Innovative Industrial Properties (NYSE:IIPR) Price Target Raised to $46.00

Posted by Geri Gentry on Nov 7th, 2026

Innovative Industrial Properties (NYSE:IIPR – Free Report) had its target price increased by Piper Sandler from $44.00 to $46.00 in a report issued on Wednesday morning,Benzinga reports. Piper Sandler currently has an underweight rating on the stock.

A number of other research firms have also recently issued reports on IIPR. Stifel Nicolaus began coverage on Innovative Industrial Properties in a research report on Wednesday, October 14th. They issued a “buy” rating and a $56.25 price objective for the company. Huntington assumed coverage on Innovative Industrial Properties in a report on Friday, October 2nd. They set an “outperform” rating and a $60.00 target price on the stock. Finally, Weiss Ratings cut Innovative Industrial Properties from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $51.81.

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Innovative Industrial Properties Stock Performance

Shares of Innovative Industrial Properties stock traded down $0.57 during trading on Wednesday, hitting $54.73. 344,085 shares of the stock were exchanged, compared to its average volume of 327,792. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 12.35 and a beta of 1.33. The company has a fifty day moving average price of $54.26 and a 200-day moving average price of $55.16. Innovative Industrial Properties has a 1-year low of $44.58 and a 1-year high of $65.38. 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 earnings results on Monday, November 2nd. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.09. Innovative Industrial Properties had a net margin of 53.20% and a return on equity of 7.93%. The business had revenue of $64.92 million during the quarter, compared to the consensus estimate of $61.03 million. As a group, equities analysts predict that Innovative Industrial Properties will post 6.83 EPS for the current fiscal year.

Innovative Industrial Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $1.90 per share. The ex-dividend date was Wednesday, September 30th. This represents a $7.60 annualized dividend and a yield of 13.9%. Innovative Industrial Properties’s dividend payout ratio (DPR) is 171.56%.

Insiders Place Their Bets

In other news, Director Scott Shoemaker sold 611 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $56.36, for a total value of $34,435.96. Following the transaction, the director owned 2,000 shares of the company’s stock, valued at approximately $112,720. This represents a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce Ives bought 528 shares of the stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $56.70 per share, for a total transaction of $29,937.60. Following the purchase, the director owned 3,180 shares of the company’s stock, valued at $180,306. This trade represents a 19.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Innovative Industrial Properties

Several institutional investors have recently added to or reduced their stakes in the company. Nykredit A S bought a new position in Innovative Industrial Properties during the 2nd quarter worth $25,000. Jacobi Capital Management LLC bought a new stake in shares of Innovative Industrial Properties in the third quarter valued at about $25,000. Fortitude Family Office LLC bought a new stake in shares of Innovative Industrial Properties in the third quarter valued at about $26,000. Heritage Family Offices LLP acquired a new position in shares of Innovative Industrial Properties in the third quarter valued at about $28,000. Finally, Caitlin John LLC acquired a new position in shares of Innovative Industrial Properties in the second quarter valued at about $36,000. 70.58% of the stock is currently owned by institutional investors.

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 in the United States. The company acquires, owns and manages specialized industrial properties, including cultivation, processing and manufacturing facilities used by state-licensed cannabis operators.

Innovative Industrial Properties generally leases its properties to cannabis companies under long-term, typically triple-net lease agreements. Under these arrangements, tenants are generally responsible for property-level operating expenses, while the company provides real estate capital and manages its portfolio as a landlord.

Founded in 2016, Innovative Industrial Properties has expanded through property acquisitions, sale-leaseback transactions and investments in the development or redevelopment of cannabis facilities.