Logo Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc. (IIPR) stock: analyst price target and their real reliability

Live quote · data updated Aug 28, 2026
Innovative Industrial Properties, Inc. · Real Estate · ref. ETF XLRE · 52 calls · price $56.42
🏆JPI 2026 portfoliosSee tracking →
What the company does: Innovative Industrial Properties, Inc. is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties and life science real estate.

📈 Innovative Industrial Properties, Inc. (IIPR) stock price

$56.42+0.2% over range
Aug 28, 25low $44.58 · high $64.67Aug 27, 26
📏 Click 2 points (left → right) to measure the change · click again to clear.
SellBuy
Sell
0% recommend buying · 2 analysts
📊 JPI status : Innovative Industrial Properties, Inc. has never appeared in a JPI ranking (Fair or Risk +) — our methods haven't picked it to date. See the selected stocks →
⚠️ The stock trades above the median target: it has beaten expectations. The “Sell” reflects conviction on the company, but the remaining quantified upside is low/negative.

🎯 IIPR price target & analyst consensusprice $56.42

The price target · all analysts combined (2 targets)
Highest target · 1 firm of 2$51-9.6%
Median target · of 2 targets$48-14.9%
Lowest target · 1 firm of 2$45-20.2%
Current price$56.42
⭐ What the most reliable analysts say · those who beat their sector, targets replayed on real prices

⭐ The most reliable of them, either direction: Piper Sandler59% of its targets hit on this sector (54 calls tested). It aims for $51 (-9.6 %), call made on July 22, 2026, maturing on July 22, 2027 (37 d ago).

The 1 reliable analyst $51-9.6 %
The 1 other firm $45-20 %
How to read it: the 1 reliable firms are not filtered by optimism — 0 aim above the price, 1 below, hence their $51 median. “The 1 others” are the firms that don't pass our reliability filter on this sector.
The consensus · 2 ratings (last 6 months)
Strong Buy00%
Buy00%
Hold150%
Sell150%
Strong Sell00%
Go deeper on the analysts
All analysts (the consensus)  ·  vs  ·  the best (those who've been right)
💬 A question about Innovative Industrial Properties, Inc.? The JPI assistant answers using our backtest data.

🔎 Detailed analyses

✅ Historical analyst reliability on IIPR

Hit rate measured on targets already matured (12 months), replayed against real prices. Click a header to sort.

Firm % right i Gain vs sector i Calls i
Piper Sandler  70% +30.3% 10
BTIG  67% +0.3% 3
Compass Point  62% +14.4% 8
Roth Capital 50% +15.3% 2
JMP Securities 0% -41.7% 3
Roth MKM 0% -46.0% 2

📊 What $1,000 invested in Innovative Industrial Properties, Inc. would be worth › open the full page

In short — $1,000 invested in Innovative Industrial Properties, Inc. 10 years ago would be worth $3,503 today, i.e. +13%/yr on average. Best year: 2020 (+141%), worst: 2022 (-61%). Price performance, excluding dividends.

If I'd invested $1,000 in Innovative Industrial Properties, Inc.

InvestmentWorth todayGain
1 years ago$956-4%
3 years ago$629-37%
5 years ago$348-65%
→ See Innovative Industrial Properties, Inc.'s full return history + gain calculator

Return by year (Innovative Industrial Properties, Inc.)

YearReturn$1,000 invested at year start
2026 (YTD)+35%$1,345 (+35%)
2025-29%$956 (-4%)
2024-34%$632 (-37%)
→ See Innovative Industrial Properties, Inc.'s full return history + gain calculator
⚠️ Past performance, not predictive nor advice. Prices in $, excluding dividends. Yahoo Finance data.

📰 Recent news on Innovative Industrial Properties, Inc.

