Overview
Innovative Industrial Properties, Inc., based in the United States, operates in the real estate investment trust (REIT) sector, primarily focusing on the acquisition, ownership, and management of specialized properties leased to state-licensed operators for their regulated cannabis facilities. Since its inception, the company has strategically established itself as a key player in supporting the legal cannabis industry's infrastructure needs. They provide real estate capital through the acquisition and leasing of facilities, tailored specifically towards the growth, storage, and distribution of medical-use cannabis. As of recent reports, Innovative Industrial Properties holds a substantial portfolio that includes properties across multiple states, each meticulously managed to support and capitalize on the ongoing, regulated expansion of the cannabis industry in the U.S.
Basic Stats
The share price of Innovative Industrial Properties, Inc. as of September 4, 2025 is $56.65 / share. This is an increase of 0.62% from the prior week. The market cap (or net worth) of Innovative Industrial Properties, Inc. as of September 4, 2025 is $1,587.19 MM.
The Factor Analysis chart (below right) shows a view of Innovative Industrial Properties, Inc. from a variety of lenses. Each factor shows how well the company ranks against all other companies in the Fintel global investing universe. Factor scores range from zero to 100, with 100 being most desirable, and 50 being average.
For example, a company with a Value Score of 100 would be the most undervalued company in our database. A company with a Value Score of zero would be the most overvalued.
| Market Cap | 1,587.19 MM |
| EV | 1,813.95 MM |
| Shares Out. | 28.02 MM |
| Earnings Date | |
| EPS (TTM) | 4.90 |
| Dividend Yield | 13.42 % |
| Ex-Dividend Date | 2025-06-30 |
| Borrow Rate | 0.41 |
| Short Shares Avail. | 0.55 MM |
| Short Interest | 1.90 MM |
| Short Float | 6.89 % |
| Days to Cover | 8.70 days |
| Risk Free Rate | 4.22 % |
| Price Change (1 yr) | -53.41 % |
| Volatility (1 yr) | 0.47 |
| Beta | 0.53 |
| Sharpe Ratio (1 yr) | -1.22 |
| Sortino Ratio (1 yr) | -1.58 |
| PE Ratio | 11.55 |
| Price/Book | 0.84 |
| Price/TBV | 0.86 |
| Book/Market | 1.18 |
| EBIT/EV | 0.08 |
| EBIT(3yr avg)/EV | 0.09 |
| ROA | 0.06 |
| ROE | 0.07 |
| ROIC | 0.06 |
| CROIC | -0.01 |
| OCROIC | 0.10 |
| Implied Volatility | 38.04 % |
| Put/Call OI Ratio | 2.58 |
Factor Scores range from 0 to 100, with 100 being most desirable. Larger circles are better. In situations where we have no data (e.g. no insider trades), we plot the score at 50 to avoid penalizing companies. However, a company that does not pay dividends will get a Dividend Score of Zero. Additionally, we inverted volatility to create a "stability" metric which is better when higher.
Price Target
The average one-year price target for Innovative Industrial Properties, Inc. is $58.14. The forecasts range from a low of $43.43 to a high of $94.50. A stock’s price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings. Analysts typically set price targets that correspond to their buy or sell recommendations.
Update Frequency: Monthly
Stock Upgrades/Downgrades
This card shows analyst upgrades/downgrades for Innovative Industrial Properties, Inc.. An analyst rating is a classification that gives investors a sense of analyst sentiment about the direction and performance of an equity - usually a stock - over a period of time, typically 12 months.
The standard analyst ratings are generally as follows:
- Buy/Overweight/Outperform - Any of these ratings conveys an analyst’s belief that the stock is likely to outperform a market index (e.g. the S&P 500).
- Hold/Equal-Weight/Market Perform - Any of these ratings conveys an analyst’s belief that the stock is likely to perform in line with a market index.
- Sell/Underweight/Underperform - Any of these ratings suggest that an analyst believes the stock is likely to underperform a market index.
When an analyst upgrades a stock, they are signaling that the company’s fundamentals are being undervalued by investors. It could also mean they believe the market is underestimating the company’s potential. The opposite is true when a stock receives a downgrade.
