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Innovative Industrial Properties Inc Stock Research

IIPR

87.41USD+0.99(+1.15%)Market Closed

Market Summary

USD87.41+0.99
Market Closed
1.15%

IIPR Stock Price

IIPR RSI Chart

IIPR Valuation

Market Cap

2.4B

Price/Earnings (Trailing)

17.28

Price/Sales (Trailing)

9.23

Price/Free Cashflow

10.79

IIPR Price/Sales (Trailing)

IIPR Profitability

Return on Equity

7.19%

Return on Assets

5.82%

Free Cashflow Yield

9.27%

IIPR Fundamentals

IIPR Revenue

Revenue (TTM)

264.8M

Revenue Y/Y

31.62%

Revenue Q/Q

0.53%

IIPR Earnings

Earnings (TTM)

141.5M

Earnings Y/Y

25%

Earnings Q/Q

-6.46%

Price Action

52 Week Range

81.00202.57
(Low)(High)

Last 7 days

-1.8%

Last 30 days

-11.5%

Last 90 days

-16.3%

Trailing 12 Months

-49.2%

IIPR Financial Health

IIPR Investor Care

Dividend Yield

1.48%

Shares Dilution (1Y)

17.09%

Diluted EPS (TTM)

5.2

Peers (Alternatives to Innovative Industrial Properties)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
52.5B
4.0B
7.67% -8.93%
11.52
13.06
24.01% 170.44%
36.1B
4.0B
11.78% -8.09%
14.04
7.05
-3.96% -2.35%
32.0B
4.6B
11.98% -21.93%
22.2
7
4.35% 106.20%
19.9B
2.2B
11.82% -16.88%
55.7
9.14
12.27% 38.71%
17.8B
1.5B
10.37% 18.30%
36.38
12.26
14.82% 9.92%
MID-CAP
4.9B
260.9M
15.58% -8.12%
28.35
18.63
24.15% 150.18%
3.1B
1.7B
19.09% -17.90%
19.65
1.8
30.46% 612.18%
2.4B
264.8M
-11.55% -49.19%
17.28
9.23
44.96% 32.63%
SMALL-CAP
1.9B
424.9M
13.59% -9.92%
24.76
4.37
10.72% -5.36%
1.7B
161.8M
6.93% 29.65%
20.88
10.42
5.67% 2.67%
1.5B
-
15.91% -50.32%
261.42
1.63
16.31% -35.19%
1.4B
408.2M
5.82% -9.78%
51.71
3.46
24.68% -9.60%
846.6M
372.5M
10.72% -2.03%
11.28
2.27
19.13% 197.64%
817.9M
573.6M
24.93% -24.80%
183.95
1.43
-0.38% 116.60%
663.2M
112.6M
2.74% 25.05%
-7.1
5.89
-2.74% 31.02%

Financials for Innovative Industrial Properties

Income Statement (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q32022Q22022Q12021Q42021Q3
Revenue6.9%265248226205183
Operating Expenses13.4%10189796963
  S&GA Expenses18.8%3529262321
Interest Expenses-8.2%2022211814
Net Income5.6%142134123114107
Net Income Margin-1.2%0.53*0.54*0.54*0.56*-
Free Cahsflow2.4%227221206189-
* denotes actual numbers (not divided by Millions)
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q32022Q22022Q12021Q42021Q3
Assets0.2%2,4312,4262,1082,0852,102
    Cash Equivalents69.4%77454381127
Liabilities3.1%464450461473591
Shareholder's Equity-0.4%1,9671,9761,6471,6121,511
  Additional Paid-In Capital0.2%2,0612,0571,7181,6731,562
Shares Outstanding0.0%2828262624
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q32022Q22022Q12021Q42021Q3
Cashflow From Operations2.4%227221206189175
  Share Based Compensation16.6%15131197
Cashflow From Investing13.7%-452.35-523.91-452.15-384.09-639.30
Cashflow From Financing-7.9%177192169156430
  Dividend Payments-196----

Risks for IIPR

What is the probability of a big loss on IIPR?