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📋 All analyst calls on IIPR

Piper Sandler 
Jul 21, 26
▼ Underweight · 🎯$51
Price at call : $62.31 — upside -18%
Today : $56.42 — upside -10%
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
in progress (365j)
matures : Jul 21, 27
Compass Point 
Mar 3, 26
■ Neutral neutral · not a buy · 🎯$45
Price at call : $56.66 — gap to target -21%
Today : $56.42 — gap to target -20%
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
in progress (365j)
matures : Mar 3, 27
Piper Sandler 
Feb 25, 26
▼ Underweight · 🎯$45
Price at call : $54.62 — upside -18%
Today : $56.42 — upside -20%
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
in progress (365j)
matures : Feb 25, 27
Piper Sandler 
Nov 5, 25
▼ Underweight · 🎯$44
Price at call : $50.96 — upside -14%
Today : $56.42 — upside -22%
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
in progress (365j)
matures : Nov 5, 26
■ Peer Perform neutral · not a buy
🎯 on IIPR : 0% (1 call matured) · 📊 on Real estate : 14.3% · -4.4% (14 calls)
in progress (365j)
matures : Jul 2, 26
Piper Sandler 
Apr 15, 25
▼ Underweight · 🎯$45
Price at call : $50.96 — upside -12%
Today : $56.42 — upside -20%
Expected -12% · Actual +2% · Reason (≤ −15%) : ✗ No
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
-2.0%
stock +2% · XLRE +10%
matured Apr 15, 26
Compass Point 
Mar 31, 25
▼ Sell · 🎯$50
Price at call : $54.09 — upside -8%
Today : $56.42 — upside -11%
Expected -8% · Actual -7% · Reason (≤ −15%) : ✗ No
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
+7.3%
stock -7% · XLRE -2%
matured Mar 31, 26
Piper Sandler 
Mar 31, 25
▼ Underweight · 🎯$55
Price at call : $54.09 — upside +2%
Today : $56.42 — upside -3%
Expected +2% · Actual -7% · Reason (≤ −15%) : ✗ No
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
+7.3%
stock -7% · XLRE -2%
matured Mar 31, 26
See the other 44 calls, newest to oldest
Compass Point 
Mar 18, 25
■ Neutral neutral · not a buy · 🎯$60
Price at call : $63.87 — gap to target -6%
Today : $56.42 — gap to target +6%
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
in progress (365j)
matures : Mar 18, 26
Piper Sandler 
Mar 17, 25
▼ Underweight · 🎯$60
Price at call : $65.32 — upside -8%
Today : $56.42 — upside +6%
Expected -8% · Actual -18% · Reason (≤ −15%) : ✓ Yes
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
+18.0%
stock -18% · XLRE +0%
matured Mar 17, 26
■ Market Perform neutral · not a buy
🎯 on IIPR : no call matured yet · 📊 unranked overall
in progress (365j)
matures : Mar 17, 26
Roth MKM
Feb 21, 25
▲ Buy · 🎯$130
Price at call : $73.18 — upside +78%
Today : $56.42 — upside +130%
Expected +78% · Actual -37% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 0% (2 calls matureds) · 📊 unranked overall
-36.9%
stock -37% · XLRE +3%
matured Feb 21, 26
BTIG 
Dec 23, 24
■ Neutral neutral · not a buy
🎯 on IIPR : 50% (2 calls matureds) · 📊 on Real estate : 41.7% · -4.5% (24 calls)
in progress (365j)
matures : Dec 23, 25
Compass Point 
Dec 20, 24
■ Neutral neutral · not a buy · 🎯$78
Price at call : $70.45 — gap to target +11%
Today : $56.42 — gap to target +38%
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
in progress (365j)
matures : Dec 20, 25
▲ Buy · 🎯$130
Price at call : $98.06 — upside +33%
Today : $56.42 — upside +130%
Expected +33% · Actual -43% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 0% (1 call matured) · 📊 unranked overall
-42.5%
stock -43% · XLRE -1%
matured Dec 17, 25
JMP Securities
Dec 16, 24
■ Market Perform neutral · not a buy
