Piper Sandler Issues Positive Forecast for Innovative Industrial Properties (NYSE:IIPR) Stock Price

Innovative Industrial Properties (NYSE:IIPR) had its price target hoisted by Piper Sandler from $44.00 to $45.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an underweight rating on the stock.

Separately, Weiss Ratings downgraded Innovative Industrial Properties from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, January 28th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Innovative Industrial Properties currently has an average rating of “Strong Sell” and an average target price of $53.00.

Innovative Industrial Properties Trading Up 3.0%

IIPR stock opened at $52.64 on Wednesday. Innovative Industrial Properties has a twelve month low of $44.58 and a twelve month high of $74.92. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 13.43 and a beta of 1.47. The company has a quick ratio of 2.75, a current ratio of 4.38 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $49.16 and its two-hundred day simple moving average is $51.77.

Innovative Industrial Properties (NYSE:IIPR) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.17. Innovative Industrial Properties had a net margin of 44.46% and a return on equity of 6.43%. The firm had revenue of $66.66 million during the quarter, compared to analysts’ expectations of $66.16 million. During the same period in the previous year, the company earned $2.03 EPS. The firm’s revenue for the quarter was down 13.1% compared to the same quarter last year. As a group, analysts anticipate that Innovative Industrial Properties will post 8.28 earnings per share for the current year.

Innovative Industrial Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $1.90 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 14.4%. Innovative Industrial Properties’s payout ratio is presently 180.09%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. West Oak Capital LLC purchased a new stake in shares of Innovative Industrial Properties in the 3rd quarter worth $27,000. International Assets Investment Management LLC bought a new stake in shares of Innovative Industrial Properties in the fourth quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new stake in Innovative Industrial Properties in the third quarter worth about $32,000. Advisory Services Network LLC bought a new position in Innovative Industrial Properties during the 3rd quarter worth about $34,000. Finally, Los Angeles Capital Management LLC purchased a new position in Innovative Industrial Properties during the 4th quarter valued at about $35,000. 70.58% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Innovative Industrial Properties

Here are the key news stories impacting Innovative Industrial Properties this week:

• Positive Sentiment: Q4 results beat expectations — FFO of $1.88/share topped consensus and revenue beat modestly; the print and management commentary are the primary near‑term catalysts supporting the stock’s upside. IIPR Earnings Beat Highlights Diversification Push And Liquidity Support
• Positive Sentiment: Portfolio and liquidity moves: IIPR signed ~337k sq ft of new leases, invested in IQHQ to add life‑sciences exposure, and secured a $100M revolving facility — measures that support near‑term cash flow stability and optionality. Innovative Industrial Properties Inc (IIPR) Q4 2025 Earnings Call Highlights
• Neutral Sentiment: Contrarian/long view argues IIPR is a high‑yield recovery story (author cites a 16.4% yield and large upside case) but also flags elevated payout and balance‑sheet risks — useful for investors weighing risk/reward over a multi‑quarter horizon. Innovative Industrial Properties Left Behind In Market Rotation – Contrarian Dividend/Recovery Story
• Neutral Sentiment: Middling longer‑term performance and a material one‑year decline have prompted fresh reappraisal pieces that frame IIPR as either an opportunistic value play or a potential value trap — expect continued debate until payout and leasing trends stabilize. Is It Time To Reassess Innovative Industrial Properties (IIPR) After A 28% One-Year Share Price Drop
• Negative Sentiment: Analyst stance remains cautious: Piper Sandler nudged its price target from $44 to $45 but kept an “underweight” rating — a signal that some sell‑side participants see downside versus current levels. Benzinga Coverage of Piper Sandler Note
• Negative Sentiment: Dividend sustainability concerns persist — several analysts/commentators say a dividend cut is likely given an elevated AFFO payout ratio, weakening FFO vs. last year and balance‑sheet pressures; this risk is why some investors remain cautious despite the recent beat. Innovative Industrial Properties: A Dividend Cut Is Likely. Here’s Where The Smart Money Goes

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators in the regulated U.S. cannabis industry. The company’s portfolio includes greenhouse facilities, indoor cultivation sites, processing and distribution centers, and other purpose-built properties designed to meet stringent regulatory and operational requirements. By structuring long-term net leases, Innovative Industrial Properties provides its tenants with capital to expand and modernize their operations while maintaining stable, predictable rental income streams.

Founded in 2016 and headquartered in San Diego, California, Innovative Industrial Properties was the first publicly traded REIT in the medical-cannabis sector.