IIPR
NEUTRAL
$56.01
Live
Innovative Industrial Properties, Inc. · NYSE
Target $58.75
(+4.9%)
$44.58
52W Range
$59.83
At a glance
Key valuation, profitability, growth, and risk metrics.
Updated Apr 29, 2026
Market cap
$1.6B
P/E
14.25
ROE
6.2%
Profit margin
44.5%
Debt/Equity
0.21
Dividend yield
13.57%
AI Analysis
AI-powered fundamental assessment
Confidence
85%
IIPR presents a contradictory profile: a strong Piotroski F-Score of 7/9 and a Graham Number of $75.37 suggest defensive value, yet the company is facing significant fundamental headwinds. While the balance sheet is lean with a Debt/Equity ratio of 0.21, the company is experiencing sharp declines in both revenue (-13.10%) and earnings (-22.10%) YoY. Most critically, the dividend payout ratio of 193.38% is unsustainable, indicating that the 13.57% yield is likely at risk. The stock is currently trading below book value (P/B 0.87), providing a valuation floor, but the lack of growth and liquidity concerns (Current Ratio 0.23) offset the value proposition.
Key Strengths
Strong Piotroski F-Score (7/9) indicating solid financial health
Trading below book value (P/B 0.87)
Very low leverage with a Debt/Equity ratio of 0.21
High gross margins (88.65%) and operating margins (51.28%)
Defensive fair value (Graham Number) significantly above current price
Key Risks
Unsustainable dividend payout ratio (193.38%)
Significant negative YoY revenue growth (-13.10%)
Sharp decline in YoY earnings growth (-22.10%)
Poor short-term liquidity (Current Ratio 0.23)
Bearish technical trend (0/100)
AI Fair Value Estimate
Based on comprehensive analysis
$51.2
-8.6% below current price
Performance Snowflake
Multi-dimensional analysis across 5 key categories
Overall
51
Moderate
80
20
65
75
15
AI Verdict
Value Trap Risk
Key drivers: Negative growth, Unsustainable dividend, Low P/B ratio, Strong F-Score
Confidence
90%
Value
80/100
Ref P/E, PEG, Graham Number
Positives
- P/B < 1.0
- Current price below Graham Number ($75.37)
- Low Forward P/E (11.69)
Watchpoints
- Intrinsic value based on growth is much lower ($27.51)
Future
20/100
Ref Growth rates
Positives
- Recent Q/Q EPS growth showed a slight recovery (+9.3%)
Watchpoints
- Double-digit declines in YoY revenue and earnings
- Bearish technical trend
Past
65/100
Ref Historical trends
Positives
- Consistent history of beating earnings estimates over 25 quarters
Watchpoints
- 5-year price change is deeply negative (-53.2%)
Health
75/100
Ref Altman Z-Score, Piotroski F-Score
Positives
- Piotroski F-Score 7/9
- Very low Debt/Equity (0.21)
Watchpoints
- Critically low Current Ratio (0.23)
Dividend
15/100
Ref Yield, Payout
Positives
- Very high nominal yield (13.57%)
Watchpoints
- Payout ratio exceeds 190%, indicating the dividend is not covered by earnings
Stock Price & Analyst Targets
Real-time price movements and analyst price targets
Current Price
$56.01
Analyst Target
$58.75
Upside/Downside
+4.9%
Multi-Horizon Performance vs Peers
Price momentum across 5Y → 1W horizons for IIPR and closest competitors.
Updated 2026-04-28
| Company | 5Y | 3Y | 1Y | 6M | 1M | 1W |
|---|---|---|---|---|---|---|
|
IIPR
Innovative Industrial Properties, Inc.
Primary
|
-53.2% | +12.5% | +20.5% | +15.1% | +14.6% | +6.0% |
|
EFC
Ellington Financial Inc.
Peer
|
+34.3% | +53.3% | +15.9% | +4.7% | +12.9% | +1.4% |
|
ABR
Arbor Realty Trust, Inc.
