INNOVATIVE INDUSTRIAL PROPERTIES INC(IIPR)Stock Analysis
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Rank #1,110 of 2,879 stocksTOP 50%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
IIPR Stock Analysis & AI Quality Score
AI stock analysis and institutional research for INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR), a Real Estate sector company. 13F Pro's AI-powered ranking engine scores IIPR at 56.3/100 on a 32-signal composite quality model, placing it at rank #1,110 of 2,879 stocks — the top half of the AI-ranked universe. IIPR scores in the top quartile across free cash flow (96.0), profitability (93.1). Areas of concern include revenue growth (16.5) and earnings quality (23.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 29.8/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), INNOVATIVE INDUSTRIAL PROPERTIES INC reports quarterly revenue of $69.0M, net income of $32.8M, an operating margin of 47.7%. Top institutional holders of IIPR by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. IIPR trades on the NYSE exchange and files with the SEC under CIK 1677576. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate IIPR daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for INNOVATIVE INDUSTRIAL PROPERTIES INC directly from SEC EDGAR. INNOVATIVE INDUSTRIAL PROPERTIES INC's 13F Pro composite quality score has ranged between 56 and 76 since 2021, currently 56.3 — a declining long-term trajectory across 28 quarterly and live scoring snapshots.
Revenue
Q1 2026
$69.0M
Net Income
Q1 2026
$32.8M
Free Cash Flow
Q1 2026
$56.0M
Operating Margin
Q1 2026
47.7%
ROIC
Q1 2026
1.7%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
-13.8% YoYNet Income
-26.9% YoYOperating Income
-26.3% YoYEPS (Diluted)
-28.8% YoYTotal Assets
-0.3% YoYTotal Debt
Op. Cash Flow
-23.3% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $266.0M -13.8% | $308.5M -0.3% | $309.5M +12.0% | $276.4M +35.1% | $204.6M +357.9% | $44.7M |
| Net Income | $118.2M -26.9% | $161.7M -2.4% | $165.6M +7.3% | $154.4M +35.4% | $114.0M +385.6% | $23.5M |
| Operating Income | $124.1M -26.3% | $168.3M -3.6% | $174.6M +2.9% | $169.6M +25.3% | $135.4M +442.9% | $24.9M |
| EPS (Diluted) | $3.93 -28.8% | $5.52 -4.3% | $5.77 +4.5% | $5.52 +21.3% | $4.55 +124.1% | $2.03 |
| Total Assets | $2.37B -0.3% | $2.38B -0.5% | $2.39B -1.0% | $2.41B +15.8% | $2.08B +179.5% | $745.9M |
| Total Debt | $393.7M | — | — | — | — | $134.7M |
| Operating Cash Flow | $198.2M -23.3% | $258.4M +1.1% | $255.5M +9.1% | $234.1M +24.0% | $188.7M +320.1% | $44.9M |
AI Insight: IIPR Financial Trends
IIPR's revenue declined 14% from Q2 2024 to Q1 2026 amid compressed operating margins and shrinking equity base.
• Revenue fell from $80M in Q2 2024 to $69M in Q1 2026, representing a 14% decline over eight quarters.
• Operating margin compressed from 52.5% in Q2 2024 to 47.8% in Q1 2026 as operating income dropped faster than revenue.
• Equity declined from $1,947M in Q2 2024 to $1,895M in Q1 2026, marking consistent erosion of shareholder value.
⚠ New debt of $394M appeared in Q4 2025, the first leverage on the balance sheet in the data series.
⚠ Operating cash flow showed signs of stabilization, rising from $46M in Q3 2025 to $56M in Q1 2026.
AI Insight: IIPR Ratio Trends
IIPR's profitability metrics have deteriorated significantly, with operating margins falling from 54.8% in Q3 2024 to 47.7% in Q1 2026 and ROIC declining from 8.7% to 7.0% over the same period.
• Operating margin compressed from 54.8% in Q3 2024 to 47.7% in Q1 2026, a decline of over 700 basis points.
• ROE dropped from 8.6% in Q2 2024 to 6.9% in Q1 2026, reflecting weakening shareholder returns.
• ROIC fell from peak of 8.7% in Q2 2024 to 7.0% in Q1 2026, indicating declining capital efficiency.
⚠ ROIC hit a low of 5.7% in Q4 2025 before recovering to 7.0% in Q1 2026, suggesting potential stabilization.
⚠ Debt-to-equity ratio of 0.21 appeared in Q4 2025, marking first leverage use in the dataset.
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Available Research
13F Pro tracks comprehensive data for INNOVATIVE INDUSTRIAL PROPERTIES INC including:
Top Institutional Holders of IIPR
BlackRock, Inc.
$239.8M4,781,589 shVANGUARD PORTFOLIO MANAGEMENT LLC
$136.9M2,728,989 shSTATE STREET CORP
$82.6M1,586,674 shVANGUARD CAPITAL MANAGEMENT LLC
$62.3M1,242,162 shCHARLES SCHWAB INVESTMENT MANAGEMENT INC
$28.8M573,633 shGOLDMAN SACHS GROUP INC
$27.2M541,919 shARROWSTREET CAPITAL, LIMITED PARTNERSHIP
$27.1M539,600 shMIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
$25.9M516,111 shParallax Volatility Advisers, L.P.
$25.1M500,000 shInvesco Ltd.
$24.9M496,077 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $239.8M | 4,781,589 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $136.9M | 2,728,989 |
| STATE STREET CORP | $82.6M | 1,586,674 |
| VANGUARD CAPITAL MANAGEMENT LLC | $62.3M | 1,242,162 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $28.8M | 573,633 |
| GOLDMAN SACHS GROUP INC | $27.2M | 541,919 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $27.1M | 539,600 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $25.9M | 516,111 |
| Parallax Volatility Advisers, L.P. | $25.1M | 500,000 |
| Invesco Ltd. | $24.9M | 496,077 |
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Popular Research
Is IIPR a good stock to buy?
13F Pro's AI-powered analysis of INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Real Estate sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for IIPR are available on the IIPR stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own IIPR?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling IIPR. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of INNOVATIVE INDUSTRIAL PROPERTIES INC's investment landscape.