IIPR, IIPR-PA · CIK 0001677576 · operating
# Innovative Industrial Properties Inc (IIPR)
This San Diego-based real estate investment trust acquires, owns, and manages specialized industrial and life science properties across the United States. The company operates a portfolio of industrial facilities designed for manufacturing, production, and related activities, with particular focus on properties serving regulated industries. IIPR generates revenue primarily through long-term leases with corporate tenants, who occupy the facilities for operational purposes.
The company's business model centers on real estate ownership and leasing arrangements rather than manufacturing or operational services. Revenue is derived from rental income and tenant reimbursements for operating expenses and capital improvements. IIPR manages its portfolio with a lean operational structure of 23 full-time employees based at its headquarters in San Diego, California.
The REIT maintains a market capitalization of approximately $1.3 billion and trades on the New York Stock Exchange. The company's portfolio spans multiple states, though specific geographic concentration and detailed revenue by property type or tenant segment are not provided in available materials.
Fiscal years are as reported by the company and may not align with the calendar year. For example, Apple's FY 2024 ends in September 2024.
| Fiscal Year | EPS Diluted | EPS Basic | YoY | |
|---|---|---|---|---|
| 2025 | $3.93 | $3.98 | -28.8% | |
| 2024 | $5.52 | $5.58 | -4.3% | |
| 2023 | $5.77 | $5.82 | +4.5% | |
| 2022 | $5.52 | $5.57 | +21.3% | |
| 2021 | $4.55 | $4.69 | +400.0% | |
| 2020 | $0.91 | $0.91 | +16.7% | |
| 2019 | $0.78 | $0.79 | +4.0% | |
| 2018 | $0.75 | $0.76 | — | |
| 2017 | — | — | — | |
| 2016 | — | — | — |
| Report Date | Filed | Accession Number | |
|---|---|---|---|
| 2025-12-31 | 2026-02-24 | 0001677576-26-000001 | SEC ↗ |
| 2024-12-31 | 2025-02-21 | 0001558370-25-001322 | SEC ↗ |
| 2023-12-31 | 2024-02-27 | 0001558370-24-001866 | SEC ↗ |
| 2022-12-31 | 2023-02-28 | 0001558370-23-002394 | SEC ↗ |
| 2021-12-31 | 2022-02-24 | 0001558370-22-001947 | SEC ↗ |
| 2020-12-31 | 2021-02-26 | 0001558370-21-001890 | SEC ↗ |
| 2019-12-31 | 2020-03-02 | 0001104659-20-027821 | SEC ↗ |
| 2018-12-31 | 2019-03-14 | 0001144204-19-013981 | SEC ↗ |
| 2017-12-31 | 2018-03-29 | 0001144204-18-017926 | SEC ↗ |
| 2016-12-31 | 2017-03-23 | 0001144204-17-016274 | SEC ↗ |