Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.
IPO Year: 2016
Exchange: NYSE
Website: innovativeindustrialproperties.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/8/2024 | $125.00 | Neutral → Buy | Compass Point |
| 9/5/2023 | $95.00 | Buy → Neutral | Compass Point |
| 6/30/2023 | $80.00 | Overweight → Neutral | Piper Sandler |
| 5/10/2023 | $125.00 → $80.00 | Buy → Hold | Craig Hallum |
| 1/20/2023 | Mkt Outperform → Mkt Perform | JMP Securities | |
| 9/19/2022 | $100.00 → $175.00 | Neutral → Buy | Compass Point |
| 8/8/2022 | $100.00 | Buy → Neutral | Compass Point |
| 7/19/2022 | Outperform → Peer Perform | Wolfe Research | |
| 7/15/2022 | $290.00 → $248.00 | Buy | BTIG Research |
| 5/9/2022 | $175.00 | Hold → Buy | Craig Hallum |
8-K - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
10-Q - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
8-K - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
10-Q/A - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
10-Q/A - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
10-K/A - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
8-K - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
10-Q - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
8-K - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
8-K - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Filer)
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 third quarter ended September 30, 2024. Financial Results, Dividend and Capital Raising Activity Generated total revenues of $76.5 million and net income attributable to common stockholders of $39.7 million, or $1.37 per share (all per share amounts in this press release are reported on a diluted basis unless otherwise noted). Recorded adjusted funds from operations (AFFO) and normalized funds from operations (Normalized FFO) of $64.3 million and $57.8 million, respectively. Pai
Innovative Industrial Properties, Inc. (NYSE:IIPR) announced today it will report results for its third quarter ended September 30, 2024 after the market closes on Wednesday, November 6, 2024. Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, David Smith, Chief Financial Officer, Catherine Hastings, Chief Operating Officer, and Ben Regin, Chief Investment Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Thursday, November 7, 2024, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at www.in
Q3 2024 Cash Dividend of $1.90 Per Common Share Equates to Annualized Dividend of $7.60 per Common Share 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 third quarter 2024 dividend of $1.90 per share of common stock, representing an annualized dividend of $7.60 per common share. "We are proud to declare our 30th consecutive quarterly dividend since our inception in 2016," said Paul Smithers, President and Chief Executive Officer of IIP. "Since our inception, we have continued to share our growing cash fl
Second quarter dividend increased 4.4%, continuing track record of increasing dividend every year since inception in 2016 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 second quarter ended June 30, 2024. Second Quarter 2024 Financial Results and Dividend Generated total revenues of $79.8 million and net income attributable to common stockholders of $41.7 million, or $1.44 per share (all per share amounts in this press release are reported on a diluted basis unless otherwise noted). Recorded adjusted funds from operatio
Innovative Industrial Properties, Inc. (NYSE:IIPR) announced today it will report results for its second quarter ended June 30, 2024 after the market closes on Monday, August 5, 2024. Alan Gold, Executive Chairman; Paul Smithers, President and Chief Executive Officer; David Smith, Chief Financial Officer; Catherine Hastings, Chief Operating Officer; and Ben Regin, Chief Investment Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Tuesday, August 6, 2024, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at www.innovativein
Q2 2024 Cash Dividend of $1.90 Per Common Share Equates to 4.4% Increase from Prior Quarter and an Annualized Dividend of $7.60 per Common Share 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 2024 dividend of $1.90 per share of common stock, representing a 4.4% increase over IIP's first quarter 2024 dividend of $1.82 per share of common stock. The dividend is equivalent to an annualized dividend of $7.60 per common share. "We are pleased to announce an increase in our quarterly common s
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 16 acre property comprising 145,000 square feet of industrial space in Ocala, Florida, and entered into a long-term, triple-net lease with a subsidiary of AYR Wellness Inc. (CSE:AYR, OTCQX:AYRWF) (AYR). The purchase price for the property was $13.0 million ($90 per square foot). AYR is expected to redevelop one building on the property comprising 98,000 square feet of industrial space for expected use as a regulated cannabis cultivation facility upon completion
