Is Innovative Industrial Properties, Inc. overvalued?

Innovative Industrial Properties, Inc. (IIPR) looks undervalued — trading about 128% below its fair value.

Undervalued

Price

$56.45

Fair value

$128.89

Current P/E

7.9

Normal P/E

18.0

Market cap

$1.64B

Dividend yield

13.2%

Return on equity

7.4%

Sector

Real Estate

Fair value compares IIPR's current P/E to its own historical "normal" P/E (FAST Graphs-style). Updated 11 Aug 2026.

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