quarter?

Innovative Industrial Properties Inc. EPS for the last quarter amounts to 0.97 USD, decreased -29.20 % YoY.

What changes have occurred in the market's expectations for Innovative Industrial Properties Inc (IIPR)'s fundamentals?

How many employees does Innovative Industrial Properties Inc (IIPR). have?

Innovative Industrial Properties Inc (IIPR) has 22 emplpoyees as of January 10 2026.

What is Innovative Industrial Properties Inc (IIPR) market cap?

Today IIPR has the market capitalization of 1.42B USD.