Innovative Industrial Properties, Inc. IIPR | NYSE
$52.51
-$0.69 | -1.30%
TREND SIGNAL:
|2026-08-03
|2026-08-03
Company Overview:
Market Cap:
$1.47B
Trailing PE:
11.9x
FWD PE *:
13.5x
Payout Ratio (TTM):
160.7%
52-Week Range:
$44.58 - $65.38
* Forward PE is based on street estimates.
9.9 Year IIPR Performance Metrics:
Total Return (with DRIP):
414.2% (17.99% CAGR)
Total Return (no DRIP):
434.8% (18.46% CAGR)
Share Price:
174.2% (10.73% CAGR)
Yield on Cost (with DRIP):
74.43%
Total Invested:
$10,000
Total Value (with DRIP):
$51,424
Total Return $ (with DRIP):
$41,424
Dividend Increase:
1,167% (31.56% CAGR)
Dividend Yield (FWD):
14.47% ($7.60)
IIPR 9.9-yr Total Return ($10K invested)
1M
3M
6M
YTD
1Y
3Y
5Y
10Y
IIPR Share Price
1M
3M
6M
YTD
1Y
3Y
5Y
10Y
All
IIPR Price CAGR:1Y: -2.23%2Y: -37.77%5Y: -26.15%10Y: 10.76%
IIPR Dividend Charts
IIPR Dividend CAGR:1Y: 0.00%2Y: 0.00%5Y: 4.84%10Y: 31.56%
IIPR Dividend Payout Ratio CAGR:1Y: -38.66%2Y: 2.25%5Y: 3.27%10Y: 0.00%
IIPR Dividend to FCF Ratio CAGR:1Y: 11.49%2Y: 24.93%5Y: 0.00%10Y: 0.00%
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IIPR Financials: Earnings, Revenue, Cash Flow, Ebitda, Cash/Debt, Shares Float, etc:
IIPR Revenue CAGR:1Y: 0.67%2Y: -10.92%5Y: 5.32%10Y: 69.63%
IIPR EPS CAGR:1Y: 58.14%2Y: -2.82%5Y: 3.06%10Y: 0.00%
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IIPR Net Income CAGR:1Y: 68.51%2Y: 2.19%5Y: 8.72%10Y: 0.00%
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IIPR EBITDA CAGR:1Y: 20.80%2Y: -3.70%5Y: 6.65%10Y: 35.43%
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IIPR Free Cash Flow CAGR:1Y: -7.29%2Y: -16.36%5Y: 0.00%10Y: 0.00%
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IIPR Free Cash Flow / Share CAGR:1Y: -3.01%2Y: -13.95%5Y: 0.00%10Y: 0.00%
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IIPR Operating Income CAGR:1Y: 2.43%2Y: -16.39%5Y: -2.11%10Y: 0.00%
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IIPR Gross Profit CAGR:1Y: 0.17%2Y: -12.28%5Y: 3.01%10Y: 72.98%
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IIPR Shares Outstanding CAGR:1Y: 5.91%2Y: 2.45%5Y: 2.77%10Y: 34.96%
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IIPR Share Buybacks CAGR:1Y: 348.93%2Y: 0.00%5Y: 0.00%10Y: 0.00%
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IIPR Stock-Based Comp CAGR:1Y: 5.76%2Y: -19.59%5Y: 5.80%10Y: 0.00%
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IIPR Expenses CAGR:1Y: 0.00%2Y: 0.00%5Y: -49.28%10Y: 0.00%
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IIPR Revenue CAGR:1Y: 0.67%2Y: -10.92%5Y: 5.32%10Y: 69.63%
Revenue, EPS, Net Income & Ebitda - Estimates VS Actual:
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IIPR Actual Revenue CAGR:1Y: 0.67%2Y: -10.92%5Y: 5.32%10Y: 69.63%
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IIPR Actual EPS CAGR:1Y: 58.14%2Y: -2.82%5Y: 3.06%10Y: 0.00%
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IIPR Actual Net Income CAGR:1Y: 68.51%2Y: 2.19%5Y: 8.72%10Y: 0.00%
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IIPR Actual EBITDA CAGR:1Y: 20.80%2Y: -3.70%5Y: 6.65%10Y: 35.43%
