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Innovative Industrial Properties, Inc.

corporate_fare Company Profile

Innovative Industrial Properties, Inc.

IIPR·NYSE·Real Estate & Construction·CIK 0001677576

Innovative Industrial Properties, Inc. is an internally-managed real estate investment trust (REIT) that acquires, owns, and manages specialized industrial and commercial properties in the United States. The company's primary focus is on properties leased to experienced, state-licensed operators for their regulated cannabis facilities. These cannabis properties are typically acquired through sale-leaseback transactions and third-party purchases and are generally leased on a triple-net lease basis. Under this structure, the tenant is responsible for all property-related costs and operations, including structural repairs, maintenance, real estate taxes, and insurance, during the lease term. Beyond the cannabis sector, the company also holds financial investments in the life science industry and plans to actively acquire properties within this sector. Leases outside the cannabis sector may feature different structures where tenants do not assume all property-related expenses. The company may also expand its investment activities to include joint ventures, debt or mezzanine financing, preferred or joint venture equity interests, and interests in other real estate funds or REITs. Incorporated in Maryland on June 15, 2016, Innovative Industrial Properties operates through an UPREIT structure, with its properties owned by its Operating Partnership, directly or through subsidiaries. The company is the sole general partner and owns 100% of the limited partnership interests in its Operating Partnership. As of December 31, 2025, the company had 23 full-time employees.

Innovative Industrial Properties, Inc. (NYSE:IIPR) is a publicly traded company in the Real Estate & Construction sector. Wiseek monitors IIPR SEC EDGAR filings and licensed market news in real time, scoring each submission for market-moving significance on a 1–10 scale. Items rated 7 or higher generate instant alerts.

Recent high-impact activity:

  • IIPR Tenant Parallel Defaults on Rent, Ceases Operations at Two Florida Properties
  • IIPR Finalizes $402.5M Notes Offering, Declares $1.90 Q2 Common Dividend
  • IIPR Finalizes $402.5M Exchangeable Notes, Repurchases $80.5M Stock at Premium
  • Innovative Industrial Properties Prices Upsized $402.5M Exchangeable Notes, Repays $282M Debt
  • Stockholders Approve New Equity Incentive Plan Authorizing 1.25M Shares

Financial Snapshot

Fiscal year ended December 31, 2025
Revenue
$265.95M
Net Income
$118.25M
Diluted EPS
$3.93
Op. Cash Flow
$198.19M
Operating Income
$124.12M
Cash & Equivalents
$47.6M
Total Debt
$393.71M
Debt / Equity
0.21×
Net Margin
44.5%
Shares Outstanding
28.02M sh
Source: 10-K · filed 2026-02-24 · accession 0001677576-26-000001

Dilution Risk

Low risk

Filing-implied dilution signals for IIPR, detected from its recent SEC filings · based on capital-structure filings through 2026-06-11.

1 recent capital raiseATM program

Upsized Exchangeable Notes Offering Priced · Major Debt Repayment Completed

⚠ A more recent filing has been published for this ticker since this signal was computed; it may not yet be reflected — see the filings below.

A filing-implied signal, not a realized share count. How Wiseek tracks dilution →

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$60 -0.57% today
52-week range · as of 2026-07-21 $44.58 – $65.38
Market cap
$1.76B
Volume
234.8K (0.7× avg)
3-mo avg 360K
Live data · 2026-07-29 09:34 UTC · Pre-market

