Innovative Industrial PropertiesIIPR
IIPR
About: Innovative Industrial Properties Inc is a real estate investment trust engaged in the acquisition, ownership, and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. It conducts its business through a traditional umbrella partnership real estate investment trust, or UPREIT structure, in which properties are owned by Operating Partnership, directly or through subsidiaries. Its property portfolio is spread across the United States.
Employees: 21
0
Funds holding %
of 7,296 funds
–
Analysts bullish %
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
13% more repeat investments, than reductions
Existing positions increased: 115 | Existing positions reduced: 102
1.75% less ownership
Funds ownership: 70.73% [Q4 2024] → 68.98% (-1.75%) [Q1 2025]
9% less funds holding
Funds holding: 354 [Q4 2024] → 322 (-32) [Q1 2025]
20% less capital invested
Capital invested by funds: $1.33B [Q4 2024] → $1.06B (-$273M) [Q1 2025]
21% less call options, than puts
Call options by funds: $17.8M | Put options by funds: $22.5M
34% less first-time investments, than exits
New positions opened: 46 | Existing positions closed: 70
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$45
20%
downside
Avg. target
$48
16%
downside
High target
$50
11%
downside
2 analyst ratings
0 positive
0%
0 neutral
0%
2 negative
100%
Piper Sandler Alexander Goldfarb | 20%downside $45 | Underweight Maintained | 15 Apr 2025 |
Compass Point Merrill Ross | 11%downside $50 | Sell Downgraded | 31 Mar 2025 |
Financial journalist opinion
Based on 9 articles about IIPR published over the past 30 days
Negative
Seeking Alpha
2 hours ago
The Inflation That Wasn't
US equity markets retreated from the cusp of record-highs this week as encouraging inflation data showing surprisingly muted tariff-related inflation was spoiled by a sudden escalation in Middle East tensions. The critical CPI and PPI reports both showed cooler-than-expected inflation in May for a third-straight month, as lower oil prices and moderating shelter costs more than offset the tariff uplift. Upsetting the key disinflationary offset that has kept overall inflation suppressed in recent months, the exchange of attacks between Iran and Israel sent global oil prices surging to four-month highs.
Positive
Zacks Investment Research
2 days ago
Is the Options Market Predicting a Spike in Innovative Industrial Properties Stock?
Investors need to pay close attention to IIPR stock based on the movements in the options market lately.
Neutral
Business Wire
2 days ago
Innovative Industrial Properties Declares Second Quarter 2025 Dividends
SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR), the first and only real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a second quarter 2025 dividend of $1.90 per share of common stock, representing an annualized dividend of $7.60 per common share. Since its inception in 2016, IIP has paid over $940 million in common stock dividends to its shareholders.
Positive
Seeking Alpha
1 week ago
U.S. REIT Share Repurchase Activity Doubles In Q1 2025
Share buyback activity by US equity real estate investment trusts more than doubled in the first quarter, according to an analysis by S&P Global Market Intelligence. The US REIT sector bought back around $993.2 million in common stock in the period, more than twice as much as the $456.2 million in the fourth quarter of 2024 and up 15.5% year over year. More than a dozen REITs announced new share repurchase programs during the first quarter.
Neutral
Seeking Alpha
1 week ago
Innovative Industrial Properties: Where Capitulation Ends, Conviction Begins
IIPR holds more than $220 million in total liquidity, with a conservative 11% debt-to-assets ratio and sub-1x net debt-to-EBITDA. Tenant defaults led to a 13% QoQ AFFO drop to $55.3 million and a 6.5% revenue decline in Q1 FY 2025. The company re-leased ~1 million square feet in 18 months, replacing defaulted tenants with financially stronger operators.
Positive
MarijuanaStocks
3 weeks ago
2025's Best Cannabis REITs for Building Wealth Over Time
The U.S. cannabis industry continues to expand rapidly, creating strong momentum for related investments. In 2025, the market is expected to surpass $44 billion in value. Over the next five years, projections suggest it could reach more than $76 billion. This steady growth is driven by rising consumer demand and ongoing legalization across many states. Currently, nearly half of U.S. adults have tried cannabis at least once. Meanwhile, almost 80% of Americans live near a licensed dispensary. The industry also supports hundreds of thousands of jobs and contributes billions to the economy each year. Because of this, investors are watching cannabis real estate investment trusts (REITs) for potential gains.
Positive
Seeking Alpha
3 weeks ago
Innovative Industrial Properties: 13% Dividend Yield And Near-Fortress Balance Sheet
IIPR's dividend yield has soared to 13.33%, reflecting market fears of a cut amid tenant defaults and declining dividend coverage. Despite a 60% share price drop and sector headwinds, I am adding to my position on the back of IIPR's fortress balance sheet and industry recovery potential. Fiscal 2025 first quarter revenue and FFO both beat consensus, but FFO now covers only 96.8% of the dividend.
Negative
Seeking Alpha
3 weeks ago
When Your REIT Will Cut Its Dividend
When Your REIT Will Cut Its Dividend
Positive
MarijuanaStocks
4 weeks ago
3 Marijuana Stocks For Cannabis Real Estate Investors
Is it safe to invest in marijuana stocks with the entire sector trading at all-time lows? If the legal market is profitable and companies are performing well, why are the top marijuana stocks not trading? These are just some of the questions that plague investors and shareholders. The answer is not so simple, which can make things a bit more complex to understand. Although legal cannabis as a business is thriving and growing in all areas, this has not translated to the public sector so well.
Positive
Seeking Alpha
1 month ago
Innovative Industrial Properties: Speculative Buy With Short-Term Risk And Long-Term Reward
Innovative Industrial Properties faces significant challenges, including tenant defaults and unfavorable cannabis legalization votes, impacting its valuation and short-term growth potential. Despite tenant issues, IIPR benefits from strong cannabis industry growth, regulatory progress, and a conservative capital structure with substantial liquidity. IIPR's management is actively addressing tenant defaults, with one PharmaCann property already re-leased, showcasing the quality and demand for its specialized facilities.
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