Market Cap
$1.5B
IIPR
INNOVATIVE INDUSTRIAL PROPERTIES INC
$50.52 ▼ -0.94%
Prev close $51.00Market cap$1.5B
ConsensusStrong Sell
12-mo target$64.50 (+27.7%)
▼ Bearish
Analyst conviction 1/10
25 New Institutional Positions8 Institutional Exits Real Estate
Snapshot
The big-picture read on IIPR right now — valuation, ownership and activity at a glance.
Cap Size
Small Cap
Analyst Consensus
Sell (9%)
Inst. Holders
50 funds
Inst. Value
$1.2B
Inst. Activity
25 buys / 8 sells
Insider Activity
$29.9K buy / $34.4K sell
Insider Net $
-$4.5K
Social Sentiment
67° Warm
SEC Reports
10
Price chart 30d -11.1%
Daily candles (open–high–low–close) with volume. Green = up day, red = down day.
No data for this timeframe.
Vol
Recent activity
The latest filings, insider trades, analyst actions, press and options flow — newest first.
Sep 30, 2026 short_volume
Short Volume: IIPR — 83.3% short (0.6M / 0.8M)
Short: 644,456 | Exempt: 389 | TRF Vol: 773,405 | Short Ratio: 83.3% | Off-exchange volume (dark poo
Sep 15, 2026 Insider
Shoemaker Scott sold 611 shares
Director @ $56.36 ($34.4K)
Aug 31, 2026 Insider
Jul 21, 2026 SEC Ives Bruce Alan bought 528 shares
Director @ $56.70 ($29.9K)
IIPR disclosed that tenant Parallel defaulted on ~$1.6M in July rent across two Florida properties (5.2% of annualized r
8-K — Impact 6/10
Jun 30, 2026 Inst.
GOLDMAN SACHS GROUP INC — TRIM
362,727 shares ($22.5M)
Jun 30, 2026 Inst.
MORGAN STANLEY — ADD
262,195 shares ($16.3M)
Jun 19, 2026 Insider
Jun 15, 2026 SEC Smith David Jon was granted 9,219 shares
CFO AND TREASURER
IIPR's operating partnership issued $402.5M of 6% exchangeable senior notes due 2029, using $80.5M of proceeds to repurc
8-K — Impact 6/10
Analyst ratings buy % +0.0%
How Wall Street rates the stock today, and the latest firm-by-firm actions.
9% rate it Buy or better · 11 analysts
Recent analyst actions
| Date | Firm | Action | Rating | Firm rating |
|---|---|---|---|---|
| Jul 21, 2026 | Piper Sandler | MAINTAIN | Underweight | 54% |
Monthly consensus history
| Period | Str. Buy | Buy | Hold | Sell | Str. Sell | Buy % | Distribution |
|---|---|---|---|---|---|---|---|
| Sep 1, 2026 | 0 | 1 | 6 | 2 | 2 | 9% | |
| Aug 1, 2026 | 0 | 1 | 6 | 2 | 2 | 9% | |
| Jul 1, 2026 | 0 | 1 | 6 | 2 | 2 | 9% | |
| Jun 1, 2026 | 0 | 1 | 6 | 2 | 2 | 9% | |
| May 1, 2026 | 0 | 1 | 6 | 2 | 2 | 9% | |
| Apr 1, 2026 | 0 | 1 | 6 | 2 | 2 | 9% | |
| Mar 1, 2026 | 0 | 1 | 5 | 2 | 3 | 9% | |
| Feb 1, 2026 | 0 | 1 | 5 | 2 | 3 | 9% |
Price targets
Where 4 covering analysts think IIPR trades over the next 12 months.
$64.50 +27.7% upside Strong Buy
Current$50.52 Low$51.00 Median$58.50 High$90.00 4 analysts
$51.00$90.00
Analyst rating None as of Oct 2, 2026
Social media sentiment mood +0.0%
Retail-investor mood aggregated across social media. 0° = very bearish, 100° = very bullish.
