IIPR vs WELL: Which Is the Better Dividend Stock?
As of Oct 27, 2026, IIPR (Innovative Industrial Properties, Inc.) screens as the stronger dividend stock, winning 6 of 8 head-to-head metrics. IIPR offers the higher yield at 14.16%, IIPR has the higher dividend-safety score, and IIPR looks like the better value (its fair-value estimate is 115% above its share price).
Key facts: IIPR vs WELL
Data as of · Source: SmarterDividends data
- As of Oct 27, 2026, Innovative Industrial Properties, Inc. (IIPR) has the higher forward dividend yield at 14.16%, versus 1.41% for Welltower Inc. (WELL).
- As of Oct 27, 2026, SmarterDividends grades IIPR's dividend safety B (70/100) and WELL's B (66/100).
- By SmarterDividends' count as of Oct 27, 2026, IIPR has raised its dividend for 8 consecutive years and WELL for 2.
- As of Oct 27, 2026, IIPR pays out 172% of its earnings as dividends and WELL pays out 133%.
- As of Oct 27, 2026, IIPR's fair-value estimate is 115% above its share price and WELL's fair-value estimate is 60% below its share price, so IIPR looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "IIPR vs WELL: Dividend Yield, Safety & Value Compared," updated Oct 27, 2026, https://smarterdividends.com/compare/iipr-vs-well
| Metric | IIPR | WELL |
|---|---|---|
| Forward yield | 14.16% | 1.41% |
| Annual dividend | $7.60 | $3.40 |
| Payout ratio | 172% | 133% |
| Years of growth | 8 yr | 2 yr |
| 5-yr dividend growth | 11.2% | 0.9% |
| 5-yr total return | -79% | 198% |
| Dividend safety score | 70 (B) | 66 (B) |
| Fair value estimate | $115.17 | $96.91 |
| Upside to fair value | +115% | -60% |
| Frequency | quarterly | quarterly |
| Market cap | $1.5B | $173.4B |
| P/E ratio | 12.1 | 107.9 |
Higher yield
IIPR
14.16%
Safer dividend
IIPR
Grade B
Faster growth
IIPR
11.2%
Better value
IIPR
+115% upside
IIPR vs WELL — FAQ
Is IIPR or WELL a better dividend stock?
On the data, IIPR wins more head-to-head categories (6 vs 2). IIPR offers the higher yield (14.16%), while IIPR has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, IIPR or WELL?
IIPR has the higher forward dividend yield at 14.16%, versus 1.41% for WELL.
Is IIPR or WELL safer?
IIPR has the higher dividend-safety score (70/100 vs 66/100), reflecting stronger payout coverage and dividend-growth history.
Is IIPR or WELL better value right now?
As of Oct 27, 2026, IIPR looks like the better value: its fair-value estimate is 115% above its share price (undervalued). For WELL, its fair-value estimate is 60% below its share price.
Related comparisons
See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.