IIPR
Innovative Industrial Properties, Inc.
REIT - Industrial
Market Cap$1.62B
5Y Perf.-30.7%
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Stock Comparison
IIPR vs STAG
Revenue, margins, valuation, and 5-year total return — side by side.
STAG
STAG Industrial, Inc.
REIT - Industrial
Market Cap$7.39B
5Y Perf.+43.7%
IIPR vs STAG — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | IIPR | STAG |
|---|---|---|
| Industry | REIT - Industrial | REIT - Industrial |
| Market Cap | $1.62B | $7.39B |
| Revenue (TTM) | $263M | $864M |
| Net Income (TTM) | $120M | $244M |
| Gross Margin | 60.3% | 61.8% |
| Operating Margin | 46.7% | 37.9% |
| Forward P/E | 13.2x | 38.1x |
| Total Debt | $394M | $3.29B |
| Cash & Equiv. | $48M | $15M |
IIPR vs STAG — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
IIPR
STAG
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Innovative Industri… (IIPR) | 100 | 69.3 | -30.7% |
| STAG Industrial, In… (STAG) | 100 | 143.7 | +43.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: IIPR vs STAG
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: IIPR leads in 5 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. STAG Industrial, Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
IIPR
Innovative Industrial Properties, Inc.
The Real Estate Income Play
IIPR carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 9 yrs, beta 0.92, yield 13.5%
- 436.4% 10Y total return vs STAG's 147.9%
- PEG 3.52 vs STAG's 18.70
Best for: income & stability and long-term compounding
STAG
STAG Industrial, Inc.
The Real Estate Income Play
STAG is the clearest fit if your priority is growth exposure and sleep-well-at-night.
- Rev growth 10.1%, EPS growth 40.4%, 3Y rev CAGR 8.7%
- Lower volatility, beta 0.55, Low D/E 89.7%, current ratio 0.41x
- Beta 0.55, yield 3.9%, current ratio 0.41x
Best for: growth exposure and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | STAG | 10.1% FFO/revenue growth vs IIPR's -13.8% |
| Value | IIPR | Lower P/E (13.2x vs 38.1x), PEG 3.52 vs 18.70 |
| Quality / Margins | IIPR | 45.6% margin vs STAG's 28.3% |
| Stability / Safety | STAG | Beta 0.55 vs IIPR's 0.92 |
| Dividends | IIPR | 13.5% yield, 9-year raise streak, vs STAG's 3.9% |
| Momentum (1Y) | IIPR | +20.3% vs STAG's +19.8% |
| Efficiency (ROA) | IIPR | 5.1% ROA vs STAG's 3.5%, ROIC 4.3% vs 3.5% |
IIPR vs STAG — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLIIPRLAGGINGSTAG
STAGSTAG Industrial, Inc.
1leads
IIPRInnovative Industrial…
4leads
6 Total Categories
CATEGORYLEADERvs STAGMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
IIPR4/6
Valuation MetricsMultiples, price ratios, and targets
IIPR7/7
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
IIPR7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
STAG2/2
Analyst OutlookRatings, price targets, and dividends
IIPR2/2
Income & Cash Flow (Last 12 Months)
IIPR leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
STAG is the larger business by revenue, generating $864M annually — 3.3x IIPR's $263M. IIPR is the more profitable business, keeping 45.6% of every revenue dollar as net income compared to STAG's 28.3%. On growth, STAG holds the edge at +9.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | IIPRInnovative Indust… | STAGSTAG Industrial, … |
|---|---|---|
| RevenueTrailing 12 months | $263M | $864M |
| EBITDAEarnings before interest/tax | $197M | $634M |
| Net IncomeAfter-tax profit | $120M | $244M |
| Free Cash FlowCash after capex | $144M | $443M |
| Gross MarginGross profit ÷ Revenue | +60.3% | +61.8% |
| Operating MarginEBIT ÷ Revenue | +46.7% | +37.9% |
| Net MarginNet income ÷ Revenue | +45.6% | +28.3% |
| FCF MarginFCF ÷ Revenue | +54.7% | +51.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | -3.8% | +9.1% |
| EPS Growth (YoY)Latest quarter vs prior year | -1.0% | -34.7% |
IIPR leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
IIPR leads this category, winning 7 of 7 comparable metrics.
