Innovative Industrial Properties I (IIPR) valuation
Innovative Industrial Properties I P/E ratio history
Innovative Industrial Properties I trades at 11.8 times its earnings over the last twelve months and 12.2 times the earnings analysts expect over the next twelve. At its last 8 fiscal year ends its P/E ranged from 12.1 (year to Dec 2025) to 63.9 (year to Dec 2018), with a median of 28.5.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $47.36 | $3.93 | 12.1 | 11.3 |
| Dec 31, 2024 | $66.64 | $5.52 | 12.1 | 12.0 |
| Dec 31, 2023 | $100.82 | $5.77 | 17.5 | 18.0 |
| Dec 31, 2022 | $101.35 | $5.52 | 18.4 | 18.0 |
| Dec 31, 2021 | $262.91 | $4.55 | 57.8 | 44.0 |
| Dec 31, 2020 | $183.13 | $3.22 | 56.9 | — |
| Dec 31, 2019 | $75.87 | $1.96 | 38.7 | — |
| Dec 31, 2018 | $45.39 | $0.71 | 63.9 | — |
| Dec 31, 2017 | $32.31 | -$0.13 | n/m | — |
| Dec 31, 2016 | $18.19 | — | n/m | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Innovative Industrial Properties I valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| Innovative Industrial Properties IIIPR | $1.50B | 11.8 | 12.2 | 5.7 |
| Global Net LeaseGNL | $1.48B | — | — | 3.2 |
| Cbl Associates PropertiesCBL | $1.56B | 7.3 | — | 2.7 |
| American Assets Trust ReitAAT | $1.34B | 75.4 | 59.9 | 3.1 |
| Douglas Emmett ReitDEI | $1.70B | — | — | 1.7 |
| Getty Realty ReitGTY | $1.73B | 17.0 | 19.1 | 7.2 |
| Umh PropertiesUMH | $1.29B | 126.3 | 99.0 | 4.8 |
| Alexanders ReitALX | $1.28B | 7.6 | — | 6.0 |
| NetstreitNTST | $1.78B | 83.4 | 35.7 | 7.5 |
| Peer median | 46.2 | 47.8 | 4.0 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: IIPR financials · IIPR returns
No forecast, no recommendation. This page describes Innovative Industrial Properties I from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.