IIPR Stock — Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc. (IIPR)

IIPR is a Stock. As of September 3, 2026, its distribution rate is 13.37%, its trailing-12-month yield is 13.38%. Dividend Vision Distribution Safety Score™ is 76/100 (Generally safe). Total return is 436.2% over the past 9.8 years, 124.9 points ahead of SPY at 311.3%.

At the current 13.37% distribution rate, a $10,000 investment would generate approximately $1,337 per year, or $111.42 per month on an equivalent basis. Actual quarterly payments vary.

IIPR performance versus SPY

Data as of September 3, 2026.

Total return is 436.2% over the past 9.8 years, 124.9 points ahead of SPY at 311.3%. Its deepest 1-year drawdown was 21.3%.

IIPR key facts

Data as of September 3, 2026.

Distribution Safety Score™

76 · Generally safe

Safety-Adjusted Yield

10.16%

Asset type

Stock

Asset class

Equity

Inception date

12/01/2016

Distribution rate

13.37%

Distribution frequency

Quarterly

Trailing yield

13.38%

5-year average yield

9.04

Last close

$56.80

Market cap

$1,569,361,024

Average volume

272821.0

Last dividend

$1.90

Last ex-dividend date

06/30/2026

Last payment date

07/15/2026

Beta

1.401

Payout ratio

0.0155

P/E ratio

12.85

Forward P/E

13.624

EPS

$4.42

How Dividend Vision calculates yield and returns

Distribution rate (13.37%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (13.38%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss. Figures below use Dividend Vision data as of September 3, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of September 3, 2026.

Primary sources: prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

IIPR risks and drawbacks

Payments are quarterly, so cash flow is lumpy versus a monthly fund. The deepest 1-year drawdown on record here is 21.3%.

Who may consider IIPR — and who may not

It is a weaker fit for investors who need monthly cash flow (IIPR pays quarterly). This is educational context, not a recommendation to buy or sell.

Frequently asked questions