IIPR - Innovative Industrial Properties, Inc.

NYSE - NYSE Delayed Price. Currency in USD
93.47
+3.24 (+3.59%)
At close: 4:00PM EDT
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Commodity Channel Index

Commodity Channel Index

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close90.23
Open91.26
Bid93.35 x 1100
Ask94.47 x 2900
Day's Range90.51 - 95.67
52 Week Range40.21 - 139.53
Volume350,378
Avg. Volume488,289
Market Cap1.74B
Beta (5Y Monthly)1.92
PE Ratio (TTM)64.69
EPS (TTM)1.45
Earnings DateAug 05, 2020 - Aug 10, 2020
Forward Dividend & Yield4.00 (4.43%)
Ex-Dividend DateMar 30, 2020
1y Target Est106.90
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Undervalued
46% Est. Return
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    The legal marijuana industry is still very young, and new companies in growing industries need money to expand. Furthermore, U.S. investors in the marijuana space tend to currently focus on a handful of Canadian companies that have enjoyed the opportunity to list on U.S. exchanges. While the marijuana industry has been broadly struggling in recent months, these are the top dividend-paying marijuana stocks.

  • Business Wire

    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 underwriter’s option to purchase an additional 202,259 shares of common stock in connection with the Company’s previously announced follow-on offering that priced on May 26, 2020. In total, the Company sold 1,550,648 shares of common stock in the offering, raising gross offering proceeds of approximately $115.0 million.

  • Innovative Industrial Properties Is Floating a Roughly $100 Million New Stock Offering
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    Innovative Industrial Properties Is Floating a Roughly $100 Million New Stock Offering

    In what is by no means the first, and won't be anywhere near the last, round of capital-raising by a marijuana company, Innovative Industrial Properties (NYSE: IIPR) is floating a new stock issue. The real estate investment trust (REIT), which specializes exclusively in properties used by cannabis companies, said on Wednesday that it will sell just under 1.35 million new shares of its common stock. All told, according to Innovative, the issue should bring in gross proceeds of approximately $100 million.

  • Business Wire

    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 Company has also granted the underwriter a 30-day option to purchase up to an additional 202,259 shares of its common stock. All of the shares are being sold by the Company.

  • MarketWatch

    Cannabis REIT to sell 1 million shares in public offering

    Cannabis real estate investment trust Innovative Industrial Properties Inc. said late Tuesday that it plans to raise money by selling 1 million shares. IIPR stock fell 1.8% in late trading Tuesday after closing up 2.6% to $85 during the regular session. The company said that it plans to use the proceeds to invest in real estate assets for cannabis cultivation and processing and general corporate purposes. BTIG is the sole underwriter and it is being given the option to sell an additional 150,000 shares. IIPR stock has fallen 2.6% this year, as the S&P 500 index has gained 4.6%.

  • Business Wire

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

    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 are being sold by the Company.

  • Declining Stock and Decent Financials: Is The Market Wrong About Innovative Industrial Properties, Inc. (NYSE:IIPR)?
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    Innovative Industrial Properties (NYSE: IIPR) stock is a smart pick to buy right now. Before we delve into why Innovative Industrial Properties is a great cannabis stock to buy, let's address the objections to the stock. Short-seller Grizzly Research raised concerns about IIP in April with a blistering report on the company.

  • Innovative Industrial Properties Acquires California Property for $17.5 Million, Leases It Immediately
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    Innovative Industrial Properties Acquires California Property for $17.5 Million, Leases It Immediately

    Innovative Industrial Properties (NYSE: IIPR) has expanded its portfolio with the addition of new real estate in California. It did, however, reveal that it has already leased the property to Kings Garden, a privately held marijuana cultivation company active in the state that holds licenses not only for growing, but also production, processing, delivery, and distribution. Kings Garden and Innovative have a history together; this is the fifth property it has leased from the REIT.

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  • Business Wire

    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.

