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IIPR Innovative Industrial Properties, Inc. — dividend yield, history & ex-dividend dates

NYSE· Quarterly dividend· Common Stock · Real Estate / REIT - Industrial

$56.25 ▲ $0.65(1.17%) as of Sep 14, 2026 03:06 UTC
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Innovative Industrial Properties, Inc. is an independently managed, Maryland-based corporation primarily focused on acquiring, owning, and overseeing unique real estate assets. These properties are subsequently leased to experienced, state-licensed operators who utilize them for their regulated medical cannabis facilities. For tax purposes, the company adopted the structure of a Real Estate Investment Trust (REIT) starting from the end of 2017.

Dividend Snapshot

StatusGrowing
Latest Dividend$1.9000
Forward Annual$7.60
FrequencyQuarterly
Last Ex-DateJun 30, 2026
1-Yr Growth1.1%Annual totals, 2024–2025

Key Metrics

Current Yield

13.51%

At the Sep 14, 2026 price

The annual dividend as a percentage of the share price. A 3% yield is about $3 of dividends a year for every $100 invested at today's price.

Annualized Dividend

$7.6000

The most recent payment scaled to a full year by how often it's paid. A $0.25 quarterly dividend annualizes to $1.00.

Frequency

Q Quarterly

How often the dividend is paid: Q = quarterly (4x a year), M = monthly, S = semi-annual, A = annual.

Rank Score

30.8

As of Sep 14, 2026

Our 0-100 house score blending yield quality, payout sustainability (the trailing-twelve-month payout ratio), profitability (TTM return on equity), valuation (TTM price-to-book) and payment reliability, recomputed daily. Higher means a stronger profile on those factors in our model — a research score, not advice or a recommendation to buy.

RSI (14)

43

As of Sep 14, 2026

Relative Strength Index (0-100), a price-momentum gauge. Above 70 is often called 'overbought', below 30 'oversold'. A technical signal, not a dividend metric.

52-Week Range

$44.58 – $64.67

Closes through Sep 11, 2026

The lowest and highest price over the past year — shows where today's price sits in its recent range.

Payout Ratio (TTM)

160.71% (EPS-based)

12 months to Jun 30, 2026 (Q2 FY2026)

The share of earnings paid out as dividends over the trailing twelve months (TTM): dividends paid divided by net income across the company's four most recent reported quarters, dated by the latest quarter end. A fiscal-year tag such as FY2025 means only annual figures were available. Lower leaves more cushion; above 100% means paying out more than the company earned. It shows n/a for funds and when net income over the period was negative; for REITs and BDCs it is marked EPS-based, since they are judged on FFO/AFFO or net investment income instead.

Years Paying

9

How many years of payments we have on record. This can understate very long histories where our data doesn't reach far enough back.

Price / Book (TTM)

0.86

Price as of Sep 14, 2026; latest reported book value

Price-to-book ratio: the share price on the date shown divided by the latest reported book value per share. A rough valuation gauge, most useful for asset-heavy sectors like REITs, banks and insurers.

S.A.F.E. Dividend Read

S.A.F.E. is our quick durability read on a dividend — the same four-check test used across the screener and our ranked lists. Solid: a model rank of 70+ and a yield of 2%+; the rank weighs the trailing-twelve-month payout ratio, return on equity and price-to-book. Accelerating: the dividend has grown over time, not stalled. Flawless: an unbroken record with no cuts or suspensions. Enduring: a long enough paying history to weather a cycle. All four met earns the S.A.F.E. flag.
S Solid
Below the Solid check (model rank 70+ and yield 2%+): rank 31/100, yield 13.51%.
A Accelerating
8 consecutive years of dividend increases.
F Flawless
No dividend cut in the available payment record.
E Enduring
9 year(s) of payments on record, under the 20 this check looks for.

