Innovative Industrial Properties, Inc. (IIPR)

NYSE • Real Estate

$51.83

-$0.09 (-0.2%)

Market closed

Last close at October 9, 2026 at 20:00 UTC

Open$52.1

Day Range$51.7 - $52.73

Avg. Volume (3M)452.3K

Market Cap$1.5B

P/E Ratio11.5

52 Week Range

$44.58$65.38

Next EarningsIn 23 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 23 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 slightly lower at 51.81, while its sector was firmer. Volume was about a quarter of its usual level. Innovative Industrial Properties priced a $50 million preferred-share offering to raise money.

Trading Volume

Below 10d avg (541.1K)

152K

vs S&P 500 Today

Underperforming Market

-0.80%

Updated: October 9, 2026 at 20:12 UTC

Technical Indicators

0 Buy2 Neutral6 Sell

IIPR exhibits clear technical weakness into the close, with a strong ADX reading near 42 indicating a dominant downtrend while momentum measures (negative MACD and short-term momentum) reinforce selling pressure. The stock is trading below most short- and long-term moving averages, including the 200-day, and on-balance volume is deeply negative, suggesting distribution. Volatility is moderate with an ATR near 2.5%, and pivot levels sit close to the current price without offering notable support. Technical takeaway: Strong Sell — trend strength, negative momentum and weak volume align with continued technical weakness.

All signals