  • Innovative Industrial Properties, Inc. (IIPR) Q1 2020 Earnings Call Transcript
    Motley Fool

    Innovative Industrial Properties, Inc. (IIPR) Q1 2020 Earnings Call Transcript

    Presenting today are Alan Gold, Executive Chairman; Paul Smithers, President and Chief Executive Officer; Catherine Hastings, Chief Financial Officer; and Ben Regin, Vice President of Investments. Before we begin, I'd like to remind everyone that statements made during today's conference call may be deemed forward-looking statements within the meaning of the safe harbor of the Private Securities Litigation Reform Act of 1995, and actual results may differ materially due to a variety of risks, uncertainties and other factors.

  • Innovative Industrial Properties Slips Nearly 3% on Q1 Earnings Miss
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    Innovative Industrial Properties Slips Nearly 3% on Q1 Earnings Miss

    The stock of Innovative Industrial Properties (NYSE: IIPR) received a smack on the chin from investors on Thursday for its first-quarter fiscal 2020 results. The company, the only marijuana-focused real estate investment trust (REIT) traded on the stock market, released those quarterly figures after hours on Wednesday. Adjusted funds from operations (FFO), considered a more accurate measure of profitability for REITs, ballooned to almost $17.8 million ($1.12 per share) from the year-ago figure of just under $5.3 million.

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    Innovative Industrial Properties Earnings and Revenue Miss Expectations

    Cannabis stock IIPR looks poised to fall on Thursday following the REIT's release of Q1 results on Wednesday afternoon.

  • MarketWatch

    Cannabis REIT Innovative Industrial Properties shares fall after earnings

    Marijuana real estate investment trust Innovative Industrial Properties Inc. shares fell 2.6% in after-hours trading Wednesday after the company reported first-quarter net income of $11.5 million, or 72 cents a share, compared with net income of $3.3 million, or 33 cents a share a year ago. Revenue rose to $21.1 million from $6.8 million in the year-ago quarter. The four analysts surveyed by FactSet estimated revenue of $20.8 million. The company noted that in the majority of U.S. states, cannabis has been deemed an essential business but the company did not discuss any further impacts on its REIT operations. The company was the subject of a short report in April by Grizzly Research that claimed it was akin to the "WeWork of cannabis." Innovative Industrial stock is down 7.1% in the past year, as the S&P 500 index fell 2.2%.

  • Business Wire

    Innovative Industrial Properties Reports First Quarter 2020 Results

    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.

  • Key Factors to Impact Innovative Industrial (IIPR) Q1 Earnings
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    Key Factors to Impact Innovative Industrial (IIPR) Q1 Earnings

    With more states in the United States giving cannabis the green light, Innovative Industrial Properties' (IIPR) investment in such properties is likely to have aided its Q1 performance.

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    Cannabis REIT Innovative Industrial Properties has soundly beat Wall Street's expectations in the last two quarters.

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    What prompted me to part with my hard-earned cash and invest it in this cannabis stock? First and foremost, I think that Innovative Industrial Properties has tremendous growth prospects. Over the last three years, IIP's trailing-12-month revenue has skyrocketed more than 900%.

  • Business Wire

    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.

  • Business Wire

    Innovative Industrial Properties Acquires Michigan Property and Expands Real Estate Partnership with Cresco Labs

    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 Michigan, which comprises approximately 115,000 square feet of industrial space in the aggregate.

  • Innovative Industrial Properties (NYSE:IIPR) Has Rewarded Shareholders With An Exceptional 339% Total Return On Their Investment
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    Innovative Industrial Properties (NYSE:IIPR) Has Rewarded Shareholders With An Exceptional 339% Total Return On Their Investment

    Innovative Industrial Properties, Inc. (NYSE:IIPR) shareholders might be concerned after seeing the share price drop...

  • Business Wire

    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 Executive Chairman, Alan Gold. The report is flawed and demonstrates a fundamental misunderstanding of IIP’s business model. As such, most of the report’s content does not warrant a response from IIP. Mr. Gold, however, strongly refutes any inference that he is not firmly committed to the long-term success of IIP.