Innovative Industrial Properties (NYSE:IIPR) Shares Gap Up – Time to Buy?

12 Dec 2025, 18:15 by Mitch Edgeman · The Markets Daily

Shares of Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $52.11, but opened at $55.34. Innovative Industrial Properties shares last traded at $56.87, with a volume of 230,088 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on IIPR. Weiss Ratings restated a “hold (c-)” rating on shares of Innovative Industrial Properties in a research note on Monday. Piper Sandler boosted their price objective on Innovative Industrial Properties from $43.00 to $44.00 and gave the company an “underweight” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $78.50.

View Our Latest Stock Analysis on IIPR

Innovative Industrial Properties Stock Up 10.1%

The business has a 50-day moving average of $51.28 and a 200 day moving average of $53.74. The company has a market capitalization of $1.61 billion, a PE ratio of 13.64 and a beta of 1.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 2.75.

Innovative Industrial Properties (NYSE:IIPR – Get Free Report) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.71 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.02). Innovative Industrial Properties had a net margin of 45.80% and a return on equity of 6.77%. The firm had revenue of $64.69 million for the quarter, compared to analysts’ expectations of $63.72 million. During the same quarter in the prior year, the business earned $2.25 EPS. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. Equities research analysts predict that Innovative Industrial Properties, Inc. will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $1.90 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 13.2%. Innovative Industrial Properties’s dividend payout ratio (DPR) is presently 180.09%.

Insider Activity at Innovative Industrial Properties

In related news, CFO David Jon Smith acquired 600 shares of Innovative Industrial Properties stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of $45.90 per share, with a total value of $27,540.00. Following the completion of the purchase, the chief financial officer directly owned 600 shares of the company’s stock, valued at $27,540. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Alan D. Gold acquired 2,600 shares of the stock in a transaction dated Monday, November 24th. The stock was bought at an average cost of $49.09 per share, with a total value of $127,634.00. Following the completion of the purchase, the chairman directly owned 2,600 shares in the company, valued at approximately $127,634. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 4,200 shares of company stock worth $201,434 over the last three months. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Innovative Industrial Properties

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Innovative Industrial Properties by 1.0% in the first quarter. Vanguard Group Inc. now owns 4,469,353 shares of the company’s stock worth $241,747,000 after purchasing an additional 45,617 shares during the last quarter. Invesco Ltd. lifted its position in shares of Innovative Industrial Properties by 15.2% in the 3rd quarter. Invesco Ltd. now owns 440,364 shares of the company’s stock worth $23,595,000 after purchasing an additional 58,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Innovative Industrial Properties by 5.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 304,527 shares of the company’s stock valued at $16,317,000 after acquiring an additional 16,471 shares in the last quarter. AlphaCore Capital LLC boosted its position in Innovative Industrial Properties by 0.8% during the third quarter. AlphaCore Capital LLC now owns 211,407 shares of the company’s stock valued at $11,729,000 after purchasing an additional 1,777 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Innovative Industrial Properties by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,365 shares of the company’s stock valued at $11,433,000 after buying an additional 13,291 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors.

About Innovative Industrial Properties

(Get Free Report)

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 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.