Valuation Metrics
At 14.4x trailing earnings, IIPR trades at a 46% valuation discount to STAG's 26.5x P/E. Adjusting for growth (PEG ratio), IIPR offers better value at 3.85x vs STAG's 13.00x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | IIPRInnovative Indust… | STAGSTAG Industrial, … |
|---|---|---|
| Market CapShares × price | $1.6B | $7.4B |
| Enterprise ValueMkt cap + debt − cash | $2.0B | $10.7B |
| Trailing P/EPrice ÷ TTM EPS | 14.40x | 26.48x |
| Forward P/EPrice ÷ next-FY EPS est. | 13.17x | 38.07x |
| PEG RatioP/E ÷ EPS growth rate | 3.85x | 13.00x |
| EV / EBITDAEnterprise value multiple | 9.91x | 17.20x |
| Price / SalesMarket cap ÷ Revenue | 6.08x | 8.75x |
| Price / BookPrice ÷ Book value/share | 0.87x | 1.98x |
| Price / FCFMarket cap ÷ FCF | 9.26x | 18.40x |
IIPR leads this category, winning 7 of 7 comparable metrics.
Profitability & Efficiency
IIPR leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
STAG delivers a 6.8% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $6 for IIPR. IIPR carries lower financial leverage with a 0.21x debt-to-equity ratio, signaling a more conservative balance sheet compared to STAG's 0.90x. On the Piotroski fundamental quality scale (0–9), STAG scores 5/9 vs IIPR's 4/9, reflecting solid financial health.
| Metric | IIPRInnovative Indust… | STAGSTAG Industrial, … |
|---|---|---|
| ROE (TTM)Return on equity | +6.4% | +6.8% |
| ROA (TTM)Return on assets | +5.1% | +3.5% |
| ROICReturn on invested capital | +4.3% | +3.5% |
| ROCEReturn on capital employed | +5.8% | +4.9% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 |
| Debt / EquityFinancial leverage | 0.21x | 0.90x |
| Net DebtTotal debt minus cash | $346M | $3.3B |
| Cash & Equiv.Liquid assets | $48M | $15M |
| Total DebtShort + long-term debt | $394M | $3.3B |
| Interest CoverageEBIT ÷ Interest expense | 6.67x | 3.04x |
IIPR leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — IIPR and STAG each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in STAG five years ago would be worth $12,639 today (with dividends reinvested), compared to $4,999 for IIPR. Over the past 12 months, IIPR leads with a +20.3% total return vs STAG's +19.8%. The 3-year compound annual growth rate (CAGR) favors STAG at 6.8% vs IIPR's 4.5% — a key indicator of consistent wealth creation.
| Metric | IIPRInnovative Indust… | STAGSTAG Industrial, … |
|---|---|---|
| YTD ReturnYear-to-date | +18.3% | +5.8% |
| 1-Year ReturnPast 12 months | +20.3% | +19.8% |
| 3-Year ReturnCumulative with dividends | +14.1% | +21.8% |
| 5-Year ReturnCumulative with dividends | -50.0% | +26.4% |
| 10-Year ReturnCumulative with dividends | +436.4% | +147.9% |
| CAGR (3Y)Annualised 3-year return | +4.5% | +6.8% |
Evenly matched — IIPR and STAG each lead in 3 of 6 comparable metrics.
Risk & Volatility
STAG leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
STAG is the less volatile stock with a 0.55 beta — it tends to amplify market swings less than IIPR's 0.92 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. STAG currently trades 96.7% from its 52-week high vs IIPR's 92.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | IIPRInnovative Indust… | STAGSTAG Industrial, … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.92x | 0.55x |
| 52-Week HighHighest price in past year | $61.40 | $39.99 |
| 52-Week LowLowest price in past year | $44.58 | $33.19 |
| % of 52W HighCurrent price vs 52-week peak | +92.2% | +96.7% |
| RSI (14)Momentum oscillator 0–100 | 59.3 | 51.5 |
| Avg Volume (50D)Average daily shares traded | 303K | 1.2M |
STAG leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
IIPR leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates IIPR as "Hold" and STAG as "Buy". Consensus price targets imply 17.7% upside for STAG (target: $46) vs -22.3% for IIPR (target: $44). For income investors, IIPR offers the higher dividend yield at 13.46% vs STAG's 3.90%.
| Metric | IIPRInnovative Indust… | STAGSTAG Industrial, … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $44.00 | $45.50 |
| # AnalystsCovering analysts | 11 | 21 |
| Dividend YieldAnnual dividend ÷ price | +13.5% | +3.9% |
| Dividend StreakConsecutive years of raises | 9 | 2 |
| Dividend / ShareAnnual DPS | $7.62 | $1.51 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.2% | 0.0% |
IIPR leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
IIPR leads in 4 of 6 categories (Income & Cash Flow, Valuation Metrics). STAG leads in 1 (Risk & Volatility). 1 tied.