Quote & Key Data

ExchangeNYSEThe stock exchange where the shares trade, such as NYSE or Nasdaq.
Volume181,900Sep 11, 2026 sessionHow many shares changed hands in the latest session — a rough read on trading activity.
Open$55.81Sep 11, 2026 sessionThe price at the start of the latest trading session.
Day Range$55.60 – $56.50Sep 11, 2026 sessionThe lowest and highest price during the latest trading session.
Prev Close$55.60Close of Sep 10, 2026The closing price from the previous trading session.
Market Cap$1.63BAs of Sep 14, 2026The company's total market value — share price times shares outstanding — on the date shown.
Shares Out29.00MImplied by market cap, Sep 14, 2026Shares outstanding implied by the market cap and share price on the date shown.
EPS (TTM)$4.8412 months to Jun 30, 2026 (Q2 FY2026)Earnings per share over the trailing twelve months (TTM), labeled with the end date of the latest reported quarter and shown in the company's reporting currency. Dividends are paid out of these earnings.
P/E (TTM)12.5Price as of Sep 14, 2026; earnings to Jun 30, 2026Price-to-earnings ratio: the share price on the date shown divided by trailing-twelve-month earnings per share. A rough gauge of how richly the stock is valued.
Ex-DividendJun 30, 2026Buy before this date to receive the upcoming payment. Buy on or after it and the seller keeps that one.
Pay DateJul 15, 2026The date the dividend is actually paid into shareholders' accounts.

Dividend Growth

3-Yr Growth (CAGR)2.3%Annual totals, 2022–2025The dividend's average annual growth rate over the period, compounded. Steady growth signals a healthy, rising payout.
5-Yr Growth (CAGR)11.2%Annual totals, 2020–2025The dividend's average annual growth rate over the period, compounded. Steady growth signals a healthy, rising payout.
Consecutive Increases8 yrsAnnual totals through 2025The number of years in a row the dividend has increased — a track record of reliability.

Why the Yield Moved (90 Days)

IIPR's dividend yield rose from 12.75% to 13.51% over the past ~90 days (+0.76 pp). Of that move, +0.00 pp came from changes in the dividend rate and +0.76 pp from the share price ($59.60 on Jun 16, 2026 → $56.25 on Sep 14, 2026). A yield that rises because the price fell is not an improvement in the payout itself.

Yield vs Its Own History

Current13.51%
1-Yr Average14.09%
Low / High11.75% – 17.05%
Percentile36%

Across 333 daily observations over the past 16 months (through Sep 11, 2026), IIPR's current yield is higher than approximately 36% of them. Our stored price history for IIPR covers the past 16 months; 3- and 5-year averages are not yet computable from it and are deliberately not shown.

