Innovative Industrial Properties, Inc. (IIPR) to Distribute Quarterly Dividend of $1.90 on October 15th

Posted by Francis Steltz on Sep 17th, 2026

Innovative Industrial Properties, Inc. (NYSE:IIPR – Get Free Report) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of 1.90 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend is Wednesday, September 30th.

Innovative Industrial Properties has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Innovative Industrial Properties has a payout ratio of 176.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Innovative Industrial Properties to earn $7.69 per share next year, which means the company should continue to be able to cover its $7.60 annual dividend with an expected future payout ratio of 98.8%.

Innovative Industrial Properties Stock Performance

Shares of IIPR opened at $55.94 on Thursday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 12.68 and a beta of 1.35. Innovative Industrial Properties has a 12 month low of $44.58 and a 12 month high of $65.38. The firm has a fifty day simple moving average of $58.89 and a 200 day simple moving average of $56.92. The company has a current ratio of 24.51, a quick ratio of 24.51 and a debt-to-equity ratio of 0.35.

Innovative Industrial Properties (NYSE:IIPR – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.02 by $0.34. The firm had revenue of $63.31 million for the quarter, compared to analysts’ expectations of $67.09 million. Innovative Industrial Properties had a net margin of 52.27% and a return on equity of 7.73%. Research analysts forecast that Innovative Industrial Properties will post 7.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler boosted their price target on Innovative Industrial Properties from $45.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Innovative Industrial Properties from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Innovative Industrial Properties presently has an average rating of “Reduce” and an average target price of $48.00.

Read Our Latest Report on Innovative Industrial Properties

About Innovative Industrial Properties

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Innovative Industrial Properties, Inc (NYSE: IIPR) is a real estate investment trust focused on the regulated cannabis industry. The company acquires, owns and manages specialized industrial properties that are used for cannabis cultivation and processing.

IIPR generally leases its properties to state-licensed cannabis operators through long-term, often triple-net lease agreements. Under these arrangements, tenants typically remain responsible for property-level expenses such as maintenance, insurance and taxes.