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II

Innovative Industrial Properties, Inc. (IIPR)

NYSE • Real Estate

$56.97
-$0.24 (-0.4%)
Market open

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

Open$57.15
Previous Close$56.97
Day Range$56.67 - $57.33
Avg. Volume (3M)311.5K
Market Cap$1.6B
P/E Ratio12.6
52 Week Range
$44.58$65.38
Next EarningsIn 53 daysNov 2, 2026

Metrics Over Time

Where the Money Goes

Q2 2026
Revenueeverything earned$63.3M100%
Gross Profitminus cost of goods$63.3M100%
Operating Incomeminus R&D and overhead$43.8M69%
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.

Earnings

+1.9%Q1 2026$1.07
-2.8%Q2 2026$1.04
+33.3%Q3 2026$1.36
Next

Nov 2

in 53 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.

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
24

Today's Snapshot

AI-generated

IIPR opened slightly higher at 57.23, in line with a flat sector.

Trading Volume

Below 10d avg (302.2K)

23.7K

vs S&P 500 Today

Moderate Outperformance

+0.47%

Updated: September 10, 2026 at 14:37 UTC

Technical Indicators

1 Buy3 Neutral4 Sell
IIPR sits near its daily pivot and just above several short-term averages while the 200-day average remains below the current price, producing a mixed moving-average picture. Momentum readings are muted and the MACD is near neutral, yet ADX above 40 signals a strong underlying trend and volatility is modest with an ATR near 1.2. Notably, OBV shows buying pressure despite the technical score leaning lower, which suggests accumulation amid weakness. Technical takeaway: Sell — downward bias in the context of a strong trend despite volume showing some support at current levels.
All signals
  • EMA (5 indicators)$55.55 - $58.13
    Sell
  • RSI (14)44.71
    Neutral
  • Stochastic %K (14, 3, 3)58.15
    Neutral
  • MACD Level (12, 26)-0.55
    Neutral

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ARIApollo Commercial Real Estate Finance, Inc.
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