The average rating of each individual analyst’s rating is the consensus rating for a stock. This gives investors a broader sense of the overall sentiment for that stock.
| Date | Analyst | Prior | Latest Recommendation |
Action |
|---|---|---|---|---|
| 2023-01-20 | JMP Securities | Market Outperform | Market Perform | Downgrade |
| 2022-10-07 | Piper Sandler | Overweight | Maintains | |
| 2022-09-19 | Compass Point | Neutral | Buy | Upgrade |
| 2022-08-08 | Piper Sandler | Overweight | Maintains | |
| 2022-08-08 | Compass Point | Buy | Neutral | Downgrade |
| 2022-07-19 | Wolfe Research | Outperform | Peer Perform | Downgrade |
| 2022-07-19 | JMP Securities | Market Outperform | Maintains | |
| 2022-06-02 | JMP Securities | Market Outperform | Maintains | |
| 2022-05-09 | Craig-Hallum | Hold | Buy | Upgrade |
| 2021-11-04 | JMP Securities | Market Outperform | Maintains | |
| 2021-09-01 | BTIG | Buy | Maintains | |
| 2021-08-09 | Craig-Hallum | Hold | Maintains | |
| 2021-08-06 | Roth Capital | Buy | Maintains | |
| 2021-07-02 | Wolfe Research | Outperform | Initiate | |
| 2020-11-05 | Piper Sandler | Overweight | Maintains | |
| 2020-09-18 | Roth Capital | Buy | Maintains | |
| 2020-09-08 | Piper Sandler | Overweight | Initiate | |
| 2019-01-14 | BTIG Research | Buy | Initiate | |
| 2018-10-08 | Compass Point | Buy | Buy | Maintains |
| 2017-01-13 | Ladenburg Thalmann | Buy | Initiate | |
| 2016-12-12 | Compass Point | Buy | Initiate | |
| 2023-01-24 | BTIG | Buy | Maintains | |
| 2023-03-01 | Piper Sandler | Overweight | Maintains | |
| 2023-04-05 | Piper Sandler | Overweight | Maintains | |
| 2023-05-17 | Compass Point | Buy | Buy | Maintains |
| 2023-05-10 | Craig-Hallum | Buy | Hold | Downgrade |
| 2023-05-31 | Piper Sandler | Overweight | Overweight | Maintains |
| 2023-06-30 | Piper Sandler | Overweight | Neutral | Downgrade |
| 2023-09-05 | Compass Point | Buy | Neutral | Downgrade |
| 2024-02-29 | Piper Sandler | Neutral | Neutral | Maintains |
| 2023-11-06 | Piper Sandler | Neutral | Neutral | Maintains |
| 2024-03-07 | Craig-Hallum | Hold | Hold | Maintains |
| 2024-11-08 | Piper Sandler | Neutral | Neutral | Maintains |
| 2024-11-08 | Compass Point | Neutral | Buy | Upgrade |
| 2024-08-09 | Piper Sandler | Neutral | Neutral | Maintains |
| 2024-12-17 | Alliance Global Partners | Buy | Initiate | |
| 2024-07-22 | Roth MKM | Buy | Buy | Maintains |
| 2025-04-15 | Piper Sandler | Underweight | Underweight | Maintains |
| 2025-03-31 | Compass Point | Neutral | Sell | Downgrade |
| 2024-12-23 | BTIG | Buy | Neutral | Downgrade |
| 2025-03-17 | Citizens Capital Markets | Market Perform | Market Perform | Reiterate |
| 2024-12-20 | Compass Point | Buy | Neutral | Downgrade |
| 2025-03-18 | Compass Point | Neutral | Neutral | Maintains |
| 2025-02-21 | Roth MKM | Buy | Buy | Maintains |
| 2025-03-17 | Piper Sandler | Underweight | Underweight | Maintains |
| 2025-03-31 | Piper Sandler | Underweight | Underweight | Maintains |
| 2024-12-16 | JMP Securities | Market Perform | Market Perform | Reiterate |
| 2025-07-02 | Wolfe Research | Outperform | Peer Perform | Downgrade |
