Innovative Industrial Properties (IIPR) and Its Competitors Critical Analysis

Innovative Industrial Properties (NYSE: IIPR) is one of 15 publicly-traded companies in the “Specialized REITs” industry, but how does it contrast to its competitors? We will compare Innovative Industrial Properties to similar companies based on the strength of its dividends, institutional ownership, analyst recommendations, profitability, earnings, valuation and risk.

Profitability

This table compares Innovative Industrial Properties and its competitors’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Innovative Industrial Properties -108.39% -8.09% -7.47%
Innovative Industrial Properties Competitors 25.87% 7.30% 2.55%

Valuation and Earnings

This table compares Innovative Industrial Properties and its competitors gross revenue, earnings per share (EPS) and valuation.

Gross Revenue Net Income Price/Earnings Ratio
Innovative Industrial Properties $320,000.00 -$4.39 million -49.68
Innovative Industrial Properties Competitors $957.09 million $112.54 million 75.13

Innovative Industrial Properties’ competitors have higher revenue and earnings than Innovative Industrial Properties. Innovative Industrial Properties is trading at a lower price-to-earnings ratio than its competitors, indicating that it is currently more affordable than other companies in its industry.

Analyst Recommendations

This is a summary of current ratings and recommmendations for Innovative Industrial Properties and its competitors, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Innovative Industrial Properties 0 0 1 0 3.00
Innovative Industrial Properties Competitors 45 264 659 24 2.67

Innovative Industrial Properties currently has a consensus price target of $23.00, indicating a potential downside of 26.52%. As a group, “Specialized REITs” companies have a potential upside of 18.97%. Given Innovative Industrial Properties’ competitors higher probable upside, analysts plainly believe Innovative Industrial Properties has less favorable growth aspects than its competitors.

Institutional and Insider Ownership

8.6% of Innovative Industrial Properties shares are held by institutional investors. Comparatively, 65.5% of shares of all “Specialized REITs” companies are held by institutional investors. 10.6% of Innovative Industrial Properties shares are held by company insiders. Comparatively, 6.3% of shares of all “Specialized REITs” companies are held by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a company is poised for long-term growth.

Dividends

Innovative Industrial Properties pays an annual dividend of $1.00 per share and has a dividend yield of 3.2%. Innovative Industrial Properties pays out -158.7% of its earnings in the form of a dividend. As a group, “Specialized REITs” companies pay a dividend yield of 4.7% and pay out 202.1% of their earnings in the form of a dividend.

Summary

Innovative Industrial Properties competitors beat Innovative Industrial Properties on 10 of the 14 factors compared.

Innovative Industrial Properties Company Profile

Innovative Industrial Properties, Inc. is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases. It is focused on leasing its properties on a triple-net lease basis, where the tenant is responsible for all aspects of and costs related to the property and its operation during the lease term, including maintenance, taxes and insurance. The Company intends to conduct business in an umbrella partnership real estate investment trust (UPREIT), structure through its operating partnership. The Company’s real estate investments will consist of primarily properties suitable for cultivation and production of medical-use cannabis.

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