🎯 on IIPR : 0% (3 calls matureds) · 📊 unranked overall
in progress (365j)
matures : Dec 16, 25
Piper Sandler 
Nov 8, 24
■ Neutral neutral · not a buy · 🎯$118
Price at call : $106.37 — gap to target +11%
Today : $56.42 — gap to target +109%
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
in progress (365j)
matures : Nov 8, 25
Compass Point 
Nov 8, 24
▲ Buy · 🎯$125
Price at call : $106.37 — upside +18%
Today : $56.42 — upside +122%
Expected +18% · Actual -52% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
-51.6%
stock -52% · XLRE -6%
matured Nov 8, 25
Piper Sandler 
Aug 9, 24
■ Neutral neutral · not a buy · 🎯$120
Price at call : $114.45 — gap to target +5%
Today : $56.42 — gap to target +113%
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
in progress (365j)
matures : Aug 9, 25
Roth MKM
Jul 22, 24
▲ Buy · 🎯$140
Price at call : $122.08 — upside +15%
Today : $56.42 — upside +148%
Expected +15% · Actual -55% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 0% (2 calls matureds) · 📊 unranked overall
-55.1%
stock -55% · XLRE +5%
matured Jul 22, 25
Craig-Hallum 
Mar 7, 24
■ Hold neutral · not a buy · 🎯$100
Price at call : $96.88 — gap to target +3%
Today : $56.42 — gap to target +77%
🎯 on IIPR : 0% (1 call matured) · 📊 overall : 44.3% · +4.1% (210 calls)
in progress (365j)
matures : Mar 7, 25
Piper Sandler 
Feb 29, 24
■ Neutral neutral · not a buy · 🎯$103
Price at call : $97.99 — gap to target +5%
Today : $56.42 — gap to target +83%
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
in progress (365j)
matures : Feb 28, 25
Piper Sandler 
Nov 6, 23
■ Neutral neutral · not a buy · 🎯$85
Price at call : $78.48 — gap to target +8%
Today : $56.42 — gap to target +51%
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
in progress (365j)
matures : Nov 5, 24
Compass Point 
Sep 5, 23
■ Neutral neutral · not a buy · 🎯$95
Price at call : $85.78 — gap to target +11%
Today : $56.42 — gap to target +68%
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
in progress (365j)
matures : Sep 4, 24
Piper Sandler 
Jun 30, 23
■ Neutral neutral · not a buy · 🎯$80
Price at call : $73.01 — gap to target +10%
Today : $56.42 — gap to target +42%
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
in progress (365j)
matures : Jun 29, 24
Piper Sandler 
May 31, 23
▲ Overweight · 🎯$80
Price at call : $66.1 — upside +21%
Today : $56.42 — upside +42%
Expected +21% · Actual +62% · Reason (≥ +15%) : ✓ Yes
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
+61.8%
stock +62% · XLRE +4%
matured May 30, 24
Compass Point 
May 17, 23
▲ Buy · 🎯$100
Price at call : $70.65 — upside +42%
Today : $56.42 — upside +77%
Expected +42% · Actual +61% · Reason (≥ +15%) : ✓ Yes
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
+61.3%
stock +61% · XLRE +7%
matured May 16, 24
Craig-Hallum 
May 10, 23
■ Hold neutral · not a buy · 🎯$80
Price at call : $72.13 — gap to target +11%
Today : $56.42 — gap to target +42%
🎯 on IIPR : 0% (1 call matured) · 📊 overall : 44.3% · +4.1% (210 calls)
in progress (365j)
matures : May 9, 24
Piper Sandler 
Apr 5, 23
▲ Overweight · 🎯$97
Price at call : $72.09 — upside +35%
Today : $56.42 — upside +72%
Expected +35% · Actual +39% · Reason (≥ +15%) : ✓ Yes
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
+39.4%
stock +39% · XLRE +3%
matured Apr 4, 24
Piper Sandler 
Mar 1, 23
▲ Overweight · 🎯$120
Price at call : $86.27 — upside +39%
Today : $56.42 — upside +113%
Expected +39% · Actual +14% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
+13.8%