Best OverallInnovative Industrial Prope… (IIPR)Leads 4 of 6 categories
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IIPR vs STAG: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is IIPR or STAG a better buy right now?
For growth investors, STAG Industrial, Inc.
(STAG) is the stronger pick with 10. 1% revenue growth year-over-year, versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). Innovative Industrial Properties, Inc. (IIPR) offers the better valuation at 14. 4x trailing P/E (13. 2x forward), making it the more compelling value choice. Analysts rate STAG Industrial, Inc. (STAG) a "Buy" — based on 21 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — IIPR or STAG?
On trailing P/E, Innovative Industrial Properties, Inc.
(IIPR) is the cheapest at 14. 4x versus STAG Industrial, Inc. at 26. 5x. On forward P/E, Innovative Industrial Properties, Inc. is actually cheaper at 13. 2x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Innovative Industrial Properties, Inc. wins at 3. 52x versus STAG Industrial, Inc. 's 18. 70x.
03Which is the better long-term investment — IIPR or STAG?
Over the past 5 years, STAG Industrial, Inc.
(STAG) delivered a total return of +26. 4%, compared to -50. 0% for Innovative Industrial Properties, Inc. (IIPR). Over 10 years, the gap is even starker: IIPR returned +436. 4% versus STAG's +147. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — IIPR or STAG?
By beta (market sensitivity over 5 years), STAG Industrial, Inc.
(STAG) is the lower-risk stock at 0. 55β versus Innovative Industrial Properties, Inc. 's 0. 92β — meaning IIPR is approximately 68% more volatile than STAG relative to the S&P 500. On balance sheet safety, Innovative Industrial Properties, Inc. (IIPR) carries a lower debt/equity ratio of 21% versus 90% for STAG Industrial, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — IIPR or STAG?
By revenue growth (latest reported year), STAG Industrial, Inc.
(STAG) is pulling ahead at 10. 1% versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). On earnings-per-share growth, the picture is similar: STAG Industrial, Inc. grew EPS 40. 4% year-over-year, compared to -28. 8% for Innovative Industrial Properties, Inc.. Over a 3-year CAGR, STAG leads at 8. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — IIPR or STAG?
Innovative Industrial Properties, Inc.
(IIPR) is the more profitable company, earning 43. 0% net margin versus 32. 4% for STAG Industrial, Inc. — meaning it keeps 43. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IIPR leads at 46. 7% versus 37. 7% for STAG. At the gross margin level — before operating expenses — IIPR leads at 88. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is IIPR or STAG more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Innovative Industrial Properties, Inc. (IIPR) is the more undervalued stock at a PEG of 3. 52x versus STAG Industrial, Inc. 's 18. 70x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Innovative Industrial Properties, Inc. (IIPR) trades at 13. 2x forward P/E versus 38. 1x for STAG Industrial, Inc. — 24. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for STAG: 17. 7% to $45. 50.
08Which pays a better dividend — IIPR or STAG?
All stocks in this comparison pay dividends.
Innovative Industrial Properties, Inc. (IIPR) offers the highest yield at 13. 5%, versus 3. 9% for STAG Industrial, Inc. (STAG).
09Is IIPR or STAG better for a retirement portfolio?
For long-horizon retirement investors, STAG Industrial, Inc.
(STAG) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 55), 3. 9% yield, +147. 9% 10Y return). Both have compounded well over 10 years (STAG: +147. 9%, IIPR: +436. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between IIPR and STAG?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: IIPR is a small-cap deep-value stock; STAG is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(IIPR: -3.8% · STAG: 9.1%)Net Margin>
%
(IIPR: 45.6% · STAG: 28.3%)P/E Ratio<
x
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