67°
Warm
BearishNeutralBullish
Recent posts
Reports & filings
AI-scored summaries of recent SEC filings and press releases, with sentiment and impact.
10 SEC filing reports analyzed · 0 bullish, 2 bearish, 2 mixed, 6 neutral · avg impact 4.6/10.
BEARISH8-K6/10
IIPR disclosed that tenant Parallel defaulted on ~$1.6M in July rent across two Florida properties (
Jul 21, 2026
MIXED8-K6/10
IIPR's operating partnership issued $402.5M of 6% exchangeable senior notes due 2029, using $80.5M o
Jun 15, 2026
MIXED8-K6/10
IIPR's operating partnership upsized a private offering of $402.5M in 6.0% exchangeable senior notes
Jun 11, 2026
NEUTRAL8-K3/10
Innovative Industrial Properties held its 2026 annual meeting on June 9, 2026, where shareholders ap
Jun 9, 2026
Upcoming & catalyst events
Scheduled dates plus disclosed catalysts — earnings, dividends, enforcement, FDA and clinical-trial events. Colored dot = impact.
Sep 30, 2026
short_volume
Short Volume: IIPR — 83.3% short (0.6M / 0.8M)
Short: 644,456 | Exempt: 389 | TRF Vol: 773,405 | Short Ratio: 83.3% | Off-exchange volume (dark pool + OTC)
Sep 29, 2026
short_volume
Short Volume: IIPR — 92.1% short (0.6M / 0.7M)
Short: 646,668 | Exempt: 0 | TRF Vol: 701,896 | Short Ratio: 92.1% | Off-exchange volume (dark pool + OTC)
Sep 9, 2026
ftd
FTD: IIPR — 9,189 shares ($0.5M) failed to deliver
Settlement: 20260909, Price: $57.21, FTD Value: $525,702.69, INNOVATIVE INDL PPTYS INC COMM
Sep 4, 2026
ftd
FTD: IIPR — 22,233 shares ($1.3M) failed to deliver
Settlement: 20260904, Price: $56.80, FTD Value: $1,262,834.4, INNOVATIVE INDL PPTYS INC COMM
Sep 3, 2026
ftd
FTD: IIPR — 10,583 shares ($0.6M) failed to deliver
Settlement: 20260903, Price: $56.83, FTD Value: $601,431.89, INNOVATIVE INDL PPTYS INC COMM
Earnings estimates
Forecast earnings per share and revenue by period — and whether estimates are rising.
| Period | EPS Est. | Range | Growth | 30d Rev | Up/Dn | Revenue | # |
|---|---|---|---|---|---|---|---|
| Current Q | $0.83 | $0.83–$0.83 | -14.4% | -24.2% | 0↑ 1↓ | $0.1B | 1 |
| Next Q | $0.88 | $0.88–$0.88 | -17.0% | -21.8% | 0↑ 1↓ | $0.1B | 1 |
| Current FY | $4.15 | $4.15–$4.15 | 5.6% | -3.0% | 0↑ 1↓ | $0.3B | 1 |
| Next FY | $4.39 | $4.39–$4.39 | 5.8% | -8.4% | — | $0.3B | 1 |
Current-quarter EPS estimate — revision history
| When | EPS estimate | Change vs now |
|---|---|---|
| Current | $0.830 | — |
| 7d ago | $0.830 | — |
| 30d ago | $1.095 | -0.265 |
| 60d ago | $1.095 | -0.265 |
| 90d ago | $1.095 | -0.265 |
Institutional ownership
Which big funds own IIPR (from quarterly 13F filings) and who is adding or trimming.
50 institutional holders with $1.2B total value (18,934,113 shares) as of 2026-Q2. Top holders: BlackRock,, VANGUARD, STATE. Net buying activity: 25 institutions added/increased vs 8 reduced.
