Innovative Industrial Properties Inc
NYSE:IIPR
Intrinsic Value
Innovative Industrial Properties, Inc. is a real estate investment trust, which engages in the acquisition, ownership, and management of industrial properties. [ Read More ]
The intrinsic value of one IIPR stock under the Base Case scenario is 97.42 USD. Compared to the current market price of 103.54 USD, Innovative Industrial Properties Inc is Overvalued by 6%.
Valuation Backtest
Innovative Industrial Properties Inc
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Fundamental Analysis
Optimistic Outlook Despite Industry Headwinds
2023-Q3 Earnings Call
The company anticipates a positive shift if the SAFE Banking Act passes, potentially encouraging more banks to engage and afford better and cheaper access for operators. However, large banks like Wells Fargo and Chase are unlikely to enter the market even then. Addressing credit issues with tenants remains an ongoing process, though not a 'conveyor belt' of problems as suggested by one analyst. Executives believe cracking down on the illicit market, stabilizing prices, and improved capital access due to stable interest rates will bolster operator credit health. The potential for retroactive tax relief in 2024 from 280E rescheduling would provide immediate financial boosts. Investment continues in promising markets like New York, expecting growth despite current difficulties and entrenchment of illegal operations. The company is resolving issues with certain assets, such as the Skymint properties, by signing new leases and assuming no changes to existing favorable lease terms.
Balance Sheet Decomposition
Innovative Industrial Properties Inc
Current Assets | 170.3m |
Cash & Short-Term Investments | 140.2m |
Other Current Assets | 30m |
Non-Current Assets | 2.2B |
Long-Term Investments | 21.9m |
PP&E | 2.2B |
Intangibles | 8.2m |
Other Non-Current Assets | 23.5m |
Current Liabilities | 137.2m |
Accounts Payable | 11.4m |
Accrued Liabilities | 5.1m |
Other Current Liabilities | 120.8m |
Non-Current Liabilities | 300.9m |
Long-Term Debt | 300.9m |
Earnings Waterfall
Innovative Industrial Properties Inc
Revenue
|
309.5m
USD
|
Cost of Revenue
|
-24.9m
USD
|
Gross Profit
|
284.6m
USD
|
Operating Expenses
|
-110m
USD
|
Operating Income
|
174.6m
USD
|
Other Expenses
|
-10.4m
USD
|
Net Income
|
164.2m
USD
|
Free Cash Flow Analysis
Innovative Industrial Properties Inc
What is Free Cash Flow?
IIPR Profitability Score
Profitability Due Diligence
Innovative Industrial Properties Inc's profitability score is 57/100. The higher the profitability score, the more profitable the company is.
Score
Innovative Industrial Properties Inc's profitability score is 57/100. The higher the profitability score, the more profitable the company is.
IIPR Solvency Score
Solvency Due Diligence
Innovative Industrial Properties Inc's solvency score is 69/100. The higher the solvency score, the more solvent the company is.
Score
Innovative Industrial Properties Inc's solvency score is 69/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
IIPR Price Targets Summary
Innovative Industrial Properties Inc
According to Wall Street analysts, the average 1-year price target for IIPR is 123.83 USD with a low forecast of 101 USD and a high forecast of 187.95 USD.
Ownership
IIPR Insider Trading
Buy and sell transactions by insiders
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Shareholder Return
IIPR Price
Innovative Industrial Properties Inc
Average Annual Return | 32.39% |
Standard Deviation of Annual Returns | 89.39% |
Max Drawdown | -75% |
Market Capitalization | 2.9B USD |
Shares Outstanding | 28 210 000 |
Percentage of Shares Shorted | 12.9% |
Company Profile
Country
Industry
Market Cap
Dividend Yield
Description
Innovative Industrial Properties, Inc. is a real estate investment trust, which engages in the acquisition, ownership, and management of industrial properties. The company is headquartered in Park City, Utah and currently employs 22 full-time employees. The company went IPO on 2016-11-29. The firm is focused on the acquisition, ownership, and management of specialized industrial properties leased to state-licensed operators for their regulated state-licensed cannabis facilities. The company is engaged in the business of providing real estate for the regulated industry. The firm acquires its properties through sale-leaseback transactions and third-party purchases. The firm owns approximately 103 properties comprising an aggregate of approximately 7.7 million rentable square feet (including approximately 2.5 million rentable square feet under development/redevelopment) in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington cannabis.
Contact
IPO
Employees
Officers
The intrinsic value of one IIPR stock under the Base Case scenario is 97.42 USD.
Compared to the current market price of 103.54 USD, Innovative Industrial Properties Inc is Overvalued by 6%.