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feed IIPR - Latest Insights

IIPR
Jul 21, 2026, 8:30 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $64.00
Real-time Price: $60.00 info
Change: -$4.00 (-6%) info
Market Cap: $1.756B info
IIPR
Jun 16, 2026, 3:13 AM EDT
Source: Wiseek News
Importance Score:
9
Price at Filing: $60.50
Real-time Price: $60.00 info
Change: -$0.500 (-0.83%) info
Market Cap: $1.756B info
IIPR
Jun 15, 2026, 5:26 PM EDT
Filing Type: 8-K
Importance Score:
9
Price at Filing: $60.50
Real-time Price: $60.00 info
Change: -$0.500 (-0.83%) info
Market Cap: $1.756B info
IIPR
Jun 11, 2026, 5:17 PM EDT
Filing Type: 8-K
Importance Score:
9
Price at Filing: $61.77
Real-time Price: $60.00 info
Change: -$1.77 (-3%) info
Market Cap: $1.756B info
IIPR
Jun 09, 2026, 4:42 PM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $57.96
Real-time Price: $60.00 info
Change: +$2.04 (+4%) info
Market Cap: $1.756B info
IIPR
Jun 09, 2026, 4:35 PM EDT
Source: Reuters
Importance Score:
9
Price at Filing: $58.71
Real-time Price: $60.00 info
Change: +$1.29 (+2%) info
Market Cap: $1.756B info
IIPR
May 22, 2026, 4:14 PM EDT
Filing Type: 424B5
Importance Score:
9
Price at Filing: $57.06
Real-time Price: $60.00 info
Change: +$2.94 (+5%) info
Market Cap: $1.756B info
IIPR
May 22, 2026, 4:13 PM EDT
Source: Wiseek News
Importance Score:
8
Price at Filing: $57.06
Real-time Price: $60.00 info
Change: +$2.94 (+5%) info
Market Cap: $1.756B info
IIPR
May 22, 2026, 4:10 PM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $57.06
Real-time Price: $60.00 info
Change: +$2.94 (+5%) info
Market Cap: $1.756B info
IIPR
May 20, 2026, 7:00 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $54.62
Real-time Price: $60.00 info
Change: +$5.38 (+10%) info
Market Cap: $1.756B info
IIPR
May 19, 2026, 6:01 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $54.58
Real-time Price: $60.00 info
Change: +$5.42 (+10%) info
Market Cap: $1.756B info
IIPR
May 06, 2026, 5:07 PM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $57.70
Real-time Price: $60.00 info
Change: +$2.30 (+4%) info
Market Cap: $1.756B info
IIPR
May 05, 2026, 4:11 PM EDT
Filing Type: 10-Q
Importance Score:
9
Price at Filing: $60.47
Real-time Price: $60.00 info
Change: -$0.470 (-0.78%) info
Market Cap: $1.756B info
IIPR
May 04, 2026, 5:13 PM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $53.50
Real-time Price: $60.00 info
Change: +$6.50 (+12%) info
Market Cap: $1.756B info
IIPR
May 04, 2026, 4:42 PM EDT
Source: Reuters
Importance Score:
7
Price at Filing: $53.50
Real-time Price: $60.00 info
Change: +$6.50 (+12%) info
Market Cap: $1.756B info
IIPR
Apr 29, 2026, 4:43 PM EDT
Source: Wiseek News
Importance Score:
7
Price at Filing: $53.22
Real-time Price: $60.00 info
Change: +$6.78 (+13%) info
Market Cap: $1.756B info
IIPR
Apr 29, 2026, 4:34 PM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $53.49
Real-time Price: $60.00 info
Change: +$6.51 (+12%) info
Market Cap: $1.756B info
IIPR
Apr 22, 2026, 4:34 PM EDT
Filing Type: DEF 14A
Importance Score:
8
Price at Filing: $55.85
Real-time Price: $60.00 info
Change: +$4.15 (+7%) info
Market Cap: $1.756B info
IIPR
Mar 16, 2026, 6:46 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $52.99
Real-time Price: $60.00 info
Change: +$7.01 (+13%) info
Market Cap: $1.756B info
IIPR
Mar 04, 2026, 6:03 AM EST
Source: Wiseek News
Importance Score:
8
Price at Filing: $53.65
Real-time Price: $60.00 info
Change: +$6.35 (+12%) info
Market Cap: $1.756B info