70%


Probability that Innovative Industrial Properties stock will be more than 20% underwater in next one year

51.5%


Probability that Innovative Industrial Properties stock will be more than 30% underwater in next one year.

43.1%


Probability that Innovative Industrial Properties stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does IIPR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Innovative Industrial Properties was unfortunately bought at previous high price.

Drawdowns

Returns for IIPR

Cumulative Returns on IIPR

28.9%


5-Year Cumulative Returns

1.9%


3-Year Cumulative Returns

What are the long-term rolling returns for IIPR?

FIve years rolling returns for Innovative Industrial Properties.

Annualized Returns

Which funds bought or sold IIPR recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-01-26
Johnson Midwest Financial, LLC
added
6.67
1,000
2,000
0.01%
2023-01-26
CENTRAL TRUST Co
added
4,545.45
50,790
51,790
-%
2023-01-26
Winch Advisory Services, LLC
added
1.92
-
5,000
-%
2023-01-26
Sumitomo Mitsui DS Asset Management Company, Ltd
unchanged
-
49,360
387,360
0.01%
2023-01-26
COMERICA BANK
reduced
-9.68
318,000
4,225,000
0.03%
2023-01-26
DUPONT CAPITAL MANAGEMENT CORP
reduced
-36.54
-208,690
556,310
0.03%
2023-01-26
OREGON PUBLIC EMPLOYEES RETIREMENT FUND
added
0.12
120,366
943,366
0.01%
2023-01-26
Accel Wealth Management
unchanged
-
669
12,669
0.01%
2023-01-26
STRS OHIO
added
322.43
2,207,000
2,782,000
0.01%
2023-01-25
FIFTH THIRD BANCORP
added
105.56
6,250
11,250
-%

1–10 of 50

Latest Funds Activity

Are funds buying IIPR calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own IIPR
No. of Funds

Innovative Industrial Properties News

MarketBeat

Innovative Industrial Properties, Inc. (NYSE:IIPR) Shares Sold by ....

MarketBeat,
4 hours ago

InvestorsObserver

Schedule 13G FIlings of Innovative Industrial Properties

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Jan 26, 2023
blackrock inc.
17.6%
4,929,725
SC 13G/A
Jan 20, 2023
blackrock inc.
17.6%
4,929,725
SC 13G/A
Feb 11, 2022
state street corp
5.34%
1,278,642
SC 13G
Jan 27, 2022
blackrock inc.
17.9%
4,292,781
SC 13G/A
Jan 26, 2022
blackrock inc.
17.9%
4,292,781
SC 13G/A
Feb 10, 2021
vanguard group inc
15.27%
3,386,069
SC 13G/A
Jan 25, 2021
blackrock inc.
17.2%
3,806,926
SC 13G
Feb 14, 2020
timessquare capital management, llc
4.7%
559,825
SC 13G/A
Feb 12, 2020
vanguard group inc
11.06%
1,312,201
SC 13G/A
Feb 04, 2020
blackrock inc.
15.5%
1,961,264
SC 13G/A

IIPR Fair Value

Recent SEC filings of Innovative Industrial Properties

View All Filings
Date Filed Form Type Document
Jan 26, 2023
SC 13G/A
Major Ownership Report
Jan 25, 2023
5
Insider Trading
Jan 23, 2023
424B5
Prospectus Filed
Jan 23, 2023
8-K
Current Report
Jan 20, 2023
4
Insider Trading
Jan 20, 2023
4
Insider Trading
Jan 20, 2023
4
Insider Trading
Jan 20, 2023
4
Insider Trading
Jan 20, 2023
4
Insider Trading
Jan 20, 2023
SC 13G/A
Major Ownership Report

