INNOVATIVE INDUSTRIAL PROPERTIES INC
About INNOVATIVE INDUSTRIAL PROPERTIES INC
Innovative Industrial Properties Inc is a real estate investment trust focused on the acquisition, ownership and management of specialized industrial and commercial properties in the United States. Its properties are prominently leased to state-licensed operators for their regulated cannabis facilities. The company conducts its business through a traditional umbrella partnership real estate investment trust, or UPREIT structure, in which properties are owned by its Operating Partnership, directly or through subsidiaries. Its segments are: Cannabis Portfolio and Life Science Portfolio, with the majority of revenue coming from the Cannabis Portfolio segment, which involves acquiring, developing, and leasing real estate to regulated cannabis operators on long-term triple-net leases.
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Financial summary
- Revenue FY2025
- $266.0M
- Net income
- $118.2M
- Total assets
- $2.4B
- Market cap
- $1.7B
- Operating margin
- 54.6%
- Net margin
- 52.4%
Source: SEC EDGAR · updated Jun 8, 2026
Revenue & profit trend
Financial statements
Income statement
- Revenue
- $308.5M
- Operating expenses
- $136.7M
- Operating income
- $168.3M
- Net income
- $161.7M
- EPS (basic)
- $5.58
- EPS (diluted)
- $5.52
Balance sheet
- Total assets
- $2.4B
- Current assets
- $2.4B
- Total liabilities
- $442.0M
- Current liabilities
- $442.0M
- Shareholders’ equity
- $1.9B
Cash flow
- Operating cash flow
- $258.4M
- Investing cash flow
- -$56.0M
- Financing cash flow
- -$197.9M
- Net cash flow
- $4.5M
Statements via Polygon.io (SEC filings)
15-minute delayed · data by Polygon.io
Past year
52-week range
- Market cap
- $1.7B
- P/E ratio
- 10.7
- EPS (diluted)
- $5.52
- Dividend yield
- 12.84%
- Shares outstanding
- 28.5M
- Open
- —
- Day range
- –
- Prev close
- —
- Volume
- —
- IPO date
- Dec 1, 2016
Market data by Polygon.io · prices are 15-minute delayed
At a glance
- Profitable — net income of $118.2M in FY2025.
- Revenue grew 164% from FY2020 to FY2024.
- Trading near its 52-week high.
- Pays a dividend yielding about 12.84% annually.
- Valued at a price-to-earnings (P/E) ratio of 10.7.
Automatically generated from public filings and market data. Informational only — not investment advice or a recommendation to buy or sell any security.
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