IIPRInnovative Industrial Properties, Inc.

Real Estate
$54.26+9.1% 1Y

Is the business good?

Mixed

The checks split: nothing decisive, though margins compressing.

1 to watch, 1 neutral, 2 without data
Margin direction, 3 years−7.1 pts

Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.

Where ROE comes from5% ROA

Margin-driven, fat margins on slower asset turns. ROE 7% = margin × turnover × leverage.

All from derived.

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

Customers and suppliers

Who buys from IIPR and who it buys from, as the companies report it.

12%of revenue comes from Ascend Wellness, the largest of 5 disclosed customers
Customerswho buys
Supplierswho it buys from

None disclosed.

A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; IIPR’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.

On our screens:Most shorted stocks

REIT, Industrial

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