Innovative Industrial Properties Inc.
S&P 500IIPR/Real Estate · REIT - Industrial/NYSE
Dividend Yield
12.81%
$7.60 · Annual Dividend
Dividend Safety Rating
IIPR's dividend appears safe and well-supported. Strengths include a 7.3x interest coverage & 14.6% net debt / total assets. Areas of concern: 114.3% ffo payout ratio & 109.8% fcf payout ratio. The dividend has been growing at a 11.20% 5-year CAGR. As a REIT, its payout is measured against FFO (funds from operations) rather than net income, since large non-cash depreciation makes the earnings payout ratio misleading.
Based on 15 of 15 metrics
Strengths
- Debt-to-Equity: 19.3Conservative debt level relative to equity.
- Operating Margin: 49.8%Healthy operating margin provides a wide buffer.
- Gross Margin: 89.0%High gross margin signals strong pricing power.
Risks
- FFO Payout Ratio: 114.3%FFO leaves little margin to cover the dividend.
- FCF Payout Ratio: 109.8%Free cash flow is tight relative to the dividend.
- CFO Payout Ratio: 113.0%Operating cash flow leaves little room for the payout.
Payout & Coverage
WarningBalance Sheet
CautionProfitability
SafeDividend Track Record
Very SafeAbout Innovative Industrial Properties Inc.
Innovative Industrial Properties Inc. is a real estate investment trust (REIT) focusing on the acquisition, ownership, and management of specialized industrial properties. Its primary function is to support the regulated cannabis industry by leasing properties that are intended for the cultivation and processing of cannabis. Catering specifically to licensed operators, Innovative Industrial Properties Inc. aids in providing real estate solutions for businesses involved in the medical-use cannabis sector. This company plays a crucial role in the emerging cannabis market by enabling operators to access capital for operational purposes through sale-leaseback transactions. Given the increasing legalization of cannabis in the United States, the firm's position as a REIT targeting the cannabis industry places it at the forefront of a rapidly growing and evolving market. By combining real estate expertise with industry-specific knowledge, Innovative Industrial Properties Inc. contributes significantly to the infrastructure needed for the legal cannabis industry's expansion.
Dividend Overview
Dividend Yield
12.81%
Annual Dividend
$7.60
Frequency
Quarterly
Payout Ratio
193.88%
FCF Payout Ratio
109.82%
52-Week Range
$44.58 - $62.30
Dividend History (2016–2025)
IIPR annual dividend per share and yield history
Earnings & Profitability
IIPR earnings per share and net profit margin
Key Dates
Next Ex-Dividend Date
June 30, 2026
Next Payment Date
July 15, 2026
Dividend Growth
3-Year Dividend CAGR
2.29%
5-Year Dividend CAGR
11.20%
10-Year Dividend CAGR
N/A
3-Year Total Growth
7.04%
5-Year Total Growth
70.02%
10-Year Total Growth
N/A
Income Calculator
Frequently Asked Questions
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This page is not investment advice. The content is for informational purposes only and should not be construed as a recommendation to buy, sell, or hold any security. Always do your own research and consult a qualified financial advisor before making investment decisions.
Financial data, including dividend history, earnings, balance sheet metrics, and the Dividend Safety Rating, is provided for informational purposes only. Data may be delayed or differ from official filings. Past performance does not guarantee future results. Always verify with official sources before making investment decisions.
Market data provided by Twelve Data.