Peer
|
-7.8% | -22.3% | -34.2% | -32.0% | -2.4% | -6.4% |
|
HBNB
Hotel101 Global Holdings Corp.
Peer
|
-40.2% | -40.2% | -40.2% | +89.9% | -20.4% | -16.2% |
|
DHC
Diversified Healthcare Trust
Peer
|
+58.0% | +488.0% | +210.6% | +60.9% | -4.5% | +4.5% |
IIP
Innovative Industrial Properties, Inc.
Primary
5Y
-53.2%
3Y
+12.5%
1Y
+20.5%
6M
+15.1%
1M
+14.6%
1W
+6.0%
EFC
Ellington Financial Inc.
Peer
5Y
+34.3%
3Y
+53.3%
1Y
+15.9%
6M
+4.7%
1M
+12.9%
1W
+1.4%
ABR
Arbor Realty Trust, Inc.
Peer
5Y
-7.8%
3Y
-22.3%
1Y
-34.2%
6M
-32.0%
1M
-2.4%
1W
-6.4%
HBN
Hotel101 Global Holdings Corp.
Peer
5Y
-40.2%
3Y
-40.2%
1Y
-40.2%
6M
+89.9%
1M
-20.4%
1W
-16.2%
DHC
Diversified Healthcare Trust
Peer
5Y
+58.0%
3Y
+488.0%
1Y
+210.6%
6M
+60.9%
1M
-4.5%
1W
+4.5%
Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.
Historical Performance Trends
Long-term financial metrics and growth patterns
Revenue & Net Income
Profit & Operating Margins
Return on Equity (ROE)
Quarterly Revenue Growth
Historical data shows last 12 quarters (3 years)
Valuation Metrics
Key valuation ratios and pricing indicators
P/E Ratio
14.25
Forward P/E
11.69
PEG Ratio
N/A
P/B Ratio
0.87
P/S Ratio
6.02
EV/Revenue
7.41
EV/EBITDA
9.65
Market Cap
$1.6B
Profitability
Profit margins and return metrics
Profit Margin
44.46%
Operating Margin
51.28%
Gross Margin
88.65%
ROE
6.25%
ROA
3.42%
Growth
Revenue and earnings growth rates
Revenue Growth
-13.1%
Earnings Growth
-22.1%
Q/Q Revenue Growth
-13.14%
Q/Q Earnings Growth
-20.4%
Financial Health
Balance sheet strength and liquidity metrics
Debt/Equity
0.21
Low debt
Current Ratio
0.23
Weak
Quick Ratio
0.17
Poor
Cash/Share
$1.69
Financial Statement Flow
Interactive flow visualization showing how money moves through the company Q4 2025
Revenue
$0.1B
Gross Margin
88.0%
Op. Margin
48.3%
Net Margin
47.8%
Total Assets
$2.4B
Liabilities
$0.5B
Equity
$1.8B
Debt/Equity
0.28x
Operating CF
$0.0B
Free Cash Flow
$0.0B
FCF Yield
100%
Quarterly Earnings History
EPS performance vs analyst estimates
2026-05-04
$N/A
2026-02-23
$1.06
+1.3% surprise
2025-11-03
$0.97
+7.4% surprise
2025-08-06
$0.86
-5.8% surprise
Real Estate Sector Comparison
Comparing IIPR against 172 companies in the Real Estate sector
(7 bullish, 34 neutral, 131 bearish)
P/E Ratio
14.25
This Stock
vs
42.55
Sector Avg
-66.5%
(Discount)
Return on Equity (ROE)
6.25%
This Stock
vs
-33.82%
Sector Avg
-118.5%
(Below Avg)
Profit Margin
44.46%
This Stock
vs
11.01%
Sector Avg
+303.8%
(Superior)
Debt to Equity
0.21
This Stock
vs
2.41
Sector Avg
-91.1%
(Less Debt)
Revenue Growth
-13.1%
This Stock
vs
16213.78%
Sector Avg
-100.1%
(Slower)
Current Ratio
0.23
This Stock
vs
7.73
Sector Avg
-97.1%
(Weaker)
Similar Companies
Peer comparison within the same industry
| Company | AI Rating | Market Cap | P/E | ROE | Profit Margin | Price | |
|---|---|---|---|---|---|---|---|
|
IIPR
Innovative Industrial...
