Innovative Industrial Properties, Inc.

Symbol: IIPR
Exchange: NYSE
Founded: 2016 (3 years)
HQ: San Diego, CA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Specialty
Internally Managed REIT

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See IIPR on SEC.gov

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Overall Score: 6.0

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REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day November 8, 2019


Open Price: $82.21
Closing Price: $85.22
Price Change: 5.39 (6.752%)
Lowest Price: $81.04
Highest Price: $86.57

52-Week Low: $42.10
52-Week High: $139.53
52-Week Change: 87.96%

5 Day Price Change: 5.68%
1 Month Price Change: -7.67%
3 Month Price Change: -23.24%
6 Month Price Change: -0.82%
YTD Price Change: 73.88%
1 Year Price Change: 76.07%
2 Year Price Change: 308.13%
5 Year Price Change: 316.87%

Dividend of Trading Day November 8, 2019


Dividend Yield: 3.661%*
Annualized Dividend: $3.12*
Dividend Yield (TTM): 2.558%
Annualized Dividend (TTM): $2.18
Ex Dividend Date: 2019-09-27
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Funds From Operations (FFO)


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Key Stats of Trading Day November 8, 2019


Total Cash: $133,493,000
Current Debt: N/A
Revenue: $14,787,000
Gross Profit: $11,713,000
Total Revenue: $14,787,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $7,967,000
Revenue Per Share: $1
Revenue Per Employee: $2,464,500
Employee: 6
Debt to Equity Ratio (D/E): N/A
Profit Margin: 0.46%
Enterprise Value (EV): $829,850,924
Enterprise Value to Revenue (EV/R): 56.12
Price to Sales (P/S): 65.15
Price to Book (P/B): 3.65
Peg Ratio: 0.36
P/E Ratio: 58.62
P/E High: 98.26
P/E Low: 29.65
Forward P/E Ratio: 46.32
Market Capitalization: $963,343,924
Beta: 1.17
Latest Volume: 532,875.00
Avg. Total Volume: 432,315
Avg. 10 Volume: 506,437.80
Avg. 30 Volume: 432,315.37
TTM EPS: 1.45
TTM Dividend Rate: 2.18
Shares Outstanding: 11,304,200
Float: 10,794,776.23
50-Day Moving Avg.: 83.73
200-Day Moving Avg.: 90.13

Latest REIT Community Comments on #IIPR


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Properties Owned by IIPR


Properties owned:
26
Types:
1
States:
12
Countries:
1
Please visit this REIT’s official webpage to learn more.

Occupancy Rate


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Dividend History


Below are the most recent cash dividends paid by IIPR, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Current Cash 99,917,000 47,432,000 59,224,000 13,050,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 208,828,000 138,731,000 197,729,000 120,443,000
Long-term Investments 0 0 0 0
Property, Plant & Equipment Net 0 0 0 0
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 10,422,000 11,601,000 2,304,000 614,000
Net Tangible Assets 449,783,000 266,188,000 268,376,000 264,292,000
Total Assets 623,150,000 430,721,000 420,408,000 281,466,000
Accounts Payable 0 0 0 0
Liabilities (Other) 39,209,000 30,865,000 18,836,000 17,174,000
Current Liabilities (Other) 9,204,000 6,223,000 4,750,000 3,759,000
Total Current Liabilities 0 0 0 0
Current Long-term Debt 0 0 0 0
Long-term Debt 134,158,000 133,668,000 133,196,000 0
Total Liabilities 173,367,000 164,533,000 152,032,000 17,174,000
Minority Interest 0 0 0 0
Common Stock 11,367,828 10,000 10,000 10,000
Retained Earnings -16,871,000 -14,187,000 -11,376,000 0
Treasury Stock 0 0 0 0
Capital Surplus 452,634,000 266,356,000 265,733,000 250,273,000
Shareholder Equity 449,783,000 266,188,000 268,376,000 264,292,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Total Revenue 11,555,000 8,617,000 6,823,000 4,783,000
Cost of Revenue 2,578,000 1,952,000 1,465,000 994,000
Gross Profit 8,977,000 6,665,000 5,358,000 3,789,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 4,734,000 4,545,000 3,383,000 2,976,000
Operating Income 6,821,000 4,072,000 3,440,000 1,807,000
Income Expense Net (Other) -301,000 -660,000 201,000 859,000
EBIT 6,821,000 4,072,000 3,440,000 1,807,000
Interest Income 1,838,000 1,832,000 792,000 0
Pretax Income 6,520,000 3,412,000 3,641,000 2,666,000
Income Tax 0 0 0 0
Minority Interest 0 0 0 0
Net Income 6,411,000 3,329,000 3,577,000 2,615,000
Net Income Basic 6,073,000 2,991,000 3,239,000 2,277,000

Cash Flow

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Amounts in USD ($)

Cash Flow 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Net Income 6,411,000 3,329,000 3,577,000 2,615,000
Depreciation 2,221,000 1,615,000 1,218,000 914,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 51,817,000 -1,770,000 46,174,000 -39,969,000
Cash Flow 10,469,000 8,459,000 6,158,000 6,142,000
Capital Expenditures -23,889,000 -13,046,000 -6,832,000 -11,173,000
Investments -114,551,000 6,802,000 -85,410,000 -146,134,000
Investing Activity (Other) 250,000 851,000 -1,601,000 0
Total Investing Cash Flows -138,190,000 -5,393,000 -93,843,000 -157,307,000
Dividends Paid -6,223,000 -4,750,000 -3,759,000 -2,713,000
Net Borrowings 0 -12,000 138,557,000 0
Cash Flow Financing 179,538,000 -4,836,000 133,859,000 111,196,000
Financing Cash Flows (Other) 0 0 -939,000 0
Exchange Rate Effect 0 0 0 0

About Innovative Industrial Properties, Inc.


Innovative Industrial Properties, Inc. is the pioneering real estate investment trust for the medical-use cannabis industry. Founded in December, 2016, we are the first publicly traded company on the New York Stock Exchange (NYSE: IIPR) to provide real estate capital to the medical-use cannabis industry. A real estate investment trust (REIT) is a corporation that combines the capital of many investors to acquire income producing real estate. As a public company traded on the NYSE, we are uniquely positioned in the industry to access public capital markets. As a REIT, one of our most attractive attributes is that we must distribute through a dividend to our stockholders at least 90 percent of our taxable income. Innovative Industrial Properties has paid consecutive quarterly dividends to our common stockholders since the second quarter of 2017.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
1 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.3
9 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 8.8
3 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 7.5
Rating AFFO & Efficiency Section Avg. Rating
10 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 8.7
8 AFFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.7
Rating Leverage Section Avg. Rating
10 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
9 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
10 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.8
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
Rating Properties Section Avg. Rating
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
10 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 7.9
6.0 Overall REITRating™ Score 6.7

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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