stock +14% · XLRE +4%
matured Feb 29, 24
BTIG 
Jan 24, 23
▲ Buy · 🎯$179
Price at call : $85.78 — upside +109%
Today : $56.42 — upside +217%
Expected +109% · Actual +9% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 50% (2 calls matureds) · 📊 on Real estate : 41.7% · -4.5% (24 calls)
+8.9%
stock +9% · XLRE -3%
matured Jan 24, 24
Compass Point 
Jan 20, 23
▲ Buy · 🎯$125
Price at call : $88.38 — upside +41%
Today : $56.42 — upside +122%
Expected +41% · Actual +9% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
+9.0%
stock +9% · XLRE -1%
matured Jan 20, 24
JMP Securities
Jan 20, 23
■ Market Perform neutral · not a buy
🎯 on IIPR : 0% (3 calls matureds) · 📊 unranked overall
in progress (365j)
matures : Jan 20, 24
Compass Point 
Jan 3, 23
▲ Buy · 🎯$145
Price at call : $99.21 — upside +46%
Today : $56.42 — upside +157%
Expected +46% · Actual -4% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
-3.9%
stock -4% · XLRE +4%
matured Jan 3, 24
Piper Sandler 
Oct 7, 22
▲ Overweight · 🎯$117
Price at call : $91.12 — upside +28%
Today : $56.42 — upside +107%
Expected +28% · Actual -18% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
-17.8%
stock -18% · XLRE -2%
matured Oct 7, 23
Compass Point 
Sep 19, 22
▲ Buy · 🎯$175
Price at call : $102.31 — upside +71%
Today : $56.42 — upside +210%
Expected +71% · Actual -17% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
-17.1%
stock -17% · XLRE -10%
matured Sep 19, 23
Piper Sandler 
Aug 8, 22
▲ Overweight · 🎯$135
Price at call : $93.65 — upside +44%
Today : $56.42 — upside +139%
Expected +44% · Actual -13% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
-12.6%
stock -13% · XLRE -15%
matured Aug 8, 23
Compass Point 
Aug 8, 22
■ Neutral neutral · not a buy · 🎯$100
Price at call : $93.65 — gap to target +7%
Today : $56.42 — gap to target +77%
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
in progress (365j)
matures : Aug 8, 23
JMP Securities
Jul 19, 22
▲ Market Outperform · 🎯$150
Price at call : $93.46 — upside +60%
Today : $56.42 — upside +166%
Expected +60% · Actual -16% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 0% (3 calls matureds) · 📊 unranked overall
-15.8%
stock -16% · XLRE -7%
matured Jul 19, 23
Wolfe Research 
Jul 19, 22
■ Peer Perform neutral · not a buy
🎯 on IIPR : 0% (1 call matured) · 📊 on Real estate : 14.3% · -4.4% (14 calls)
in progress (365j)
matures : Jul 19, 23
▲ Market Outperform · 🎯$190
Price at call : $133.58 — upside +42%
Today : $56.42 — upside +237%
Expected +42% · Actual -49% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 0% (3 calls matureds) · 📊 unranked overall
-49.4%
stock -49% · XLRE -16%
matured Jun 2, 23
Craig-Hallum 
May 9, 22
▲ Buy
Actual -45% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 0% (1 call matured) · 📊 overall : 44.3% · +4.1% (210 calls)
-45.2%
stock -45% · XLRE -13%
matured May 9, 23
▲ Market Outperform · 🎯$300
Price at call : $274.42 — upside +9%
Today : $56.42 — upside +432%
Expected +9% · Actual -60% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 0% (3 calls matureds) · 📊 unranked overall
-59.9%
stock -60% · XLRE -25%
matured Nov 4, 22
BTIG 
Sep 1, 21
▲ Buy · 🎯$290
Price at call : $249.21 — upside +16%
Today : $56.42 — upside +414%
Expected +16% · Actual -64% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 50% (2 calls matureds) · 📊 on Real estate : 41.7% · -4.5% (24 calls)
-63.8%
stock -64% · XLRE -15%
matured Sep 1, 22
Craig-Hallum 
Aug 9, 21
■ Hold neutral · not a buy · 🎯$240
Price at call : $227.99 — gap to target +5%
