Innovative Industrial Properties, Inc. (IIPR)

From the record

Innovative Industrial Properties, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

From the record

Innovative Industrial Properties, Inc.'s 9 filed years say what it did: revenue went from $6 million in fiscal 2017 to $266 million in fiscal 2025, up 59.3% a year; it rose in 6 of 8 years; the deepest fall was 14% from fiscal 2023 to fiscal 2025; net income was positive in 8 of 9 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Innovative Industrial Properties, Inc.'s diluted share count grew about 0.9% a year, and dividends and buybacks returned about 91% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 1 sale and 6 purchases of their own stock on the open market in the year to 2026-10-13, buying about $1 million (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Innovative Industrial Properties, Inc. earned about 6 cents of profit for every dollar of shareholders' money. Leverage: it owed about 22 cents per dollar of assets, and net share issuance: its share count shrank 0.5% over the year (the filed statements).

From the record

Innovative Industrial Properties, Inc.'s standing among 30 graded names in its industry family: revenue of $266 million in fiscal 2025 ranks in the top 41% by size; a net margin of 44.5% ranks in the top 18%; revenue growth of -1.3% a year over the last 3 filed years ranks in the bottom 26% (its annual reports).

From the record

Innovative Industrial Properties, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Smithers, Paul E. (PRESIDENT, CEO AND DIRECTOR, as filed), filing under that title since 2016-11-30, 10 years (top 34% of its family); the 8 officers and directors filing in the last fifteen months have been on the record a median of 7.9 years (top 36%); 4 officer or director changes were reported on Form 8-K since 2023-11-13, against the 8 people in charge now (top 50%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Innovative Industrial Properties, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $48 million against debt of $394 million leaves -14.6% of its assets as net cash, bottom 44% of its family; cash from operations less capital spending is 74.5% of revenue (top 9%) (its annual report).

From the record

Innovative Industrial Properties, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -1.3% a year over the last three filed years against 59.3% over all 9, slowing (bottom 2% of its family); the newest year grew -13.8% (bottom 16%) (its annual reports). Innovative Industrial Properties, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

From the record

Innovative Industrial Properties, Inc.'s newest year against its own record: revenue of $266 million in fiscal 2025 came in 18.4% below the $326 million its prior three years' pace pointed to (bottom 19% of its family); net income of $118 million against a prior three-year average of $161 million (bottom 40%); a net margin of 44.5% against 53.9% before (bottom 36%) (its annual reports).