IIPR
Innovative Industrial Properties Inc
$63.72
-0.07 (-0.11%)
At close · Jul 14
Market Cap
$1.83B
Shares
28,774,470
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$63.72
Open$64.85
Day$63.40–64.85
52W$40.67–64.85
Avg vol 30d431K
Short int4.0M · 14.0% float · 8.9d
Short vol46%
Last earningsMay 4, 2026
DataJan 2020–Jul 2026
Filing10-Q · May 5
Up next
Next earnings call
Aug 3, 2026
Est · unconfirmed
· in 3 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed May 5, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment advice
Overall
Buy
SellHoldBuy
Technical
Strong Buy
Momentum
Very Strong
Sentiment
Neutral
Fundamentals
Fair
Quant / Vol
Moderate
Market backdrop
VIX 16.5 · calm
Equity put/call 0.62
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+20%
above
Price vs 50-day avg
+8%
above
RSI (14)
62
neutral
MACD trend
Positive
52-week position
95%
near high
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
+5%
trailing
6-month return
+33%
trailing
YTD return
+40%
this year
Relative strength
+22%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $59 › 200d $53 — 50d above 200d
Institutional flow
Accumulating
23 of 304 funds reported for Jun 30 · net +32.3K sh shares · +2 new
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
13.99% of float · ▲ +7.5% MoM · 8.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr low
304 holders — near 3-yr low, contrarian setup
Squeeze score
76
high risk · 0–100
Fundamentals
Revenue growth
−14%
Y/Y
EPS growth
−29%
Y/Y
Free cash flow
$195.2M
Valuation
P/E 16.3
below peers
Buyback
$100.0M
authorized
Balance sheet
$346.1M
net debt
Quant / Vol
risk profile
Volatility
41%
annualized · 1-yr
Max drawdown
−21%
past year
ATR
2.7%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Technicals
trend & momentum for long-term holders Strong Buy
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+20%
Bullish
Price vs 50-day avg
+8%
Bullish
RSI (14)
62
Neutral
MACD trend
Positive
Bullish
52-week position
95%
Bullish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $59 › 200d $53 — 50d above 200d
Institutional flow
Accumulating
23 of 304 funds reported for Jun 30 · net +32.3K sh shares · +2 new
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
13.99% of float · ▲ +7.5% MoM · 8.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr low
304 holders — near 3-yr low, contrarian setup
Price context
position in its 52-week range
52-wk low $41
Now $64 · 95%
52-wk high $65
vs 200-day avg +20%
vs 50-day avg +8%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from its earnings releases, calls, and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| AFFO per share non-GAAP | $1.88 | Q1 2026 call | — |
|
|
|||
| cash on hand | 89M | as of March 31, 2026 call | — |
| common equity raised year-to-date | 36M | year-to-date Q1 2026 call | — |
| debt service coverage ratio | 11 | Q1 2026 call | — |
| gross capital raised year-to-date | 128M | year-to-date Q1 2026 call | — |
| IQHQ commitment funded to date | 175M | Q1 2026 call | — |
| IQHQ commitment remaining | 95M | Q1 2026 call | — |
| IQHQ total commitment | 270M | Q1 2026 call | — |
| net debt to adjusted EBITDA non-GAAP | 1.1 | Q1 2026 call | — |
| new leases signed (square feet) | 331,000 | Q1 2026 call | — |
| pending financing transactions | 130M | Q1 2026 call | — |
| preferred equity raised year-to-date | 72M | year-to-date Q1 2026 call | — |
| revolving credit facility availability | 87.5M | as of March 31, 2026 call | — |
| secured debt raised year-to-date | 20M | year-to-date Q1 2026 call | — |
| total liquidity | 177M | as of March 31, 2026 call | — |
| Adjusted funds from operations (AFFO) non-GAAP | 205,412K | Year Ended December 31, 2025 | — |
| Normalized FFO non-GAAP | 193,522K | Year Ended December 31, 2025 | — |
| Normalized FFO per diluted share non-GAAP | $6.82 | Year Ended December 31, 2025 | — |
| Normalized FFO per share non-GAAP | $1.78 | Three Months Ended December 31, 2025 | — |
Figures exactly as the company stated them · click a metric with a to chart its history · period links open the stating document · "call" marks figures stated on the earnings call, "filing" figures stated in the 10-K/10-Q · YoY needs the prior-year figure on file
Versus peers
REIT - Industrial — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
IIPR
this stock
Innovative Industrial Properties Inc
|
$1.83B | +39.8% | +12.0% | 16.3 | 14.0% |
|
PLD
Prologis, Inc.
|
$132.54B | +12.3% | +7.2% | 35.8 | 1.4% |
|
PSA
Public Storage
|
$55.99B | +24.2% | +2.7% | 33.0 | 3.8% |
|
EXR
Extra Space Storage Inc.
|
$30.74B | +13.0% | +33.1% | 32.7 | 2.1% |
|
EGP
Eastgroup Properties Inc
|
$11.36B | +19.6% | +12.7% | 38.4 | 5.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| IIPR | +3.1% | +5.3% | +32.8% | +2.8% | +39.8% |
| SPY | +0.6% | +1.4% | +11.0% | +0.7% | +10.3% |
| vs SPY | +2.5% | +4.0% | +21.8% | +2.1% | +29.5% |
Capital returns
Latest dividend
$1.90
/ share · ex Jun 30, 2026
Paid (TTM)
$7.60
/ share · 4 payouts
Dividend yield (TTM, derived)
11.93%
Buyback program
· as of Mar 31, 2025
Authorized
$100.00M
Spent (derived)
—
Remaining
—
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1677576
CUSIP
45781V101
13F (30d)
31 filings
22 filers
Visit website
Investor relations