|
NEUTRAL | $1.6B | 14.25 | 6.2% | 44.5% | $56.01 | |
|
EFC
Ellington Financial Inc.
|
BEARISH | $1.64B | 11.04 | 8.7% | 44.6% | $13.14 | Compare |
|
ABR
Arbor Realty Trust, Inc.
|
BEARISH | $1.64B | 10.05 | 6.6% | 35.1% | $7.74 | Compare |
|
HBNB
Hotel101 Global Holdings Corp.
|
BEARISH | $1.53B | - | -% | -63.2% | $6.51 | Compare |
|
DHC
Diversified Healthcare Trust
|
BEARISH | $1.68B | - | -15.8% | -18.6% | $6.94 | Compare |
IIPR
Innovative...
NEUTRAL
Mkt Cap
$1.6B
P/E
14.3
ROE
6.2%
Price
$56.01
Recent Insider Trading
Insider buy and sell transactions from the last 6 months
| Date | Insider | Position | Transaction | Shares | Value |
|---|---|---|---|---|---|
| 2026-01-20 | SMITH DAVID JON | Chief Financial Officer | Stock Award | 20,061 | - |
| 2026-01-20 | BUI ANDY | Officer | Stock Award | 6,522 | - |
| 2026-01-20 | SMITHERS PAUL E | Chief Executive Officer | Stock Award | 47,643 | - |
| 2026-01-02 | SHOEMAKER SCOTT | Director | Stock Award | 911 | - |
| 2026-01-02 | SMITHERS PAUL E | Chief Executive Officer | Stock Award | 10,653 | - |
| 2025-12-31 | SMITH DAVID JON | Chief Financial Officer | Stock Award | 4,555 | - |
| 2025-11-24 | GOLD ALAN D | Officer and Director | Purchase | 2,600 | $127,634 |
| 2025-11-20 | SMITH DAVID JON | Chief Financial Officer | Purchase | 600 | $27,540 |
| 2025-11-20 | GOLD ALAN D | Officer and Director | Purchase | 2,000 | $91,955 |
SMITH DAVID JON
Chief Financial Officer
2026-01-20
20,061 shares
BUI ANDY
Officer
2026-01-20
6,522 shares
SMITHERS PAUL E
Chief Executive Officer
2026-01-20
47,643 shares
SHOEMAKER SCOTT
Director
2026-01-02
911 shares
SMITHERS PAUL E
Chief Executive Officer
2026-01-02
10,653 shares
SMITH DAVID JON
Chief Financial Officer
2025-12-31
4,555 shares
GOLD ALAN D
Officer and Director
2025-11-24
2,600 shares
·
$127,634
SMITH DAVID JON
Chief Financial Officer
2025-11-20
600 shares
·
$27,540
GOLD ALAN D
Officer and Director
2025-11-20
2,000 shares
·
$91,955
Insider transactions can signal confidence or concerns about company prospects
SEC Filings
Recent regulatory filings from the SEC EDGAR database
Data sourced from SEC EDGAR. AI summaries generated automatically.
Wall Street Analysts
Professional analyst ratings and price targets
Consensus
HOLD
4 analysts
Compass Point
2026-03-03
Sell
Neutral
Piper Sandler
2026-02-25
Underweight
Underweight
Piper Sandler
2025-11-05
Underweight
Underweight
Past News Coverage
Recent headlines mentioning IIPR from our newsroom.
Newest → oldest
No matching news yet.