Today : $56.42 — gap to target +325%
🎯 on IIPR : 0% (1 call matured) · 📊 overall : 44.3% · +4.1% (210 calls)
in progress (365j)
matures : Aug 9, 22
Roth Capital
Aug 6, 21
▲ Buy · 🎯$245
Price at call : $228.45 — upside +7%
Today : $56.42 — upside +334%
Expected +7% · Actual -59% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 50% (2 calls matureds) · 📊 unranked overall
-59.0%
stock -59% · XLRE -6%
matured Aug 6, 22
▲ Outperform · 🎯$249
Price at call : $199.15 — upside +25%
Today : $56.42 — upside +341%
Expected +25% · Actual -43% · Reason (≥ +15%) : ✗ No
🎯 on IIPR : 0% (1 call matured) · 📊 on Real estate : 14.3% · -4.4% (14 calls)
-43.1%
stock -43% · XLRE -7%
matured Jul 2, 22
Piper Sandler 
Nov 5, 20
▲ Overweight · 🎯$160
Price at call : $152.38 — upside +5%
Today : $56.42 — upside +184%
Expected +5% · Actual +85% · Reason (≥ +15%) : ✓ Yes
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
+85.0%
stock +85% · XLRE +35%
matured Nov 5, 21
Roth Capital
Sep 18, 20
▲ Buy · 🎯$150
Price at call : $123.26 — upside +22%
Today : $56.42 — upside +166%
Expected +22% · Actual +90% · Reason (≥ +15%) : ✓ Yes
🎯 on IIPR : 50% (2 calls matureds) · 📊 unranked overall
+89.6%
stock +90% · XLRE +34%
matured Sep 18, 21
Piper Sandler 
Sep 8, 20
▲ Overweight · 🎯$150
Price at call : $118.41 — upside +27%
Today : $56.42 — upside +166%
Expected +27% · Actual +110% · Reason (≥ +15%) : ✓ Yes
🎯 on IIPR : 70% (10 calls matureds) · 📊 on Real estate : 59.3% · +10.8% (54 calls)
+109.8%
stock +110% · XLRE +35%
matured Sep 8, 21
Compass Point 
Oct 8, 18
▲ Buy · 🎯$50
Price at call : $44.9 — upside +11%
Today : $56.42 — upside -11%
Expected +11% · Actual +92% · Reason (≥ +15%) : ✓ Yes
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
+91.9%
stock +92% · XLRE +22%
matured Oct 8, 19
Compass Point 
Dec 12, 16
▲ Buy · 🎯$21
Price at call : $16.82 — upside +25%
Today : $56.42 — upside -63%
Expected +25% · Actual +18% · Reason (≥ +15%) : ✓ Yes
🎯 on IIPR : 63% (8 calls matureds) · 📊 on Real estate : 44.9% · -1.9% (49 calls)
+18.2%
stock +18% · XLRE +7%
matured Dec 12, 17

Frequently asked questions

Should I buy Innovative Industrial Properties, Inc. stock?

This isn't buy advice. For Innovative Industrial Properties, Inc., the analyst consensus is "Sell", with an average price target of $48.00 (-15% vs the current price). What matters is their past reliability on this stock: the most reliable one is right 70% of the time (10 calls tracked on Innovative Industrial Properties, Inc.). We show the numbers — you decide.

Is it too late to buy Innovative Industrial Properties, Inc.? How high can it go?

The most bullish analyst target on Innovative Industrial Properties, Inc. is $51.00 (-10% above today's price); the average is $48.00. That's the upside they see. Check how reliable those analysts have actually been on Innovative Industrial Properties, Inc. on our site before trusting it.

Is Innovative Industrial Properties, Inc. still a good buy?

The most useful "opinion" isn't an opinion — it's a track record: 6 analysts have a real record on Innovative Industrial Properties, Inc., the best hitting 70% over 10 calls. Current consensus: "Sell". Make your call on data, not noise.

What has Innovative Industrial Properties, Inc.'s past performance been?

Historical returns and a "how much if I had invested" calculator: IIPR performance & returns.

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JPI AI Analyst AI assistant · JPI Invest
Answers based on the tool’s data · not financial advice · full version (free)