IIPR
Innovative Industrial Properties, Inc.Real Estate · $1.6B market cap
Verdict
Share price
$50.52
close of Oct 3, 2026
Fair value
$42.20
Sticker Price
Payback Price
$16.88
buy price
IIPR is Overpriced: at $50.52 it trades 20% above its fair value of $42.20. Its buy price (Payback Price) is $16.88, 67% below today's price. Business quality is mixed: 2 of 5 key numbers clear the 10% bar.
How we valued it
FFO-Based (REIT). A real estate trust. Depreciation makes a property owner's profit look smaller than the cash it brings in, so we value it on funds from operations (FFO).
Business quality
2 of 5 clear the 10% bar. What are the Big Five?
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Since Jun 19, 2026: 1 open-market purchase worth $30K and 3 other filings (stock awards, tax withholding and similar). Why purchases matter
Purchases
Other filings
About Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. is an independently managed, Maryland-based corporation primarily focused on acquiring, owning, and overseeing unique real estate assets. These properties are subsequently leased to experienced, state-licensed operators who utilize them for their regulated medical cannabis facilities. For tax purposes, the company adopted the structure of a Real Estate Investment Trust (REIT)…
REIT - Industrial
Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works