Innovative Industrial Properties, Inc.

IIPR


Canadian symbol: IIPR
US symbol: IIPR

Currency in USD

Valuation Measures

Market Cap (intraday) 52.05B
Enterprise Value 31.68B
Trailing P/E 38.66
Forward P/E 118.49
PEG Ratio (5 yr expected) 1N/A
Price/Sales (ttm)34.84
Price/Book (mrq)1.91
Enterprise Value/Revenue 328.57
Enterprise Value/EBITDA 636.58

Trading Information

Stock Price History

Beta (5Y Monthly) 1.33
52-Week Change 3-27.11%
S&P500 52-Week Change 36.72%
52 Week High 3139.53
52 Week Low 340.21
50-Day Moving Average 389.88
200-Day Moving Average 382.76

Share Statistics

Avg Vol (3 month) 3463.7k
Avg Vol (10 day) 31.15M
Shares Outstanding 521.7M
Float 16.64M
% Held by Insiders 12.94%
% Held by Institutions 160.25%
Shares Short (Jun. 14, 2020) 42.31M
Short Ratio (Jun. 14, 2020) 45.87
Short % of Float (Jun. 14, 2020) 414.28%
Short % of Shares Outstanding (Jun. 14, 2020) 412.39%
Shares Short (prior month May 14, 2020) 42.68M

Dividends & Splits

Forward Annual Dividend Rate 44.24
Forward Annual Dividend Yield 44.57%
Trailing Annual Dividend Rate 33.38
Trailing Annual Dividend Yield 33.51%
5 Year Average Dividend Yield 4N/A
Payout Ratio 4139.67%
Dividend Date 3Jul. 14, 2020
Ex-Dividend Date 4Jun. 28, 2020
Last Split Factor 2N/A
Last Split Date 3N/A

Financial Highlights

Fiscal Year

Fiscal Year Ends Dec. 30, 2019
Most Recent Quarter (mrq)Mar. 30, 2020

Profitability

Profit Margin 53.76%
Operating Margin (ttm)57.27%

Management Effectiveness

Return on Assets (ttm)2.81%
Return on Equity (ttm)5.62%

Income Statement

Revenue (ttm)58.97M
Revenue Per Share (ttm)4.88
Quarterly Revenue Growth (yoy)209.70%
Gross Profit (ttm)43.35M
EBITDA 46.06M
Net Income Avi to Common (ttm)29.91M
Diluted EPS (ttm)2.45
Quarterly Earnings Growth (yoy)226.10%

Balance Sheet

Total Cash (mrq)108.26M
Total Cash Per Share (mrq)6.36
Total Debt (mrq)136.36M
Total Debt/Equity (mrq)15.87
Current Ratio (mrq)6.96
Book Value Per Share (mrq)49.60

Cash Flow Statement

Operating Cash Flow (ttm)59.9M
Levered Free Cash Flow (ttm)23.23M

mrq = Most Recent Quarter
ttm = Trailing Twelve Months
yoy = Year Over Year
lfy = Last Fiscal Year
fye = Fiscal Year Ending
fy = Forward Year
Shares outstanding is taken from the most recently filed quarterly or annual report and Market Cap is calculated using shares outstanding.

Fundamentals are updated every day.
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Currency in USD
Earnings EstimateCurrent Qtr. (Jun 2020)Next Qtr. (Sep 2020)Current Year (2020)Next Year (2021)
No. of Analysts4444
Avg. Estimate0.750.833.345.12
Low Estimate0.710.83.183.91
High Estimate0.840.93.465.91
Year Ago EPS0.30.552.033.34
Revenue EstimateCurrent Qtr. (Jun 2020)Next Qtr. (Sep 2020)Current Year (2020)Next Year (2021)
No. of Analysts5555
Avg. Estimate23.91M29.57M110.13M183.81M
Low Estimate23.29M25.56M97.24M120.28M
High Estimate25.4M33.5M121.2M220.97M
Year Ago Sales8.62MN/A44.67M110.13M
Sales Growth (year/est)177.50%N/A146.60%66.90%
Earnings History2019-06-292019-09-292019-12-302020-03-30
EPS Est.0.290.470.570.75
EPS Actual0.30.550.780.72
Difference0.010.080.21-0.03
Surprise %3.40%17.00%36.80%-4.00%
EPS TrendCurrent Qtr. (Jun 2020)Next Qtr. (Sep 2020)Current Year (2020)Next Year (2021)
Current Estimate0.750.833.345.12
7 Days Ago0.790.913.515.01
30 Days Ago0.810.963.634.98
60 Days Ago0.871.033.815.5
90 Days Ago0.871.033.815.5
EPS RevisionsCurrent Qtr. (Jun 2020)Next Qtr. (Sep 2020)Current Year (2020)Next Year (2021)
Up Last 7 Days1N/AN/A2
Up Last 30 Days1N/AN/A3
Down Last 7 DaysN/AN/AN/AN/A
Down Last 30 Days122N/A
Growth EstimatesIIPRIndustrySectorS&P 500
Current Qtr.150.00%N/AN/AN/A
Next Qtr.50.90%N/AN/AN/A
Current Year64.50%N/AN/AN/A
Next Year53.30%N/AN/AN/A
Next 5 Years (per annum)N/AN/AN/AN/A
Past 5 Years (per annum)N/AN/AN/AN/A


Insiders transactions are updated every hour.

