Innovative Industrial Properties, Inc.
IIPRReal Estate · Stock · quarterly payer
$58.40
Add to PortfolioForward Yield
13.01%
Annual Dividend
$7.60
Payout Ratio
194%
5-Yr Growth
11.2%
Ex-Date
Mar 31, 2026
Frequency
Quarterly
IIPR Dividend Safety Score
70/ 100
Grade B
Safe
Dividend-growth streak8 consecutive years of growth
Cut historyNever cut its dividend on record
Earnings payout coverage194% of earnings paid out
Balance-sheet strengthDebt/equity of 0.19
Yield vs its historyYield is 1.7× its 5-yr average — elevated
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Is IIPR a good dividend stock?
Yes, with caveatsInnovative Industrial Properties, Inc. (IIPR) pays a quarterly dividend yielding 13.01% ($7.60/yr), with 8 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.
Advantages
- Never cut its dividend on record
- Strong 11.2% 5-yr dividend growth
Risks
- Elevated payout ratio (194%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 13.01%
- Payout Ratio
- 194%
- Annual Dividend
- $7.60
- 5-Yr Avg Growth
- 11.2%
- Ex-Dividend Date
- Mar 31, 2026
- Years of Growth
- 8
- Frequency
- quarterly
- Beta
- 1.45
- Market Cap
- $1.7B
- P/E Ratio
- 14.9
- 5-Yr Total Return
- -69%
- 52-Week Range
- $44.58 – $61.40
- Dividend Safety
- B · 70/100
- Ever Cut?
- No
Frequently Asked Questions
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Mar 31, 2026 | — | $1.9000 | regular |
| Dec 31, 2025 | — | $1.9000 | regular |
| Sep 30, 2025 | — | $1.9000 | regular |
| Jun 30, 2025 | — | $1.9000 | regular |
| Mar 31, 2025 | — | $1.9000 | regular |
| Dec 31, 2024 | — | $1.9000 | regular |
| Sep 30, 2024 | — | $1.9000 | regular |
| Jun 28, 2024 | — | $1.9000 | regular |
| Mar 27, 2024 | — | $1.8200 | regular |
| Dec 28, 2023 | — | $1.8200 | regular |
| Sep 28, 2023 | — | $1.8000 | regular |
| Jun 29, 2023 | — | $1.8000 | regular |
| Mar 30, 2023 | — | $1.8000 | regular |
| Dec 29, 2022 | — | $1.8000 | regular |
Income Calculator
At $7.60 / yr per share
Per payment (quarterly)$190.00
Annual$760.00
Monthly avg$63.33
