Innovative Industrial Properties, Inc. (IIPR)

NYSE • Real Estate

$54.21

-$0.35 (-0.6%)

Market open

Last close at October 23, 2026 at 20:00 UTC

Open$54.25

Previous Close$54.21

Day Range$53.92 - $54.78

Avg. Volume (3M)440.4K

Market Cap$1.4B

P/E Ratio12.0

52 Week Range

$44.58$65.38

Next EarningsIn 8 daysNov 2, 2026

Metrics Over Time

Where the Money Goes

Q2 2026

Revenueeverything earned$63.3M100%

Gross Profitminus cost of goods$56.1M89%

Operating Incomeminus R&D and overhead$41.4M65%

Net Incomeminus taxes and the rest$43.8M69%

In plain terms: out of every $100 in revenue, Innovative Industrial Properties, Inc. keeps $69 as net profit.

Fundamentals & Financials

Revenue (TTM)

$263.6M

Net Income (TTM)

$137.8M

EPS (TTM)

$4.51

ROA (TTM)

5.34%

Current Ratio

1.36

Dividend Yield

3.24%

TTM is calculated as the sum of the four most recently completed quarters. This is a standard approach when monthly or real-time data is not available.

Income Statement

Balance Sheet

Financial Highlights

Dividends History

Split History

Earnings

-4.7%Q3 2025$0.87

-3.8%Q4 2025$1.01

+1.9%Q1 2026$1.07

-2.8%Q2 2026$1.04

+33.3%Q3 2026$1.36

Nov 2

in 8 daysQ4 2026

% — EPS deviation from the forecast (beat / miss); quarters without a forecast show the reported EPS

Latest report — Q3 2026

Beat +33.3%

Innovative Industrial Properties topped consensus on adjusted EPS but revenue missed, and the second fiscal quarter of 2026 results reported Aug. 3 were based on preliminary results. Revenue came in at about $63.3 million, below the $67.1 million estimate by 5.6%, while adjusted EPS of $1.36 topped the $1.02 consensus by 33.3% but was down 20.5% from $1.71 a year ago. Net income rose 46.1% to about $38.0 million from $26.0 million a year ago, and operating income reached about $41.9 million; the company also paid $54.9 million in dividends. Consensus for the next period calls for adjusted EPS of $1.10 on revenue of $66.3 million.

Next report — what to expect

Innovative Industrial Properties, Inc. (IIPR) reports on November 2, 2026. Wall Street is looking for consensus EPS of $0.90 on consensus revenue of $60.9 million. For trailing context, revenue rose +0.7% year over year last quarter. IIPR has beaten EPS in 3 of 8 most recent quarters.

View full earnings history

About Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc. is a New York Stock Exchange-listed real estate company that operates as an industrial-property REIT serving state-licensed operators, with $266.0 million in revenue in FY2025. Its business centers on owning specialized properties tied to regulated cannabis operations rather than running those operations itself.

Name

Innovative Industrial Properties, Inc.

CEO

Paul E. Smithers

Website

www.innovativeindustrialproperties.com

Industry

Real Estate

Employees

Today's Snapshot

AI-generated

IIPR closed 0.5% lower at 54.27, while its sector was flat. Trading was lighter than usual, with volume about half of its usual level.

Trading Volume

Below 10d avg (328.4K)

165.5K

vs S&P 500 Today

Inline with Market

-0.01%

Updated: October 23, 2026 at 20:08 UTC

Technical Indicators

3 Buy2 Neutral3 Sell

IIPR presents a balanced, mixed signal set with the price about 54.21 roughly at near-term averages while short-term moving averages and CCI indicate recent upside, yet longer-term averages and OBV reflect distribution. ADX near the high 20s suggests a modestly present trend, momentum readings are mixed with a neutral RSI and elevated stochastic, and volatility is moderate with an ATR around 1.32. Pivots sit close to the market, underscoring the lack of a decisive edge. Technical takeaway: Neutral — short-term strength offset by longer-term resistance and negative volume trends.

All signals