Major Holders

Currency in USD
Breakdown
2.94%% of Shares Held by All Insider
60.25%% of Shares Held by Institutions
62.07%% of Float Held by Institutions
335Number of Institutions Holding Shares

Top Institutional Holders

HolderSharesDate Reported% OutValue
Blackrock Inc.2,752,628Mar. 30, 202014.79%209,007,044
Vanguard Group, Inc. (The)1,953,393Mar. 30, 202010.49%148,321,130
Zimmer Partners, LP847,500Mar. 30, 20204.55%64,350,675
State Street Corporation699,399Mar. 30, 20203.76%53,105,366
Times Square Capital Management, LLC584,890Mar. 30, 20203.14%44,410,697
Weiss Multi-Strategy Advisers, LLC449,656Mar. 30, 20202.42%34,142,380
Bank of Montreal/Can/440,895Mar. 30, 20202.37%33,477,157
Hood River Capital Management LLC275,423Mar. 30, 20201.48%20,912,868
Northern Trust Corporation270,019Mar. 30, 20201.45%20,502,542
Capital Growth Management L.P.255,000Mar. 30, 20201.37%19,362,150

Top Mutual Fund Holders

HolderSharesDate Reported% OutValue
iShares Core S&P Smallcap ETF1,029,380Mar. 30, 20205.53%78,160,823
Vanguard Specialized-Real Estate Index Fund758,513Apr. 29, 20204.08%59,512,929
Vanguard Total Stock Market Index Fund462,870Mar. 30, 20202.49%35,145,719
iShares Russell 2000 ETF369,927Mar. 30, 20201.99%28,088,557
CGM Realty Fund255,000Mar. 30, 20201.37%19,362,150
Vanguard Extended Market Index Fund243,943Mar. 30, 20201.31%18,522,591
Northern Lights Fd Tr-Altegris/AACA Opportunistic Real Estate Fd222,525Mar. 30, 20201.20%16,896,323
iShares S&P Small Cap 600 Growth Index ETF207,832Mar. 30, 20201.12%15,780,683
iShares Russell 2000 Growth ETF142,942Mar. 30, 20200.77%10,853,586
Vanguard Tax Managed Fund-Small Cap Fund132,400Mar. 30, 20200.71%10,053,132
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Press Releases by Innovative Industrial Properties, Inc.


Innovative Industrial Properties Announces Public Offering of 1,800,000 Shares of Common Stock

Innovative Industrial Properties Announces Public Offering of 1,800,000 Shares of Common Stock

Innovative Industrial Properties, Inc. (the "Company") (NYSE: IIPR) announced today that it has commenced a public offering of 1,800,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 270,000 shares of its common stock. All of the shares are being sold by the Compa... Read More...
Innovative Industrial Properties Expands Real Estate Partnership with Green Leaf at Pennsylvania Property

Innovative Industrial Properties Expands Real Estate Partnership with Green Leaf at Pennsylvania Property

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it entered into an amendment of the lease with a subsidiary of Green Leaf Medical, LLC (Green Leaf) at 135 Horton Drive in Saxton, Pennsylvan... Read More...
Innovative Industrial Properties Declares Second Quarter 2020 Dividends

Innovative Industrial Properties Declares Second Quarter 2020 Dividends

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a second quarter 2020 dividend of $1.06 per share of common stock, representi... Read More...
Innovative Industrial Properties Acquires Pennsylvania Property and Expands Real Estate Partnership with Holistic Industries

Innovative Industrial Properties Acquires Pennsylvania Property and Expands Real Estate Partnership with Holistic Industries

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property located at 911 Industrial Street in New Castle, Pennsylvania, which comprises approximately 108,00... Read More...
Innovative Industrial Properties Upsizes and Prices Public Offering of Common Stock

Innovative Industrial Properties Upsizes and Prices Public Offering of Common Stock

Innovative Industrial Properties, Inc. (the "Company") (NYSE: IIPR) announced today the upsize and pricing of an underwritten public offering of 1,348,389 shares of its common stock for gross proceeds of approximately $100.0 million. The offering is expected to close on or about May 29, 2020, subject to customary closing conditions. The C... Read More...
Innovative Industrial Properties Announces Public Offering of 1,000,000 Shares of Common Stock

