Innovative Industrial Properties (IIPR)

• Market cap: $1.58B
• 1 day: 3.25%
• 5 days: -14.06%
• 1 month: -20.15%
• 3 months: -17.63%
• 6 months: -57.85%
• Year to date: -17.63%
• 1 year: -44.64%
• 5 years: -19.12%
• 10 years: 191.64%
• Sector: Real Estate
• Industry: Real Estate

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

16% more repeat investments, than reductions

Existing positions increased: 119 | Existing positions reduced: 103

0.9% more ownership

Funds ownership: 69.79% [Q3] → 70.69% (+0.9%) [Q4]

5% less call options, than puts

Call options by funds: $26.3M | Put options by funds: $27.6M

15% less funds holding

Funds holding: 411 [Q3] → 350 (-61) [Q4]

47% less first-time investments, than exits

New positions opened: 59 | Existing positions closed: 111

50% less capital invested

Capital invested by funds: $2.66B [Q3] → $1.34B (-$1.33B) [Q4]

100% less funds holding in top 10

Funds holding in top 10: 1 [Q3] → 0 (-1) [Q4]

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $50 10% downside
• Avg. target: $78 40% upside
• High target: $130 133% upside

3 analyst ratings

• positive: 1 33%
• neutral: 0 0%
• negative: 2 67%

Compass Point Merrill Ross 60% 1-year accuracy 6 / 10 met price target	10% downside $50	Sell Downgraded	31 Mar 2025
Piper Sandler Alexander Goldfarb 38% 1-year accuracy 15 / 39 met price target	2% downside $55	Underweight Maintained	31 Mar 2025
Roth MKM Scott Fortune 13% 1-year accuracy 2 / 15 met price target	133% upside $130	Buy Maintained	21 Feb 2025