Executed New Leases at Four Existing Properties Totaling $69.4 Million in Invested/Committed Capital YTD 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 first quarter ended March 31, 2024. First Quarter 2024 and Year-to-Date Financial Results and Dividend Generated total revenues of $75.5 million and net income attributable to common stockholders of $39.1 million, or $1.36 per share (all per share amounts in this press release are reported on a diluted basis unless otherwise noted). Recorded adjusted funds from operation
Innovative Industrial Properties, Inc. (NYSE:IIPR) announced today it will report results for its first quarter ended March 31, 2024 after the market closes on Wednesday, May 8, 2024. Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, David Smith, Chief Financial Officer, Catherine Hastings, Chief Operating Officer, and Ben Regin, Chief Investment Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Thursday, May 9, 2024, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at www.innovativeindu
Q1 2024 Cash Dividend of $1.82 per Common Share Contributes to Aggregate of $7.24 per Common Share Declared in Last Twelve Months 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 2024 dividend of $1.82 per share of common stock. The common stock dividends declared for the last twelve months total $7.24 per common share. Additionally, IIP announced today that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP's 9.00% Series A Cumulative Redeemable P
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SC 13G/A - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Subject)
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SC 13G/A - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Subject)
SC 13G/A - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Subject)
SC 13G/A - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Subject)
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4 - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Issuer)
4 - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Issuer)
4 - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Issuer)
4 - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Issuer)
4 - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Issuer)
4 - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Issuer)
4 - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Issuer)
4 - INNOVATIVE INDUSTRIAL PROPERTIES INC (0001677576) (Issuer)
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 third quarter ended September 30, 2024. Financial Results, Dividend and Capital Raising Activity Generated total revenues of $76.5 million and net income attributable to common stockholders of $39.7 million, or $1.37 per share (all per share amounts in this press release are reported on a diluted basis unless otherwise noted). Recorded adjusted funds from operations (AFFO) and normalized funds from operations (Normalized FFO) of $64.3 million and $57.8 million, respectively. Pai
Innovative Industrial Properties, Inc. (NYSE:IIPR) announced today it will report results for its third quarter ended September 30, 2024 after the market closes on Wednesday, November 6, 2024. Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, David Smith, Chief Financial Officer, Catherine Hastings, Chief Operating Officer, and Ben Regin, Chief Investment Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Thursday, November 7, 2024, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at www.in
Q3 2024 Cash Dividend of $1.90 Per Common Share Equates to Annualized Dividend of $7.60 per Common Share 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 third quarter 2024 dividend of $1.90 per share of common stock, representing an annualized dividend of $7.60 per common share. "We are proud to declare our 30th consecutive quarterly dividend since our inception in 2016," said Paul Smithers, President and Chief Executive Officer of IIP. "Since our inception, we have continued to share our growing cash fl
Second quarter dividend increased 4.4%, continuing track record of increasing dividend every year since inception in 2016 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 second quarter ended June 30, 2024. Second Quarter 2024 Financial Results and Dividend Generated total revenues of $79.8 million and net income attributable to common stockholders of $41.7 million, or $1.44 per share (all per share amounts in this press release are reported on a diluted basis unless otherwise noted). Recorded adjusted funds from operatio
Innovative Industrial Properties, Inc. (NYSE:IIPR) announced today it will report results for its second quarter ended June 30, 2024 after the market closes on Monday, August 5, 2024. Alan Gold, Executive Chairman; Paul Smithers, President and Chief Executive Officer; David Smith, Chief Financial Officer; Catherine Hastings, Chief Operating Officer; and Ben Regin, Chief Investment Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Tuesday, August 6, 2024, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at www.innovativein
