Touchstone
Last syncOct 31, 2026, 6:54 PM ET

IIPR

Innovative Industrial Properties Inc Real Estate Real Estate Russell 3000
$52.04Close $1.5BMarket cap $40.04 – $64.6752-week range Nov 2, 2026Next report · after the close

Highlights

Strengths

  • Earnings growing EPS +59% year on year, faster than the quarter before (+53 pts)

Cautions

  • Not in an uptrend 3 of 8 trend conditions
  • Lagging the market RS 46 · weaker than 54% of stocks over 12 months
  • Results soon Nov 2, 2026, in 1 day

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Aug 4, 2026
Off 12-month high 20%
1wk down 4.0% price change
1mo down 1.2% price change
12-month return up 16% market up 11% · its own up 6%
F-score — — Not assessed
Altman Z — Unknown
P/E 12.3× price / earnings
PEG — P/E / EPS growth
P/B 0.8× price / book
Earnings yield up 6.9% EBIT / enterprise value
Cheaper than — of the market · not assessed
Revenue growth down 14% year on year
EPS growth up 59% latest quarter · +53 pts
Sales growth up 1% latest quarter · +4 pts
ROE up 6% return on equity
Free cash margin up 75% $198.2M FCF
D/E 0.21 long-term debt / equity
Net debt / EBITDA 1.7×
Interest cover —EBIT / interest

Trade setup

ATR% 2.5% $1.30 a day · 2×ATR $49.44
RS 46 / 99 vs the universe
Trend 3 / 8 trend template
Relative volume 0.8× vs 50-day average
Up/down volume 0.77 50 sessions
Implied move — no option chain · report Nov 2, 2026
Trend template · 3 of 8
  • Price above the 150 and 200-day averages: fails
  • 150-day average above the 200-day: passes
  • 200-day average rising for a month: passes
  • 50-day average above the 150 and 200-day: fails
  • Price above the 50-day average: fails
  • At least 30% above the 52-week low: fails
  • Within 25% of the 52-week high: passes
  • RS rank 70 or higher: fails

Screen verdict

Did not qualify for any screen.

Warning signs

1 flagged
  • Revenue shrinking Revenue fell 13.8% over the year, from $308.5M to $266.0M.
Last reported Aug 3, 2026
Results reaction Aug 3, 2026-1% vs market2 sessions after results

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $266.0M -14% on FY2024
$0 $500M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $116.9M FY2021 · $204.6M FY2022 · $276.4M FY2023 · $309.5M FY2024 · $308.5M FY2025 · $266.0M
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $118.2M -27% on FY2024
$0 $200M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $65.7M FY2021 · $114.0M FY2022 · $154.4M FY2023 · $165.6M FY2024 · $161.7M FY2025 · $118.2M
Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology $198.2M -23% on FY2024
$0 $500M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $110.8M FY2021 · $188.7M FY2022 · $234.1M FY2023 · $255.5M FY2024 · $258.4M FY2025 · $198.2M
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Net 44%
  • Free cash 75%
0% 100% FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Net 56% · Free cash 95% FY2021 · Net 56% · Free cash 92% FY2022 · Net 56% · Free cash 85% FY2023 · Net 54% · Free cash 83% FY2024 · Net 52% · Free cash 84% FY2025 · Net 44% · Free cash 75%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $346.1M net debt
  • Cash
  • Long-term debt
$0 $500M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Cash $126.0M FY2021 · Cash $81.1M FY2022 · Cash $87.1M FY2023 · Cash $140.2M FY2024 · Cash $146.2M FY2025 · Cash $47.6M · Long-term debt $393.7M
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 28.02m +17.1% since FY2020
28.33m 23.94m FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · 23.94m FY2021 · 25.61m FY2022 · 27.97m FY2023 · 28.14m FY2024 · 28.33m FY2025 · 28.02m
  FY2020Dec 31, 2020 FY2021Dec 31, 2021 FY2022Dec 31, 2022 FY2023Dec 31, 2023 FY2024Dec 31, 2024 FY2025Dec 31, 2025
Revenue $116.9M $204.6M $276.4M $309.5M $308.5M $266.0M
Operating income $69.7M $135.4M $169.6M $174.6M $168.3M $124.1M
Net income $65.7M $114.0M $154.4M $165.6M $161.7M $118.2M
Net margin 56% 56% 56% 54% 52% 44%
Earnings per share $3.36 $4.34 $5.58 $5.86 $5.67 $4.17
Free cash flow $110.8M $188.7M $234.1M $255.5M $258.4M $198.2M
Free cash margin 95% 92% 85% 83% 84% 75%
Cash $126.0M $81.1M $87.1M $140.2M $146.2M $47.6M
Long-term debt — — — — — $393.7M
Shareholders' equity $1.5B $1.6B $2.0B $2.0B $1.9B $1.8B
Shares outstanding 23.94m 25.61m 27.97m 28.14m 28.33m 28.02m

Filings

SEC EDGAR
FiledReportPeriod to Lag
Aug 4, 2026 Quarterly ↗ Jun 30, 2026 35d
May 5, 2026 Quarterly ↗ Mar 31, 2026 35d
Feb 24, 2026 Annual ↗ Dec 31, 2025 55d
Nov 4, 2025 Quarterly ↗ Sep 30, 2025 35d
Aug 7, 2025 Quarterly ↗ Jun 30, 2025 38d
May 8, 2025 Quarterly ↗ Mar 31, 2025 38d
Feb 21, 2025 Annual ↗ Dec 31, 2024 52d
Nov 7, 2024 Quarterly ↗ Sep 30, 2024 38d
Aug 6, 2024 Quarterly ↗ Jun 30, 2024 37d
May 9, 2024 Quarterly ↗ Mar 31, 2024 39d
Feb 27, 2024 Annual ↗ Dec 31, 2023 58d
Nov 2, 2023 Quarterly ↗ Sep 30, 2023 33d

Current reports

FiledDisclosed
Oct 27, 2026 Material agreement · New obligation ↗
Oct 14, 2026 Material agreement · Holder rights changed · Charter or bylaws ↗
Oct 1, 2026 Material agreement · Regulation FD ↗
Sep 25, 2026 Charter or bylaws ↗
Sep 1, 2026 Other events ↗
Aug 3, 2026 Results · Regulation FD ↗
Jul 21, 2026 Other events ↗
Jun 15, 2026 Material agreement · New obligation · Unregistered share sale · Other events ↗
Jun 11, 2026 Regulation FD · Other events ↗
Jun 9, 2026 Director or officer change · Shareholder vote ↗
May 22, 2026 Material agreement · New obligation ↗
May 20, 2026 Material agreement · New obligation · Regulation FD ↗