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INNOVATIVE INDUSTRIAL PROPERTIES INC

Data quality: 100%
IIPR-PA
NYSE Financial Services Real Estate
$21.28
▲ $0.06 (0.28%)
Mkt Cap: 774.29 M
Price
$21.26
Mkt Cap
774.29 M
Day Range
—
52-Week Range
—
Volume
—
Open —
50D / 200D Avg
—
50D / 200D Avg
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Quick Summary

Key Takeaways

Revenue grew 6.78% annually over 5 years — modest growth
Earnings declined -26.85% over the past year
Net margin of 44.46% shows strong profitability
Generating 198.19 M in free cash flow
P/E of 6.55 — trading at a low valuation
Revenue growth is decelerating — 1Y growth trails 5Y average by 20.58%

Growth

Revenue Growth (5Y)
6.78%
Above sector avg (5.76%)
Revenue (1Y)-13.80%
Earnings (1Y)-26.85%
FCF Growth (3Y)-11.93%

Quality

Return on Equity
6.32%
Below sector avg (9.22%)
ROIC4.22%
Net Margin44.46%
Op. Margin46.67%

Safety

Debt / Equity
N/A
Current RatioN/A
Interest Coverage6.15

Valuation

PE (TTM)
6.55
Below sector avg (11.12)
P/B Ratio0.42
EV/EBITDA3.72
Dividend Yield10.58%

Price History

Financial Trends

Peer Comparison

vs Financial Services sector median (2698 peers)
Metric Stock Sector Median
P/E 6.6 11.1
P/B 0.4 1.2
ROE % 6.3 9.2
Net Margin % 44.5 9.4
Rev Growth 5Y % 6.8 5.8
D/E — 0.5

Analyst Price Target

No analyst coverage available

Earnings Estimates

Period EPS Est. Revenue Est. Analysts
FY2027 — 279.15 M —
FY2026 — 268.72 M —

Dividend History

9 yr streak

Yield

10.58%

Payout Ratio

57.25%

Growth (3Y)

0.00%

Growth (5Y)

0.00%

Ex-Date Payment Date Amount Yield
Mar 31, 2026 — $0.56 N/A
Dec 31, 2025 — $0.56 N/A
Sep 30, 2025 — $0.56 N/A
Jun 30, 2025 — $0.56 N/A
Mar 31, 2025 — $0.56 N/A
Dec 31, 2024 — $0.56 N/A
Sep 30, 2024 — $0.56 N/A
Jun 28, 2024 — $0.56 N/A
Mar 27, 2024 — $0.56 N/A
Dec 28, 2023 — $0.56 N/A
Sep 28, 2023 — $0.56 N/A
Jun 29, 2023 — $0.56 N/A
Mar 30, 2023 — $0.56 N/A
Dec 29, 2022 — $0.56 N/A
Sep 29, 2022 — $0.56 N/A
Jun 29, 2022 — $0.56 N/A
Mar 30, 2022 — $0.56 N/A
Dec 30, 2021 — $0.56 N/A
Sep 29, 2021 — $0.56 N/A
Jun 29, 2021 — $0.56 N/A

All Fundamental Metrics
Growth
Revenue Growth (1Y) -13.80% Revenue Growth (3Y) -7.30%
Earnings Growth (1Y) -26.85% Earnings Growth (3Y) -15.50%
Revenue Growth (5Y) 6.78% Earnings Growth (5Y) 0.92%
Profitability
Revenue (TTM) 265.96 M Net Income (TTM) 118.25 M
ROE 6.32% ROA 5.09%
Gross Margin N/A Operating Margin 46.67%
Net Margin 44.46% Free Cash Flow (TTM) 198.19 M
ROIC 4.22% FCF Growth (3Y) -11.93%
Safety
Debt / Equity N/A Current Ratio N/A
Interest Coverage 6.15 Asset Turnover 0.11
Working Capital N/A Tangible Book Value 1.86 B
Dividends
Dividend Yield 10.58% Payout Ratio 57.25%
Dividend Growth (3Y) 0.00% Dividend Growth (5Y) 0.00%
Consecutive Div Years 9 yrs
Valuation
P/E Ratio 6.55 Forward P/E N/A
P/B Ratio 0.42 P/S Ratio 2.91
PEG Ratio 7.12 Forward PEG N/A
EV/EBITDA 3.72 Fwd EV/EBITDA N/A
Forward P/S 2.77 Fwd Earnings Yield N/A
FCF Yield 25.60%
Market Cap 774.29 M Enterprise Value 737.62 M
Per Share
EPS (Diluted TTM) 3.93 Revenue / Share 7.30
FCF / Share 5.44 OCF / Share 5.44
EPS CAGR (1Y) -28.80% EPS CAGR (5Y) -3.60%
EPS CAGR (10Y) N/A
Efficiency
CapEx / Revenue N/A FCF Conversion 167.61%
SBC-Adj. FCF 186.44 M Growth Momentum -20.58

Income Statement

Annual, most recent first
Metric FY2025 FY2024 FY2023 FY2022 FY2021
Revenue 265.96 M 308.52 M 309.51 M 276.36 M 204.55 M
Net Income 118.25 M 161.66 M 165.59 M 154.39 M 113.99 M
EPS (Diluted) 3.93 5.52 5.77 5.52 4.55
Gross Profit — — — — —
Operating Income 124.12 M 168.35 M 174.59 M 169.62 M 135.37 M
EBITDA — — — — —
R&D Expenses — — — — —
SG&A Expenses — — — — —
D&A 74.07 M 70.81 M 67.19 M 61.30 M 41.78 M
Interest Expense 20.20 M 17.67 M 17.47 M 18.30 M 18.09 M
Income Tax — — — — —

Balance Sheet

Annual, most recent first
Metric FY2025 FY2024 FY2023 FY2022 FY2021
Total Assets 2.37 B 2.38 B 2.39 B 2.41 B 2.08 B
Total Liabilities 522.85 M 441.99 M 438.12 M 452.94 M 472.90 M
Shareholders' Equity 1.85 B 1.94 B 1.95 B 1.96 B 1.61 B
Total Debt 393.72 M — — — —
Cash & Equivalents 47.60 M 146.25 M 140.25 M 87.12 M 81.10 M
Current Assets — — — — —
Current Liabilities — — — — —