Pricing Log in Create free account
Saturday 17 October 2026 Export IIPR’s income statement to Excel — free account

Innovative Industrial Properties, Inc.

IIPR Real Estate Reit Industrial

Innovative Industrial Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $266.0 million, down 13.8% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 59.8%, free cash flow grew 74.3% and total debt rose 110.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.

52.39 0.81 −1.52%
Market cap
$1.5B
P/E
11.7×
Fwd P/E
13.7×
Dividend yield
14.5%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Innovative Industrial Properties, Inc. (IIPR) P/E ratio

Alert me on P/E ratio

As of 16 October 2026, Innovative Industrial Properties, Inc. (IIPR) trades at a P/E ratio of 11.7×. Over the past ten years it has ranged from 0.0× (March 2018) to 277× (June 2018); the current reading is higher than 18% of that period. That is below the Reit Industrial industry median of 27.9× and below the Real Estate sector median of 21.6×.

P/E ratio, daily

Embed this chart

Annual newest first

Period P/E ratio Change
FY2025 11.9× (0.36%)
FY2024 11.9× (31.31%)
FY2023 17.4× (1.41%)
FY2022 17.6× (68.47%)
FY2021 55.9× (1.34%)
FY2020 56.7× 49.46%
FY2019 37.9× (38.15%)
FY2018 61.3× —
FY2017 0.0× —
FY2016 0.0× —

Quarterly newest first

Period P/E ratio Change
Jun 2026 13.8× 9.25%
Mar 2026 12.6× 6.18%
Dec 2025 11.9× (4.72%)
Sep 2025 12.5× 5.85%
34 more quarters

Against its own ten years

Low 0.0× High 277×
Ten-year median 19.2×
Current reading's percentile 7

P/E ratio against peers

Company P/E ratio
ILPT Industrial Logistics Properties Trust compare n/m
LINE Lineage, Inc. compare n/m
COLD Americold Realty Trust Inc. compare n/m
IIPR Innovative Industrial Properties, Inc. 11.7×
TRNO Terreno Realty Corporation compare 17.2×
FR First Industrial Realty Trust, Inc. compare 21.4×
STAG Stag Industrial, Inc. compare 27.6×
LXP LXP Industrial Trust compare 61.1×
SMA Smartstop Self Storage REIT Inc compare 67.0×
Reit Industrial industry median 27.9×
Real Estate sector median 21.6×
Market median 18.1×

What P/E ratio is

Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.

Stock Price ÷ EPS (Basic) (TTM)

The full definition of P/E ratio →

More on IIPR