Q2 2024 Cash Dividend of $1.90 Per Common Share Equates to 4.4% Increase from Prior Quarter and an Annualized Dividend of $7.60 per Common Share 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 2024 dividend of $1.90 per share of common stock, representing a 4.4% increase over IIP's first quarter 2024 dividend of $1.82 per share of common stock. The dividend is equivalent to an annualized dividend of $7.60 per common share. "We are pleased to announce an increase in our quarterly common s
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 16 acre property comprising 145,000 square feet of industrial space in Ocala, Florida, and entered into a long-term, triple-net lease with a subsidiary of AYR Wellness Inc. (CSE:AYR, OTCQX:AYRWF) (AYR). The purchase price for the property was $13.0 million ($90 per square foot). AYR is expected to redevelop one building on the property comprising 98,000 square feet of industrial space for expected use as a regulated cannabis cultivation facility upon completion
Executed New Leases at Four Existing Properties Totaling $69.4 Million in Invested/Committed Capital YTD 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 first quarter ended March 31, 2024. First Quarter 2024 and Year-to-Date Financial Results and Dividend Generated total revenues of $75.5 million and net income attributable to common stockholders of $39.1 million, or $1.36 per share (all per share amounts in this press release are reported on a diluted basis unless otherwise noted). Recorded adjusted funds from operation
Innovative Industrial Properties, Inc. (NYSE:IIPR) announced today it will report results for its first quarter ended March 31, 2024 after the market closes on Wednesday, May 8, 2024. Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, David Smith, Chief Financial Officer, Catherine Hastings, Chief Operating Officer, and Ben Regin, Chief Investment Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Thursday, May 9, 2024, to discuss the company's financial results and operations for the quarter. The call will be available through a live audio webcast at the Investor Relations section of the company's website at www.innovativeindu
Q1 2024 Cash Dividend of $1.82 per Common Share Contributes to Aggregate of $7.24 per Common Share Declared in Last Twelve Months 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 2024 dividend of $1.82 per share of common stock. The common stock dividends declared for the last twelve months total $7.24 per common share. Additionally, IIP announced today that its board of directors has declared a regular quarterly dividend of $0.5625 per share of IIP's 9.00% Series A Cumulative Redeemable P
Compass Point upgraded Innovative Industrial Properties from Neutral to Buy and set a new price target of $125.00
Compass Point downgraded Innovative Industrial Properties from Buy to Neutral and set a new price target of $95.00
Piper Sandler downgraded Innovative Industrial Properties from Overweight to Neutral and set a new price target of $80.00
Craig Hallum downgraded Innovative Industrial Properties from Buy to Hold and set a new price target of $80.00 from $125.00 previously
JMP Securities downgraded Innovative Industrial Properties from Mkt Outperform to Mkt Perform
Compass Point upgraded Innovative Industrial Properties from Neutral to Buy and set a new price target of $175.00 from $100.00 previously
Compass Point downgraded Innovative Industrial Properties from Buy to Neutral and set a new price target of $100.00
Wolfe Research downgraded Innovative Industrial Properties from Outperform to Peer Perform
BTIG Research reiterated coverage of Innovative Industrial Properties with a rating of Buy and set a new price target of $248.00 from $290.00 previously
Craig Hallum upgraded Innovative Industrial Properties from Hold to Buy and set a new price target of $175.00
The cannabis sector witnessed significant movement today, with varied performances across key stocks and ETFs following President Joe Biden’s Sunday announcement that he will not seek re-election. The news created ripples in the market, reflecting investor sentiment and speculation about future regulatory changes. Biggest Winners Aurora Cannabis (NASDAQ:ACB): Increased by 9.04% to $6.02. Positive sentiment is driven by strategic partnerships. Village Farms International (NASDAQ:VFF): Rose by 7.41% to $1.09. The stock benefited from operational efficiency news. Tilray Brands (NASDAQ:TLRY): Saw a rise of 6.70% to $1.87. Investor optimism on future growth prospects in Germany. SNDL (NASD
President Joe Biden's announcement that he will not seek re-election has impacted the cannabis stock market. The sector's reaction varied, reflecting investor sentiment and market speculation about future regulatory changes under a potential new administration. This analysis, derived from Benzinga Pro data, highlights the key movements among popular cannabis stocks 24 hours after the announcement. Biggest Losers Several cannabis stocks faced a downturn following the announcement. Curaleaf Holdings (OTC:CURLF) decreased by 1.3986% to $4.23. Jushi Holdings (OTC:JUSHF) dropped by 5.0847%, reaching $0.56. Green Thumb Industries (OTC:GTBIF) fell by 2.3444% to $11.455. Trulieve Cannabis (OTC:TCN
Roth MKM analyst Scott Fortune maintains Innovative Ind Props (NYSE:IIPR) with a Buy and raises the price target from $115 to $140.