Adjusted Price History

Dividend History

Dividend Payment History

Ex-dividend calendar →
Amount Type Declared Ex-Date Record Pay
$1.9000 Q Regular Jun 15, 2026 Jun 30, 2026 Jun 30, 2026 Jul 15, 2026
$1.9000 Q Regular Mar 13, 2026 Mar 31, 2026 Mar 31, 2026 Apr 15, 2026
$1.9000 Q Regular Dec 15, 2025 Dec 31, 2025 Dec 31, 2025 Jan 15, 2026
$1.9000 Q Regular Sep 15, 2025 Sep 30, 2025 Sep 30, 2025 Oct 15, 2025
$1.9000 Q Regular Jun 13, 2025 Jun 30, 2025 Jun 30, 2025 Jul 15, 2025
$1.9000 Q Regular Mar 14, 2025 Mar 31, 2025 Mar 31, 2025 Apr 15, 2025
$1.9000 Q Regular Dec 13, 2024 Dec 31, 2024 Dec 31, 2024 Jan 15, 2025
$1.9000 Q Regular Sep 13, 2024 Sep 30, 2024 Sep 30, 2024 Oct 15, 2024
$1.9000 Q Regular Jun 14, 2024 Jun 28, 2024 Jun 28, 2024 Jul 15, 2024
$1.8200 Q Regular Mar 15, 2024 Mar 27, 2024 Mar 28, 2024 Apr 15, 2024
$1.8200 Q Regular Dec 15, 2023 Dec 28, 2023 Dec 29, 2023 Jan 12, 2024
$1.8000 Q Regular Sep 15, 2023 Sep 28, 2023 Sep 29, 2023 Oct 13, 2023
$1.8000 Q Regular Jun 15, 2023 Jun 29, 2023 Jun 30, 2023 Jul 14, 2023
$1.8000 Q Regular Mar 15, 2023 Mar 30, 2023 Mar 31, 2023 Apr 14, 2023
$1.8000 Q Regular Dec 15, 2022 Dec 29, 2022 Dec 30, 2022 Jan 13, 2023
$1.8000 Q Regular Sep 15, 2022 Sep 29, 2022 Sep 30, 2022 Oct 14, 2022
$1.7500 Q Regular Jun 15, 2022 Jun 29, 2022 Jun 30, 2022 Jul 15, 2022
$1.7500 Q Regular Mar 14, 2022 Mar 30, 2022 Mar 31, 2022 Apr 14, 2022
$1.5000 Q Regular Dec 15, 2021 Dec 30, 2021 Dec 31, 2021 Jan 14, 2022
$1.5000 Q Regular Sep 15, 2021 Sep 29, 2021 Sep 30, 2021 Oct 15, 2021
$1.4000 Q Regular Jun 15, 2021 Jun 29, 2021 Jun 30, 2021 Jul 15, 2021
$1.3200 Q Regular Mar 15, 2021 Mar 30, 2021 Mar 31, 2021 Apr 15, 2021
$1.2400 Q Regular Dec 14, 2020 Dec 30, 2020 Dec 31, 2020 Jan 15, 2021
$1.1700 Q Regular Sep 15, 2020 Sep 29, 2020 Sep 30, 2020 Oct 15, 2020
$1.0600 Q Regular Jun 15, 2020 Jun 29, 2020 Jun 30, 2020 Jul 15, 2020
$1.0000 Q Regular Mar 13, 2020 Mar 30, 2020 Mar 31, 2020 Apr 15, 2020
$1.0000 Q Regular Dec 10, 2019 Dec 30, 2019 Dec 31, 2019 Jan 15, 2020
$0.7800 Q Regular Sep 13, 2019 Sep 27, 2019 Sep 30, 2019 Oct 15, 2019
$0.6000 Q Regular Jun 14, 2019 Jun 27, 2019 Jun 28, 2019 Jul 15, 2019
$0.4500 Q Regular Mar 12, 2019 Mar 28, 2019 Mar 29, 2019 Apr 15, 2019
$0.3500 Q Regular Dec 14, 2018 Dec 28, 2018 Dec 31, 2018 Jan 15, 2019
$0.3500 Q Regular Sep 14, 2018 Sep 27, 2018 Sep 28, 2018 Oct 15, 2018
$0.2500 Q Regular Jun 15, 2018 Jun 28, 2018 Jun 29, 2018 Jul 16, 2018
$0.2500 Q Regular Mar 15, 2018 Mar 28, 2018 Mar 29, 2018 Apr 16, 2018
$0.2500 Q Regular Dec 15, 2017 Dec 28, 2017 Dec 29, 2017 Jan 16, 2018
$0.1500 Q Regular Sep 15, 2017 Sep 28, 2017 Sep 29, 2017 Oct 13, 2017
$0.1500 Q Regular May 30, 2017 Jun 28, 2017 Jun 30, 2017 Jul 14, 2017

Peer Comparison

Selected REIT - Industrial dividend payers we cover, strongest DividendRank first — for context, not a recommendation.

TickerNameYield5-Yr GrowthStreakRank
IMQCF Colonial SFL SOCIMI S.A. 5.46% 8.8% 2 yrs 66
PSA Public Storage 4.05% 8.4% 0 yrs 62
TRNO Terreno Realty Corporation 3.49% 12.5% 12 yrs 62
FR First Industrial Realty Trust, Inc. 3.26% 12.2% 12 yrs 60

Related Guides & Lists

IIPR dividend — frequently asked questions

Does Innovative Industrial Properties, Inc. pay a dividend?

Yes. Innovative Industrial Properties, Inc. (IIPR) currently pays a dividend. The annualized dividend is about $7.60 per share, a yield of approximately 13.51%.

What is Innovative Industrial Properties, Inc.'s dividend yield?

Innovative Industrial Properties, Inc.'s dividend yield is approximately 13.51%, based on the most recent regular payment annualized against the current share price. Yields move as the share price changes.

How often does Innovative Industrial Properties, Inc. pay dividends?

Innovative Industrial Properties, Inc. pays dividends quarterly — 4 times per year.

How long has Innovative Industrial Properties, Inc. paid dividends?

Innovative Industrial Properties, Inc. has 9 years of dividend payments on record, and has increased its dividend for 8 consecutive years.

Data updated Sep 14, 2026. This research page is generated from Dividendly's structured market and dividend dataset using the approach described on our methodology and data sources pages. Data is automatically validated using defined rules and may also be periodically reviewed. Research only, not investment advice. Spotted a data error? Report it.

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