Innovative Industrial Properties (IIPR)

• Market cap: $1.93B
• 1 day: 1.75%
• 5 days: 8.28%
• 1 month: -32.74%
• 3 months: -48.60%
• 6 months: -43.32%
• Year to date: 0.46%
• 1 year: -25.81%
• 5 years: -17.44%
• 10 years: 255.67%
• Sector: Real Estate
• Industry: Real Estate

About: Innovative Industrial Properties Inc is a real estate investment trust engaged in the acquisition, ownership, and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. It conducts its business through a traditional umbrella partnership real estate investment trust, or UPREIT structure, in which properties are owned by Operating Partnership, directly or through subsidiaries. Its property portfolio is spread across the United States.

Employees: 22

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

71% more first-time investments, than exits

New positions opened: 58 | Existing positions closed: 34

53% more call options, than puts

Call options by funds: $67M | Put options by funds: $43.8M

20% more capital invested

Capital invested by funds: $2.21B [Q2] → $2.66B (+$450M) [Q3]

5% more funds holding

Funds holding: 388 [Q2] → 408 (+20) [Q3]

5% more repeat investments, than reductions

Existing positions increased: 141 | Existing positions reduced: 134

1.65% less ownership

Funds ownership: 71.4% [Q2] → 69.76% (-1.65%) [Q3]

50% less funds holding in top 10

Funds holding in top 10: 2 [Q2] → 1 (-1) [Q3]

Research analyst outlook

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

• Low target: $78 15% upside
• Avg. target: $109 60% upside
• High target: $130 91% upside

3 analyst ratings

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

Compass Point Merrill Ross 17% 1-year accuracy 2 / 12 met price target	15% upside $78	Neutral Downgraded	20 Dec 2024
Alliance Global Partners Aaron Grey 40% 1-year accuracy 2 / 5 met price target	91% upside $130	Buy Initiated	17 Dec 2024
Piper Sandler Alexander Goldfarb 49% 1-year accuracy 20 / 41 met price target	73% upside $118	Neutral Maintained	8 Nov 2024