Ratios, Profit Margins & Return on Capital:
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IIPR Net Profit Margin CAGR:1Y: 67.38%2Y: 14.72%5Y: 3.23%10Y: 0.00%
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IIPR Gross Profit Margin CAGR:1Y: 12.26%2Y: 4.60%5Y: 0.20%10Y: 3.21%
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IIPR Price to Earnings CAGR:1Y: -29.75%2Y: -21.57%5Y: -22.36%10Y: 0.00%
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IIPR Price To Sales Ratio CAGR:1Y: 13.56%2Y: -14.57%5Y: -21.50%10Y: -11.00%
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IIPR Return on Capital Employed CAGR:1Y: 39.26%2Y: -0.93%5Y: 1.76%10Y: 0.00%
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IIPR Return on Invested Capital CAGR:1Y: 34.20%2Y: -2.74%5Y: 3.66%10Y: 0.00%
IIPR Dividends Info:
Annual Dividend:
$7.6
Forward Yield:
14.47%
Ex-Dividend Date:
2026-09-30
Lifetime Dividends / Share:
$51.81
IIPR Dividend History: Dates, Payments & Yield list
Below is a schedule of all IIPR dividend payments, ex-dates, share price on the day of the payment as well as the annualized yield & forward yield
| Ex-Date | Payment Date | Amount | Yield | Forward Yield | Price on Ex-Date |
|---|---|---|---|---|---|
| 09/30/2026 | 10/15/2026 | $1.900 | 14.43% | 14.29% | $53.20 |
| 06/30/2026 | 07/15/2026 | $1.900 | 12.26% | 11.95% | $63.58 |
| 03/31/2026 | 04/15/2026 | $1.900 | 15.15% | 14.64% | $51.90 |
| 12/31/2025 | 01/15/2026 | $1.900 | 16.05% | 14.96% | $50.81 |
| 09/30/2025 | 10/15/2025 | $1.900 | 14.18% | 13.62% | $55.81 |
| 06/30/2025 | 07/15/2025 | $1.900 | 13.76% | 14.08% | $53.99 |
| 03/31/2025 | 04/15/2025 | $1.900 | 14.05% | 15.06% | $50.48 |
| 12/31/2024 | 01/15/2025 | $1.900 | 11.4% | 11.49% | $66.15 |
| 09/30/2024 | 10/15/2024 | $1.900 | 5.65% | 5.68% | $133.78 |
| 06/27/2024 | 07/15/2024 | $1.900 | 6.91% | 6.41% | $118.63 |
| 06/28/2024 | 07/15/2024 | $1.900 | 6.96% | 6.41% | $118.63 |
| 03/27/2024 | 04/15/2024 | $1.820 | 6.98% | 7.53% | $96.72 |
| 12/28/2023 | 01/12/2024 | $1.820 | 7.08% | 7.81% | $93.21 |
| 09/28/2023 | 10/13/2023 | $1.800 | 9.82% | 9.54% | $75.48 |
| 06/29/2023 | 07/14/2023 | $1.800 | 9.69% | 9.5% | $75.75 |
| 03/30/2023 | 04/14/2023 | $1.800 | 9.66% | 10.18% | $70.74 |
| 12/29/2022 | 01/13/2023 | $1.800 | 7.07% | 6.43% | $111.94 |
| 09/29/2022 | 10/14/2022 | $1.800 | 8.17% | 7.99% | $90.12 |
| 06/29/2022 | 07/15/2022 | $1.750 | 6.33% | 7.31% | $95.70 |
| 03/30/2022 | 04/14/2022 | $1.750 | 3.42% | 4.13% | $169.68 |
| 12/30/2021 | 01/14/2022 | $1.500 | 2.3% | 2.86% | $209.88 |
| 09/29/2021 | 10/15/2021 | $1.500 | 2.6% | 2.51% | $239.05 |
| 06/29/2021 | 07/15/2021 | $1.400 | 2.89% | 2.75% | $203.93 |
| 03/30/2021 | 04/15/2021 | $1.320 | 2.99% | 2.88% | $183.54 |
| 12/30/2020 | 01/15/2021 | $1.240 | 2.7% | 2.62% | $189.30 |
| 09/29/2020 | 10/15/2020 | $1.170 | 3.75% | 3.57% | $131.25 |
| 06/29/2020 | 07/15/2020 | $1.060 | 4.69% | 4.54% | $93.44 |
| 03/30/2020 | 04/15/2020 | $1.000 | 4.99% | 5.62% | $71.22 |
| 12/30/2019 | 01/15/2020 | $1.000 | 5.45% | 4.84% | $82.72 |
| 09/27/2019 | 10/15/2019 | $0.780 | 3.26% | 3.99% | $78.21 |