Chicago Atlantic Real Estate Finance (NASDAQ:REFI) stands out in the cannabis capital providers and mortgage REIT (mREIT) sectors due to its premium valuation, impressive dividend yield, and robust growth track record. Pablo Zuanic, a senior equity analyst, noted in a recent report, "Of the six publicly listed cannabis capital providers, five are NASDAQ listed, being NLCP (OTC:NLCP) the exception. However, some may not currently provide the right comp due to poor liquidity, size, and relative newness." Performance And Valuation Comparison REFI trades at a 3% premium to its book value, reflecting strong investor confidence in its growth prospects. This stands in contrast to other cannabis
In an engaging episode of Benzinga’s Cannabis Insider podcast, hosts Patricio Liddle and Nicolás Rodríguez welcomed Cody Shandraw, president of Healing Realty Trust, to discuss the role of real estate in the burgeoning sector of psychedelic therapies. Shandraw, who spearheads the strategic real estate services for this innovative healthcare field, illuminated the intersections of mental health treatments and property management. The Business Of Psychedelic Real Estate “Every day brings something new. Whether it’s regulatory updates, clinician interests, investor inquiries. It’s reminiscent of the early cannabis excitement in 2015,” Shandraw began, capturing the dynamic evolution of the
New Lake Capital Partners (OTC:NLCP), which owns, operates or finances income-producing cannabis-focused real estate, is gaining traction among investors, evidenced by an 11% rise in stock price over the past 90 days. The company's financial health and growth potential present a less volatile yet promising opportunity for investors in the cannabis sector, according to senior analyst Pablo Zuanic from Zuanic & Associates. In a recent company update Zuanic noted: "With a favorable industry backdrop and strategic positioning, NLCP is well-equipped to deliver above-average shareholder returns." Portfolio Expansion And Financial Health NLCP recently announced a $16 million investment in Conne
NewLake Capital Partners (OTCQX:NLCP) has emerged as a compelling player in the cannabis REIT sector, boasting an 8.6% dividend yield - above Innovative Industrial Properties Inc (NYSE:IIPR)'s 7.01% but below AFC Gamma (NASDAQ:AFCG)'s 15.45%. In a recent analysis on Seeking Alpha, Jussi Askola, CFA, examined NLCP’s strengths and prospects. Askola, president of Leonberg Capital, highlighted NLCP's unique financial health and growth trajectory, making it a standout in the current market. Robust Financial Health And Growth Prospects NLCP's portfolio primarily consists of net lease cannabis cultivation facilities, secured with 14-year leases and annual rent escalations nearing 3%. One of the
The chart shows the YTD stock performance of two equally weighted baskets of stocks. The orange line depicts the YTD performance of a basket of the top five MSOs by market cap: Curaleaf (OTC:CURLF), GTI (OTC:GTBIF), Trulieve (OTC:TCNNF), Verano (OTC:VRNOF), and Cresco (OTC:CRLBF). The green line shows the YTD results of a basket of the top five cannabis lenders and sale-leaseback providers: IIPR (NYSE:IIPR), Chicago Atlantic, AFC Gamma (NASDAQ:AFCG), NewLake Capital (OTC:NLCP), and Silver Spike (NASDAQ:SSIC). The blue line shows the MSOS ETF’s YTD performance. Note that the MSOS ETF price has a .97 correlation with the price of a simple equal-weighted basket of the top five MSOs but signi
With increasing state-level legalizations, real estate investment trusts (REITs) such as Innovative Industrial Properties, Inc. (NYSE:IIPR) NewLake Capital Partners, Inc. (OTCQX:NLCP) and Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) are funds that provide capital, navigating the dissonance between state and federal laws. Brad Thomas, real estate analyst and author of "REITs For Dummies," discusses the valuation of these stocks and the role REITs play in the cannabis industry. The aggregate financial engagement (considering committed capital and equivalent significant activities) between Innovative Industrial Properties and Chicago Atlantic is approximately $4.5 billion. Indu