Latest Insider Trading transactions for IIPR

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-04-12
Curran Mary A
acquired
4,212.19
187.91
22.416
-
2023-01-18
Smithers Paul E.
acquired
-
-
22,548
president, ceo and director
2023-01-18
Bui Andy
acquired
-
-
1,806
vp, chief accounting officer
2023-01-12
Curran Mary A
acquired
3,585.92
219.47
16.339
-
2023-01-01
Wolfe Brian J.
sold (taxes)
-165,809
101.35
-1,636
vp, gen. counsel and secretary
2023-01-01
Bui Andy
sold (taxes)
-63,951.9
101.35
-631
vp, chief accounting officer
2023-01-01
Smithers Paul E.
sold (taxes)
-144,728
101.35
-1,428
president, ceo and director
2022-08-12
Gold Alan D
bought
97,792.5
97.7925
1,000
executive chairman
2022-08-10
Gold Alan D
bought
94,219.9
94.2199
1,000
executive chairman
2022-05-18
Kreitzer Gary A
acquired
-
-
1,562
-

1–10 of 50

Paul E. Smithers
20
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.

IIPR Income Statement

2022-09-30
Condensed Consolidated Statements of Income - USD ($)
3 Months Ended9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:    
Rental (including tenant reimbursements)$ 70,345,000$ 53,856,000$ 204,454,000$ 145,608,000
Other538,000 1,444,000 
Total revenues70,883,00053,856,000205,898,000145,608,000
Expenses:    
Property expenses2,823,0001,365,0007,232,0002,617,000
General and administrative expense10,804,0005,307,00028,288,00016,511,000
Depreciation and amortization expense15,900,00010,891,00045,001,00029,571,000
Total expenses29,527,00017,563,00080,521,00048,699,000
Income from operations41,356,00036,293,000125,377,00096,909,000
Interest and other income773,000110,0001,411,000325,000
Interest expense(4,513,000)(6,309,000)(13,783,000)(11,874,000)
Loss on exchange of Exchangeable Senior Notes  (125,000) 
Net income37,616,00030,094,000112,880,00085,360,000
Preferred stock dividends(338,000)(338,000)(1,014,000)(1,014,000)
Net income attributable to common stockholders$ 37,278,000$ 29,756,000$ 111,866,000$ 84,346,000
Net income attributable to common stockholders per share (Note 8):    
Basic$ 1.33$ 1.24$ 4.10$ 3.51
Diluted$ 1.32$ 1.20$ 4.06$ 3.41
Weighted-average shares outstanding:    
Basic27,938,56823,890,53727,144,95323,889,903
Diluted28,157,93426,260,70427,496,15126,257,504

IIPR Balance Sheet

2022-09-30
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Real estate, at cost:  
Land$ 140,187$ 122,386
Buildings and improvements1,261,651979,417
Tenant improvements712,983620,301
Construction in progress60,546 
Total real estate, at cost2,175,3671,722,104
Less accumulated depreciation(124,786)(81,938)
Net real estate held for investment2,050,5811,640,166
Construction loan receivable17,69812,916
Cash and cash equivalents76,94381,096
Restricted cash1,5805,323
Investments239,674324,889
Right of use office lease asset1,8311,068
In-place lease intangible assets, net9,3209,148
Other assets, net33,1079,996
Total assets2,430,7342,084,602
Liabilities and stockholders' equity  
Exchangeable Senior Notes, net6,36932,232
Notes due 2026, net294,794293,860
Tenant improvements and construction funding payable35,19546,274
Accounts payable and accrued expenses13,1407,718
Dividends payable50,84138,847
Rent received in advance and tenant security deposits61,48852,805
Other liabilities1,9921,167
Total liabilities463,819472,903
Commitments and contingencies (Notes 6 and 11)
Stockholders' equity:  
Preferred stock, par value $0.001 per share, 50,000,000 shares authorized: 9.00% Series A cumulative redeemable preferred stock, $15,000 liquidation preference ($25.00 per share), 600,000 shares issued and outstanding at September 30, 2022 and December 31, 202114,00914,009
Common stock, par value $0.001 per share, 50,000,000 shares authorized: 27,973,694 and 25,612,541 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively2826
Additional paid-in capital2,060,9361,672,882
Dividends in excess of earnings(108,058)(75,218)
Total stockholders' equity1,966,9151,611,699
Total liabilities and stockholders' equity$ 2,430,734$ 2,084,602