| 06/27/2019 | 07/15/2019 | $0.600 | 2.01% | 1.88% | $127.42 |
| 03/28/2019 | 04/15/2019 | $0.450 | 2.13% | 2.16% | $83.35 |
| 12/28/2018 | 01/15/2019 | $0.350 | 3.05% | 2.64% | $53.12 |
| 09/27/2018 | 10/15/2018 | $0.350 | 3.01% | 3.26% | $42.99 |
| 06/28/2018 | 07/16/2018 | $0.250 | 2.83% | 3.06% | $32.72 |
| 03/28/2018 | 04/16/2018 | $0.250 | 3.8% | 3.01% | $33.23 |
| 12/28/2017 | 01/16/2018 | $0.250 | 3.49% | 2.96% | $33.79 |
| 09/28/2017 | 10/13/2017 | $0.150 | 3.26% | 3.11% | $19.32 |
| 06/28/2017 | 07/14/2017 | $0.150 | 3.55% | 3.66% | $16.40 |
Projected Future Returns & Dividends for IIPR
Based on past 9.9-year performance, here are IIPR growth metrics:
Share price CAGR of +10.73%
Dividend CAGR of +31.57%
Using IIPR CAGR metrics, we can estimate that your initial $10000 investment, over the next 10 years, should grow as follows:
| IIPR (DRIP) | IIPR - No DRIP | |
|---|---|---|
| Current Price | $52.51 | $52.51 |
| Start Shares | 190.44 | 190.44 |
| Start Value | $10,000 | $10,000 |
| After 10 years: | ||
| Final Share Count | 5,041.77 | 190.44 |
| Dividends Payment | $25.02 | $25.02 |
| Annual Dividends | $504,500 | $19,056 |
| Yield on cost | 5,045.00% | 190.56% |
| Share Price | $145.46 | $145.46 |
| Total Dividends | $564,463 | $64,062 |
| Final Value | $733,371 | $91,764 |
Estimated Future Value + Dividends - IIPR
NOTE: Above numbers are our estimate based on IIPR's Dividend and Price CAGR over past 9.9 years.
These numbers should only be considered as "potential future returns"! DRIP assumes reinvesting dividends; No-DRIP assumes collecting dividends as cash.
We cannot guarantee that your actual returns will meet these estimates.
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Company Info
Innovative Industrial Properties, Inc. (IIPR) had its IPO on 2016-12-01, and is traded on NYSE stock exchange.
Innovative Industrial Properties, Inc. is an independently managed, Maryland-based corporation primarily focused on acquiring, owning, and overseeing unique real estate assets. These properties are subsequently leased to experienced, state-licensed operators who utilize them for their regulated medical cannabis facilities. For tax purposes, the company adopted the structure of a Real Estate Investment Trust (REIT) starting from the end of 2017.
IIPR website: https://www.innovativeindustrialproperties.com
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DCF Model — IIPR
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vs current price $52.51
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Cash flow & implied price by year
FCF is negative or missing for this company (common for banks) — the model discounts EPS instead.
EPS is negative or missing for this company — Simple mode uses free cash flow per share instead.
Free cash flow today
—
grows for the next years
Then mature
—
every future dollar counted back to today
Pile of today-dollars
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÷ shares
Implied price path
| Year | FCF | Implied price |
|---|
Sensitivity — fair value: growth ↓ × target return →
