Innovative Industrial Properties, Inc. (IIPR)
NYSEReal EstateReit - IndustrialSnapshot 2026-11-04
NYSEReal EstateReit - IndustrialSnapshot 2026-11-04
Research Workspace
Put IIPR beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Real Estate is in steady. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Recent financial performance slipped notably this past month, though still top-half.
View ThesisRevenue is contracting — down about 4% over the past year.
View GrowthManagement screens strong on capital allocation, earnings delivery, the balance sheet, market reaction to earnings.
View ManagementExpectations look reasonable — what the market is pricing in sits in line with or below what analysts forecast.
View ValuationModerate volatility — typically moves about 1% a day.
View RiskIIPR's steady growth must continue to justify its price. Revenue grew 0.4% year over year last quarter. The company beat earnings estimates by 18.8%. It trades at 7.3 times funds from operations. Peers trade at a 12.5 times median. This multiple is a discount to peers. The price reflects less growth than we forecast. Recent financial performance slipped notably this past month. Our model puts the next-quarter miss near 24%. Peer multiples imply a price about 23% above where it trades. The thesis is on watch. This read is provisional.
Trailing returns as of 2026-11-04. IIPR is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 7 analysts currently covering IIPR (as of Nov 2026).
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
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Compare IIPR with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
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| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| IIPR Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 9 valuation methods, at three horizons. As of 2026-11-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Industrial REITs — fair value, gap to price, and forward P/E.
Compare the value case
Put IIPR next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Advances: Fortify balance sheet and manage capital allocation
Beating estimates confirms strong execution and financial health.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-11-04. EPS is implied from price ÷ P/E. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Top 25% on quality vs scored peers
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.

Advances: Fortify balance sheet and manage capital allocation
Earnings beat supports financial stability and capital allocation.

Advances: Maintain dividend per share
De-risking of yield supports dividend maintenance objective.
Advances: Engage in M&A activity
Stronger leasing indicates growth potential aligns with M&A.
Advances: Manage capital allocation
Repayment of notes improves capital allocation flexibility.