Innovative Industrial Properties Announces Public Offering of 1,000,000 Shares of Common Stock

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today that it has commenced a public offering of 1,000,000 shares of its common stock. The Company expects to grant the underwriter a 30-day option to purchase up to an additional 150,000 shares of its common stock. All of the shares ... Read More...
Innovative Industrial Properties Acquires California Property and Expands Long-Term Real Estate Partnership with Kings Garden

Innovative Industrial Properties Acquires California Property and Expands Long-Term Real Estate Partnership with Kings Garden

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in southern California, which comprises approximately 70,000 square feet of industrial space.The p... Read More...
Innovative Industrial Properties Reports First Quarter 2020 Results

Innovative Industrial Properties Reports First Quarter 2020 Results

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the medical-use U.S. cannabis industry, announced today results for the quarter ended March 31, 2020. First Quarter 2020 and Year-to-Date Highlights Financial Results... Read More...
Innovative Industrial Properties to Report 2020 First Quarter Results

Innovative Industrial Properties to Report 2020 First Quarter Results

Innovative Industrial Properties, Inc. (NYSE: IIPR) announced today it will report results for its first quarter ended March 31, 2020 after the market closes on Wednesday, May 6, 2020.Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, Catherine Hastings, Chief Financial Officer, and Ben Regin, Vice Presid... Read More...
Alan Gold, Executive Chairman of Innovative Industrial Properties, Responds to Short-Seller Report

Alan Gold, Executive Chairman of Innovative Industrial Properties, Responds to Short-Seller Report

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, today announced that it is aware of a short-seller report released earlier today, which contains numerous false and misleading statements about IIP and its Execut... Read More...
Innovative Industrial Properties Acquires Massachusetts Property and Expands Real Estate Partnership with AWH

Innovative Industrial Properties Acquires Massachusetts Property and Expands Real Estate Partnership with AWH

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Athol, Massachusetts, which comprises approximately 199,000 square ... Read More...
Innovative Industrial Properties Declares First Quarter 2020 Dividends

Innovative Industrial Properties Declares First Quarter 2020 Dividends

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a first quarter 2020 dividend of $1.00 per share of common stock, representing an approximately 122% incr... Read More...
Innovative Industrial Properties Acquires Florida Property and Enters Into Long-Term Lease with Parallel, a U.S. Cannabis Company

Innovative Industrial Properties Acquires Florida Property and Enters Into Long-Term Lease with Parallel, a U.S. Cannabis Company

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Wimauma, Florida, which comprises approximately 373,000 square feet... Read More...
Innovative Industrial Properties Acquires Illinois Property and Expands Real Estate Partnership with Green Thumb Industries (GTI)

Innovative Industrial Properties Acquires Illinois Property and Expands Real Estate Partnership with Green Thumb Industries (GTI)

Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on a sale-leaseback transaction with Green Thumb Industries Inc. (GTI) (CSE: GTII; OTCQX: GTBIF) for its licensed cannabis cultivat... Read More...
Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2019 Results

Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2019 Results

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (“IIP”), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2019, the third full year since IIP commenced real estate... Read More...
Green Thumb Industries (GTI) To Hold Fourth Quarter and Full Year 2019 Earnings Conference Call on March 26, 2020

Green Thumb Industries (GTI) To Hold Fourth Quarter and Full Year 2019 Earnings Conference Call on March 26, 2020

CHICAGO and VANCOUVER, British Columbia, Feb. 12, 2020 -- Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced that it will hold a conference call on Thursday, March 26, 2020, at 5:00 pm ET following the release of it... Read More...
Innovative Industrial Properties to Report 2019 Fourth Quarter and Year End Results

Innovative Industrial Properties to Report 2019 Fourth Quarter and Year End Results

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) announced today it will report results for its fourth quarter and year ended December 31, 2019 after the market closes on Wednesday, February 26, 2020. Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, Catherine Hastings, C... Read More...
Innovative Industrial Properties Announces Tax Treatment of 2019 Distributions

Innovative Industrial Properties Announces Tax Treatment of 2019 Distributions

Innovative Industrial Properties, Inc. (the "Company") (NYSE: IIPR) today announced the tax treatment of its 2019 distributions as follows:Security Description: Common StockCUSIP: 45781V101Ticker Symbol: IIPRRecordDatePayableDateTotalDistributionPer ShareAllocable to 2019Taxable Ordinary DividendReturn of CapitalLong-Term Capital GainUnre... Read More...
Innovative Industrial Properties Announces Exercise of Option to Purchase Additional Shares of Common Stock

Innovative Industrial Properties Announces Exercise of Option to Purchase Additional Shares of Common Stock

