# Innovative Industrial Properties, Inc. (IIPR): Dividend & Fundamentals

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- Sector: Real Estate · Industry: REIT - Industrial
- Exchange: NYSE · Trading currency: USD

Innovative Industrial Properties, Inc. is an independently managed, Maryland-based corporation primarily focused on acquiring, owning, and overseeing unique real estate assets. These properties are subsequently leased to experienced, state-licensed operators who utilize them for their regulated medical cannabis facilities. For tax purposes, the company adopted the structure of a Real Estate Investment Trust (REIT) starting from the end of 2017.

## Quote & Key Metrics

As of 2026-10-23:

| Metric | Value |
|---|---|
| Price | $54.21 USD |
| Market Cap | $1.49B |
| P/E (TTM) | 12.10 |
| EPS (TTM) | $4.48 |
| 52-Week Range | $44.58 – $65.38 |
| Dividend Yield (TTM) | 14.02% |

## Dividend

| Metric | Value |
|---|---|
| Yield (TTM) | 14.02% |
| Annual Dividend (TTM) | $7.60 /share |
| Annual Dividend (Forward) | $7.60 /share |
| Frequency | Quarterly |
| Consecutive Growth Streak | 8 years |
| Growth CAGR 1Y / 3Y / 5Y / 10Y | 0.0% / 1.8% / 4.8% / — |
| Payout Ratio (EPS, TTM) | 171.9% |
| Payout Ratio (FCF, TTM) | — |
| Payout Ratio (EPS, forward dividend) | 171.9% |
| Payout Ratio (FCF, forward dividend) | — |

### Recent Payments

| Ex-Date | Amount | Pay Date |
|---|---|---|
| 2026-09-30 | $1.9000 | 2026-10-15 |
| 2026-06-30 | $1.9000 | 2026-07-15 |
| 2026-03-31 | $1.9000 | 2026-04-15 |
| 2025-12-31 | $1.9000 | 2026-01-15 |
| 2025-09-30 | $1.9000 | 2025-10-15 |
| 2025-06-30 | $1.9000 | 2025-07-15 |
| 2025-03-31 | $1.9000 | 2025-04-15 |
| 2024-12-31 | $1.9000 | 2025-01-15 |
| 2024-09-30 | $1.9000 | 2024-10-15 |
| 2024-06-28 | $1.9000 | 2024-07-15 |
| 2024-03-27 | $1.8200 | 2024-04-15 |
| 2023-12-28 | $1.8200 | 2024-01-12 |

Full history: https://www.dividenddata.com/stocks/iipr/dividend

## Frequently Asked Questions

### What does Innovative Industrial Properties, Inc. do?

Innovative Industrial Properties, Inc. (IIPR) operates in the REIT - Industrial industry within the Real Estate sector. Full company description, peers, and segment breakdown are on the page above.

### What is IIPR's market cap?

Innovative Industrial Properties, Inc. (IIPR) has a market capitalization of approximately $1.49 billion, as of October 23, 2026, based on the most recent share price and shares outstanding.

### Does IIPR pay a dividend?

Yes, Innovative Industrial Properties, Inc. (IIPR) pays a dividend quarterly, with a trailing-twelve-month yield of 14.02%. Full distribution history, payout ratios, and growth rates are on the Dividend tab.

### How often does IIPR pay dividends?

Innovative Industrial Properties, Inc. pays dividends quarterly. The forward annual rate is $7.60 per share at the current declared cadence. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### What is IIPR's payout ratio?

Innovative Industrial Properties, Inc.'s payout ratio is the percentage of earnings (and free cash flow) returned to shareholders as dividends. Current EPS and FCF coverage are shown in the payout cards above, with green / amber / red coloring indicating sustainability.

### How are IIPR's dividends taxed?

Innovative Industrial Properties, Inc. (IIPR) is a real estate investment trust (REIT). REIT distributions are typically a mix of ordinary income, capital gains, and return of capital, and are reported on Form 1099-DIV. Consult a tax advisor for your specific situation. This is not tax advice.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/stocks/iipr
- Dividend history & safety: https://www.dividenddata.com/stocks/iipr/dividend
- Earnings & EPS: https://www.dividenddata.com/stocks/iipr/earnings
- Financial statements: https://www.dividenddata.com/stocks/iipr/financials/income
- Valuation multiples: https://www.dividenddata.com/stocks/iipr/valuation
- Peer comparison: https://www.dividenddata.com/stocks/iipr/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.