Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of February 28, 2026, Innovative Industrial Properties, Inc. (IIPR) has a Wall Street consensus price target of $44.00, based on estimates from 11 covering analysts. With the stock currently trading at $52.96, this represents a potential downside of -16.9%. The company has a market capitalization of $1.48B.
Analyst price targets range from a low of $44.00 to a high of $44.00, representing a 0% spread in expectations. The median target of $44.00 aligns closely with the consensus average. The tight target dispersion indicates high conviction among analysts.
The current analyst consensus rating is Hold, with 4 analysts rating the stock as a Buy or Strong Buy,5 rating it Hold, and 2 rating it Sell or Strong Sell. The mixed ratings reflect uncertainty about near-term direction.
From a valuation perspective, IIPR trades at a trailing P/E of 13.5x and forward P/E of 11.9x. The forward PEG ratio of 3.18 reflects a premium valuation. Analysts expect EPS to grow +6.5% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $61.70, with bear and bull scenarios of $-1530.47 and $162.05 respectively. Model confidence stands at 37/100, suggesting limited visibility into future performance.
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Start ComparisonIIPR's consensus price target is $44, -16.9% below the current price of $52.96. The 11 analysts tracking IIPR see downside risk at present valuations.
IIPR has a consensus rating of "Hold" based on 11 Wall Street analysts. The rating breakdown is mixed, with 5 Hold ratings making up the largest segment. The consensus 12-month price target of $44 implies -16.9% downside from current levels.
With a forward P/E of 11.9011x, IIPR trades at a relatively low valuation. The consensus target of $44 implies -16.9% move, suggesting the market may be pricing in risks.
The most bullish Wall Street analyst has a price target of $44 for IIPR, while the most conservative target is $44. The consensus of $44 represents the median expectation. Our quantitative valuation model projects a bull case target of $162 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
IIPR is moderately covered, with 11 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 4 have Buy ratings, 5 recommend Hold, and 2 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month IIPR stock forecast based on 11 Wall Street analysts shows a consensus price target of $44, with estimates ranging from $44 (bear case) to $44 (bull case). The median consensus rating is "Hold". Our proprietary valuation model produces a base case fair value of $62, with bear/bull scenarios of $-1530/$162.
Our quantitative valuation model calculates IIPR's fair value at $62 (base case), with a bear case of $-1530 and bull case of $162. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 37/100.
IIPR trades at a forward P/E ratio of 11.9x based on next-twelve-months earnings estimates compared to a trailing P/E of 13.5x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Analysts are cautious on IIPR, with 2 Sell ratings and a price target of $44 (-16.9% from current price). The "Hold" consensus suggests careful evaluation before buying. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
IIPR analyst price targets range from $44 to $44, a 0% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $44 consensus represents the middle ground. Our model's $-1530-$162 range provides an independent fundamental perspective.