Top holders — 2026-Q2
| Fund | Shares | Value | % Tracked | Last move |
|---|---|---|---|---|
| BlackRock, Inc. | 4,997,521 | $309.7M | 26.3% | — |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 2,818,950 | $174.7M | 14.8% | — |
| STATE STREET CORP | 1,628,896 | $104.0M | 8.8% | — |
| VANGUARD CAPITAL MANAGEMENT LLC | 1,292,586 | $80.1M | 6.8% | — |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 648,596 | $40.2M | 3.4% | — |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 564,305 | $35.0M | 3.0% | DOUBLED +3423.1% |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 524,194 | $32.5M | 2.8% | ADD +59.9% |
| Parallax Volatility Advisers, L.P. | 500,000 | $31.0M | 2.6% | — |
| Invesco Ltd. | 497,461 | $30.8M | 2.6% | — |
| NORTHERN TRUST CORP | 395,997 | $24.5M | 2.1% | — |
Recent position changes
| Fund | Action | Prev | Current | Change | Value |
|---|---|---|---|---|---|
| GOLDMAN SACHS GROUP INC | TRIM | 541,919 | 362,727 | -33.1% | $22.5M |
| MORGAN STANLEY | ADD | 207,274 | 262,195 | +26.5% | $16.3M |
| Nuveen, LLC | ADD | 65,878 | 91,732 | +39.2% | $5.7M |
| MML INVESTORS SERVICES, LLC | ADD | 38,943 | 64,195 | +64.8% | $4.0M |
| CAPITAL FUND MANAGEMENT S.A. | DOUBLED | 25,134 | 56,346 | +124.2% | $3.5M |
| Quantinno Capital Management LP | DOUBLED | 14,304 | 42,337 | +196.0% | $2.6M |
| CITADEL ADVISORS LLC | ADD | 20,704 | 41,272 | +99.3% | $2.6M |
| Aberdeen Group plc | DOUBLED | 9,636 | 34,310 | +256.1% | $2.1M |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | ADD | 19,431 | 27,816 | +43.2% | $1.7M |
| BNP PARIBAS FINANCIAL MARKETS | ADD | 12,796 | 25,230 | +97.2% | $1.6M |
Insider activity
Buying and selling by company executives and directors (SEC Form 4).
6 insiders, 9 transactions. Net -$4.5K — $29.9K bought, $34.4K sold.
| Date | Insider | Title | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 15, 2026 | Shoemaker Scott | Director | SELL | 611 | $56.36 | $34.4K |
| Aug 31, 2026 | Ives Bruce Alan | Director | BUY | 528 | $56.70 | $29.9K |
| Jun 19, 2026 | Smith David Jon | CFO AND TREASURER | AWARD | 9,219 | — | — |
| Jun 19, 2026 | Smithers Paul E. | PRESIDENT, CEO AND DIRECTOR | AWARD | 22,299 | — | — |
| Jun 19, 2026 | Gold Alan D | EXECUTIVE CHAIRMAN | AWARD | 33,960 | — | — |
| Jun 9, 2026 | Boyle David Gerard | Director | AWARD | 2,652 | — | — |
| Jun 9, 2026 | Shoemaker Scott | Director | AWARD | 2,652 | — | — |
| Jun 9, 2026 | Ives Bruce Alan | Director | AWARD | 2,652 | — | — |
| Jan 2, 2026 | Shoemaker Scott | Director | EXERCISE | 911 | — | — |
Short interest & halts
FINRA semi-monthly short positions, Reg SHO threshold status, and recent trading halts for IIPR.
Shares short
3,763,844
Settlement Sep 15, 2026
Change vs prior
+1.8%
Semi-monthly cycle
Days to cover
13.9
At avg daily volume
Of shares outstanding
≈13.7%
Estimate — not % of float
All IIPR filing & press-release reports (10)
- 8-K reportJul 21, 2026
- 8-K reportJun 15, 2026
- 8-K reportJun 11, 2026
- 8-K reportJun 9, 2026
- 424B5 reportMay 22, 2026
- 8-K reportMay 20, 2026
- 8-K reportMay 6, 2026
- 8-K reportMay 4, 2026
- 8-K reportApr 10, 2026
- 8-K reportMar 4, 2026