IIPR
Innovative Industrial Properties
PE ratio, current and historical analysis
- Stocks
- Real Estate
- NYSE: IIPR
- PE Ratio
The P/E ratio for Innovative Industrial Properties stock stands at 14.43 as of Jun 3, 2026. This is calculated based on the TTM EPS of $3.97 and the stock price of $57.27 per share. An increase of 18% has been observed in the PE ratio compared to its average of 12.2 of the past four quarters.
IIPR PE ratio history
Over the last nine years, the average PE ratio of Innovative Industrial Properties has been 41.03. The current 14.43 price-to-earnings ratio is 65% less than the historical average. Analyzing the last nine years, IIPR's PE ratio reached its highest point in the Mar 2018 quarter at 191.07, with a price of $26.75 and an EPS of $0.14. The Mar 2025 quarter saw the lowest point at 10.3, with a price of $54.09 and an EPS of $5.25.
Innovative Industrial Properties PE ratio by year
Maximum annual increase: 51.59% in 2020
Maximum annual decrease: -67.53% in 2022
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 11.9 | -0.34% | $47.36 | $3.98 |
| 2024 | 11.94 | -31.06% | $66.64 | $5.58 |
| 2023 | 17.32 | -4.84% | $100.82 | $5.82 |
| 2022 | 18.2 | -67.53% | $101.35 | $5.57 |
| 2021 | 56.06 | 0.41% | $262.91 | $4.69 |
| 2020 | 55.83 | 51.59% | $183.13 | $3.28 |
| 2019 | 36.83 | -38.33% | $75.87 | $2.06 |
| 2018 | 59.72 | N/A | $45.39 | $0.76 |
| 2017 | N/A | N/A | $32.31 | -$0.13 |
| 2016 | N/A | N/A | $18.19 | N/A |
| 2015 | N/A | N/A | N/A | N/A |
| 2014 | N/A | N/A | N/A | N/A |
Innovative Industrial Properties PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 12.63 | 6.13% | $50.16 | $3.97 |
| Dec 2025 | 11.9 | -4.95% | $47.36 | $3.98 |
| Sep 2025 | 12.52 | 5.92% | $53.58 | $4.28 |
| Jun 2025 | 11.82 | 14.76% | $55.22 | $4.67 |
| Mar 2025 | 10.3 | -13.74% | $54.09 | $5.25 |
| Dec 2024 | 11.94 | -49.79% | $66.64 | $5.58 |
| Sep 2024 | 23.78 | 24.96% | $134.6 | $5.66 |
| Jun 2024 | 19.03 | 5.49% | $109.22 | $5.74 |
| Mar 2024 | 18.04 | 4.16% | $103.54 | $5.74 |
| Dec 2023 | 17.32 | 33.44% | $100.82 | $5.82 |
| Sep 2023 | 12.98 | 1.33% | $75.66 | $5.83 |
| Jun 2023 | 12.81 | -4.4% | $73.01 | $5.7 |
| Mar 2023 | 13.4 | -26.37% | $75.99 | $5.67 |
| Dec 2022 | 18.2 | 8.59% | $101.35 | $5.57 |
| Sep 2022 | 16.76 | -20.83% | $88.5 | $5.28 |
IIPR Price vs fair value
IIPR average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, IIPR's PE ratio is under its 3 and 5-year averages.
PE comparison
Innovative Industrial Properties's price to earnings (P/E) of 14.43 is lower than the Real Estate sector and the industry average. Looking at the Real Estate sector average of 23.37, Innovative Industrial Properties's price to earnings (P/E) is 38% lower.
Frequently asked questions
What is Innovative Industrial Properties's PE ratio?
IIPR stock has a price to earnings ratio of 14.43 as of Jun 3, 2026.
What is the 3-year average PE ratio for Innovative Industrial Properties (IIPR)?
Over the last 3 years, the average PE ratio for IIPR stock is 14.59.
What is the 5-year average PE ratio for Innovative Industrial Properties (IIPR)?
Over the last 5 years, the average PE ratio for IIPR stock is 22.03.
What is the highest PE ratio for IIPR?
Over the last nine years, the quarterly PE ratio reached its highest level at 191.07 in the Mar 2018 quarter.
How does the current PE ratio for IIPR compare to its historical average?
The current PE ratio of IIPR is 65% lower than the 9-year historical average.
How is IIPR's PE ratio calculated (Innovative Industrial Properties PE ratio formula)?
You can calculate the P/E ratio by dividing the most recent stock price by the trailing twelve months earnings per share(EPS). As of today (Jun 3, 2026), Innovative Industrial Properties's share price is $57.27. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $3.97. Therefore, Innovative Industrial Properties's price to earnings ratio for today is 14.43. PE RATIO(14.43) = STOCK PRICE($57.27) / TTM EPS($3.97)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.