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IIPR
Volume: 13

IIPR Stock Forecast & Price Target

IIPR Analyst Ratings

Based on 3 analyst ratings
Hold
Strong Buy 33%
Buy 0%
Hold 33%
Sell 33%
Strong Sell 0%

Bulls say

Innovative Ind Props is attractive because its balance sheet is unusually resilient, with net-debt+preferred/EBITDA at 2.3x versus a 4.9x peer average, about $142 million of cash and equivalents, and no debt maturities until 2028, giving it flexibility to refinance and fund growth. The company’s earnings power also looks solid, with estimated AFFO of $7.38 in 2026E, $7.59 in 2027E, and $8.04 in 2028E, while the 14.7% dividend yield and 100.1% 2027E FAD payout ratio suggest the payout remains supported by cash generation. Beyond the cannabis portfolio, the strategic pivot into life science through IQHQ should improve tenant quality, diversify income, and potentially lift valuation, especially as the stock still trades at 6.8x 2027E AFFO and a 12.1% implied cap rate versus a 7.5% sector average.

Bears say

Innovative Ind Props is underweight because its earnings base remains heavily exposed to cannabis tenant distress, with defaults across Kings Garden, Parallel, Green Peak, and PharmaCann showing that regulatory pressure, tax burdens, and competition continue to impair tenant liquidity and rent collection. AFFO has already fallen from $9.08 per share in 2023 to $7.24 in 2025, and while 2026 is estimated at $7.38, that modest rebound is overshadowed by uncertainty around replacement rents, the 1.3m sf of re-leasing activity, and the remaining ~800k sf still unresolved. The added concern is IQHQ, which represents about 30% of gross asset value and 26% of earnings, yet may face a significant cash shortfall versus debt service, increasing balance-sheet risk and limiting confidence in long-term cash flow durability.

IIPR has been analyzed by 3 analysts, with a consensus rating of Hold. 33% of analysts recommend a Strong Buy, 0% recommend Buy, 33% suggest Holding, 33% advise Selling, and 0% predict a Strong Sell.

This aggregate rating is based on analysts' research of Innovative Industrial Properties and is not a guaranteed prediction by Public.com or investment advice.

IIPR Analyst Forecast & Price Prediction

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FAQs About Innovative Industrial Properties (IIPR) Forecast

Analysts have given IIPR a Hold based on their latest research and market trends.

According to 3 analysts, IIPR has a Hold consensus rating as of Nov 13, 2026. This rating is provided by third-party analysts and is not investment advice from Public.com.

Wall Street analysts have set a price target of $49.08, reflecting a 0.00% increase from the current stock price.

Financial analysts have set a price target of $49.08, indicating a 0.00% increase from the current stock price, but ratings and forecasts are frequently updated based on market conditions, earnings reports, and industry trends. This prediction is provided by third-party analysts and is not investment advice from Public.com.

Innovative Industrial Properties (IIPR)

Volume: 13

IIPR Analyst Forecast & Price Prediction

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