Innovative Industrial Properties, Inc. (the "Company") (NYSE: IIPR) announced today the full exercise of the underwriters’ option to purchase an additional 445,170 shares of common stock in connection with the Company’s previously announced follow-on offering that priced on January 24, 2020. In total, the Company sold 3,412,969 shares of ... Read More...
Innovative Industrial Properties Prices Public Offering of 2,967,799 Shares of Common Stock

Innovative Industrial Properties Prices Public Offering of 2,967,799 Shares of Common Stock

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today the pricing of an underwritten public offering of 2,967,799 shares of its common stock at $73.25 per share for gross proceeds of approximately $217.4 million. The offering is expected to close on or about January 28, 2020, subje... Read More...
Innovative Industrial Properties Announces Public Offering of 2,000,000 Shares of Common Stock

Innovative Industrial Properties Announces Public Offering of 2,000,000 Shares of Common Stock

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today that it has commenced a public offering of 2,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 300,000 shares of its common stock. All of the shares... Read More...
Innovative Industrial Properties Acquires Virginia Property and Enters Into Long-Term Lease with Green Leaf Medical

Innovative Industrial Properties Acquires Virginia Property and Enters Into Long-Term Lease with Green Leaf Medical

Leading REIT for the Medical-Use Cannabis Industry Expands Portfolio to 47 Properties Comprising Approximately 3.1 Million Square Feet in 15 StatesInnovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today... Read More...
Innovative Industrial Properties Appoints Mary Allis Curran, Former Bank Executive, to its Board of Directors

Innovative Industrial Properties Appoints Mary Allis Curran, Former Bank Executive, to its Board of Directors

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today the appointment of Mary Allis Curran to its board of directors. “We are very excited to have Mary Curran join IIP’s... Read More...
Innovative Industrial Properties Acquires Properties in Pennsylvania and North Dakota and Enters Into Long-Term Leases with Grassroots

Innovative Industrial Properties Acquires Properties in Pennsylvania and North Dakota and Enters Into Long-Term Leases with Grassroots

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on two sale-leaseback transactions with subsidiaries of GR Companies Inc. (Grassroots) for two properti... Read More...
Innovative Industrial Properties Declares Fourth Quarter 2019 Dividends

Innovative Industrial Properties Declares Fourth Quarter 2019 Dividends

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that its board of directors has declared a fourth quarter 2019 dividend of $1.00 per share of common stock, representi... Read More...
Innovative Industrial Properties Reports Third Quarter 2019 Results

Innovative Industrial Properties Reports Third Quarter 2019 Results

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the quarter ended September 30, 2019. Third Quarter 2019 Highlights Financial Results and Financing ... Read More...
Innovative Industrial Properties Expands Team with New Vice President, Asset Management and Senior Real Estate Counsel

Innovative Industrial Properties Expands Team with New Vice President, Asset Management and Senior Real Estate Counsel

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today the hiring of Tracie Hager as Vice President, Asset Management and Kelly Spicher as Senior Real Estate Counsel. Ms.... Read More...
Innovative Industrial Properties Acquires Illinois Property and Enters Into Long-Term Lease with Grassroots

Innovative Industrial Properties Acquires Illinois Property and Enters Into Long-Term Lease with Grassroots

SAN DIEGOInnovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on a sale-leaseback transaction with a subsidiary of GR Companies Inc. (Grassroots) for a property located in Litchfield, Illino... Read More...
Innovative Industrial Properties Acquires Illinois Property and Expands Real Estate Partnership with PharmaCann

Innovative Industrial Properties Acquires Illinois Property and Expands Real Estate Partnership with PharmaCann

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on a sale-leaseback transaction with PharmaCann LLC (PharmaCann) for a property located in Dwight, Illi... Read More...
Innovative Industrial Properties to Report 2019 Third Quarter Results

Innovative Industrial Properties to Report 2019 Third Quarter Results

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (NYSE: IIPR) announced today it will report results for its third quarter ended September 30, 2019 after the market closes on Wednesday, November 6, 2019. Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, and Catherine Hastings, Chief F... Read More...
Innovative Industrial Properties Acquires Florida Property and Expands Real Estate Partnership with Trulieve Cannabis Corp.

Innovative Industrial Properties Acquires Florida Property and Expands Real Estate Partnership with Trulieve Cannabis Corp.

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Quincy, Florida, which comprises five buildings totaling approximat... Read More...
Innovative Industrial Properties Acquires Michigan Property and Enters Into Long-Term Lease with LivWell

Innovative Industrial Properties Acquires Michigan Property and Enters Into Long-Term Lease with LivWell

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Warren, Michigan, which comprises approximately 156,000 square feet... Read More...
Innovative Industrial Properties Acquires Pennsylvania Property and Enters Into Long-Term Lease with Maitri Genetics

Innovative Industrial Properties Acquires Pennsylvania Property and Enters Into Long-Term Lease with Maitri Genetics

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property in Pittsburgh, Pennsylvania, which comprises approximately 51,... Read More...
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