NYSE · IIPR

Innovative Industrial Properties Inc

Closing price · Nov 13, 2026 $53.02
Last insider buy price $25.00 Paid by Executive Chairman, Director Alan Gold on Oct 8, 2026 (Form 4). Not today's price.

Latest quarter · ended Sep 30, 2026

Sales grew and cash improved

descriptionFiled Nov 3, 2026
Revenue growthSlower
+0.4%
Quarter ended Dec 31, 2024: −3.0% sales vs. a year beforeQuarter ended Mar 31, 2025: −4.9% sales vs. a year beforeQuarter ended Jun 30, 2025: −21.2% sales vs. a year beforeQuarter ended Sep 30, 2025: −15.5% sales vs. a year beforeQuarter ended Dec 31, 2025: −13.1% sales vs. a year beforeQuarter ended Mar 31, 2026: −3.8% sales vs. a year beforeQuarter ended Jun 30, 2026: +0.7% sales vs. a year beforeQuarter ended Sep 30, 2026: +0.4% sales vs. a year before
Dec '24Sep '26
$64.9M vs. $64.7M a year ago
Cash from operationsBetter
$49.5M
Quarter ended Dec 31, 2024: $57.8M cash from operationsQuarter ended Mar 31, 2025: $54.2M cash from operationsQuarter ended Jun 30, 2025: $48.4M cash from operationsQuarter ended Sep 30, 2025: $45.6M cash from operationsQuarter ended Dec 31, 2025: $49.9M cash from operationsQuarter ended Mar 31, 2026: $56M cash from operationsQuarter ended Jun 30, 2026: $44.9M cash from operationsQuarter ended Sep 30, 2026: $49.5M cash from operations
Dec '24Sep '26
+8% from $45.6M a year ago
Share countBuying back
−1.6%
Quarter ended Dec 31, 2024: 28.33M sharesQuarter ended Mar 31, 2025: 28.01M sharesQuarter ended Jun 30, 2025: 28.02M sharesQuarter ended Sep 30, 2025: 28.02M sharesQuarter ended Dec 31, 2025: 28.14M sharesQuarter ended Mar 31, 2026: 28.77M sharesQuarter ended Jun 30, 2026: 27.57M sharesQuarter ended Sep 30, 2026: 27.57M shares
Dec '24Sep '26
27.57M shares vs. 28.02M a year ago

Numbers come from the company's own 10-Q and 10-K reports filed with the SEC. Each bar is one quarter, oldest on the left. The colored bar is the latest. Hover over or tap a bar to see its number.

Smart money pulse

What insiders and funds are doing

Buying Insiders: as of Nov 13 Funds: as of Jun 30, 2026
−1000+100 +42
  • account_balance
    3 funds bought, 1 sold in the quarter ended Jun 30, 2026, counting funds that hold 500 stocks or fewer and $1M+ of this one. Index funds and banks are left out.
  • info
    1 real insider sale in 12 months. $34.4K in total, not counting planned sales.

−100 means everyone selling, +100 everyone buying. This is data, not advice.

How the Pulse works

Pulse runs from −100 (everyone selling) to +100 (everyone buying). Half comes from insiders: real buyers vs. real sellers in the last 90 days (Form 4). Half comes from funds: funds that bought vs. funds that sold last quarter (13F). 13F is a snapshot of long positions on the last day of the quarter, filed up to 45 days later. It does not show short positions or trades since then.

Who owns it

332 funds report owning IIPR, up from 303

Holdings as of Jun 30, 2026
New62
Added121
Held92
Trimmed57
Sold out32

Last quarter

Who bought and who sold

Apr–Jun 2026
TrueWealth Advisors, LLC
−3%
CSM Advisors, LLC
+26%
Uhlmann Price Securities, LLC
New
Moran Wealth Management, LLC
New

Change in shares held from Mar 31 to Jun 30, 2026, biggest holdings first. Only funds that hold 500 stocks or fewer and $1M+ of this one: index funds and banks own almost everything, so their changes say little. Bars stop at ±100%.

Insider trades · last 12 months

Real buys and sales

● Open-market buy● Open-market sale
CEOCFOOther officersDirectorsDecJanFebMarAprMayJunJulAugSepOctNovShares withheld for tax · Jan 1 · $57KOption exercise · Jan 1 · 4,555 shShares withheld for tax · Jan 1 · $77.4KShares withheld for tax · Jan 1 · $520KOption exercise · Jan 2 · 911 shOption exercise · Jan 2 · 10,653 shShares withheld for tax · Jan 2 · $256KStock grant · Jan 20 · 6,522 shStock grant · Jan 20 · 20,061 shStock grant · Jan 20 · 47,643 shStock grant · Jun 9 · 2,652 shStock grant · Jun 19 · 9,219 shStock grant · Jun 19 · 22,299 shOpen-market buy · Aug 31 · $29.9KOpen-market sale · Sep 15 · $34.4KOpen-market buy · Oct 8 · $1M
CEOCFOOther officersDirectorsJunJulAugSepOctNovStock grant · Jun 9 · 2,652 shStock grant · Jun 19 · 9,219 shStock grant · Jun 19 · 22,299 shOpen-market buy · Aug 31 · $29.9KOpen-market sale · Sep 15 · $34.4KOpen-market buy · Oct 8 · $1M

Last 6 months. A wider screen shows 12.

Showing 3 real trades. Hidden: 6 stock grants, 4 tax withholdings, 3 option exercises. Those happen on a schedule and say little about what an insider thinks. Bigger dot means a bigger trade.

Real trades, newest first

Oct 8 Alan Gold Executive Chairman, Director Open-market buy $1M 40,000 sh at $25.00
Sep 15 Scott Shoemaker Director Open-market sale $34.4K 611 sh at $56.36 Sold 23% of stake
Aug 31 Bruce Ives Director Open-market buy $29.9K 528 sh at $56.70

Showing every filing. Dashed circles are routine: grants, tax withholding, option exercises and planned sales.

Top holders

Biggest funds in IIPR

As of Jun 30, 2026
FundOwnsValueChange
BlackRock, Inc.18.1%$310M+5%
Vanguard Portfolio Management LLC10.2%$175M+3%
State Street Corp5.9%$104M+3%
Vanguard Capital Management LLC4.7%$80.1M+4%
Charles Schwab Investment Management Inc2.4%$40.2M+13%

"Owns" is shares reported divided by shares outstanding.

Where this data comes from. Insider trades, fund holdings, activist stakes and company results come from public SEC EDGAR filings (Forms 4, 13F, 13D/13G, 10-Q and 8-K). Congress trades come from the STOCK Act reports members file with the House Clerk and the Senate. Daily closing prices come from post-no-preference/stocks on DoltHub, a community-run database shared under CC BY-SA 4.0; the prices we show stay under that license. They are each day's close, not live or official exchange prices.

This is data, not investment advice. About StockToast