Innovative Industrial Properties, Inc. (IIPR) Price Target Analysis
Wall Street analyst price targets, ratings consensus & upside potential · Updated May 1, 2026
Current Price
$57.69
Price Target
$44.00
Target Range
$44.00 — $44.00
Analyst Rating
Hold
Forward P/E14.0x
Trailing P/E14.7x
Forward PEG3.75
Implied Growth+2.9%
Median Target$44.00
Analyst Spread0.0%
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Bear Case
$44
-23.7%
Consensus
$44
-23.7%
Bull Case
$44
-23.7%
IIPR Price Target Analysis
Updated May 6, 2026As of May 6, 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 $57.69, this represents a potential downside of -27.1%. The company has a market capitalization of $1.65B.
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,6 rating it Hold, and 1 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 14.7x and forward P/E of 14.0x. The forward PEG ratio of 3.75 reflects a premium valuation. Analysts expect EPS to grow +2.9% over the next year.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Real Estate stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside+143.8%
Avg Forward P/E25.1x
Peers with Coverage9 / 10
| Company | Market Cap | Price | Target | Upside | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 REFIChicago Atlantic Real Estate Finance, Inc. | $258M | $12.25 | $14.00 | +14.3% | Buy | 6.8x | 6 |
 SACHSachem Capital Corp. | $51M | $1.07 | — | — | — | — | — |
 ORealty Income Corporation | $59.8B | $64.01 | $65.25 | +2.6% | Hold | 38.2x | 34 |
 STAGSTAG Industrial, Inc. | $7.4B | $38.55 | $45.50 | +19.6% | Buy | 37.5x | 21 |
 COLDAmericold Realty Trust, Inc. | $3.6B | $12.70 | $13.25 | +10.6% | Buy | — | 19 |
 GTYGetty Realty Corp. | $2.0B | $33.08 | $34.00 | +3.1% | Buy | 22.0x | 13 |
 EPRTEssential Properties Realty Trust, Inc. | $6.8B | $31.40 | $36.50 | +17.1% | Buy | 23.9x | 22 |
 ADCAgree Realty Corporation | $9.2B | $76.50 | $83.50 | +9.9% | Buy | 38.8x | 32 |
 CGCCanopy Growth Corporation | $124M | $1.15 | $14.47 | +1221.5% | Hold | — | 26 |
 SAFESafehold Inc. | $1.1B | $15.09 | $14.00 | -4.2% | Buy | 8.6x | 17 |
Upside Potential Comparison
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Start ComparisonIIPR — Frequently Asked Questions
Quick answers to the most common questions about buying IIPR stock.
What is the IIPR stock price target for 2026?
IIPR's consensus price target is $44, -27.1% below the current price of $57.69. The 11 analysts tracking IIPR see downside risk at present valuations.
Is IIPR a buy, sell, or hold?
IIPR has a consensus rating of "Hold" based on 11 Wall Street analysts. The rating breakdown is mixed, with 6 Hold ratings making up the largest segment. The consensus 12-month price target of $44 implies -27.1% downside from current levels.
Is IIPR stock overvalued or undervalued?
With a forward P/E of 14.0279x, IIPR trades at a relatively low valuation. The consensus target of $44 implies -27.1% move, suggesting the market may be pricing in risks.
How high can IIPR stock go?
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. These targets typically reflect 12-month expectations.
How many analysts cover IIPR stock?
IIPR is moderately covered, with 11 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 4 have Buy ratings, 6 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the IIPR stock forecast?
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".
What is IIPR's forward P/E ratio?
IIPR trades at a forward P/E ratio of 14.0x based on next-twelve-months earnings estimates compared to a trailing P/E of 14.7x. 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.
Should I buy IIPR stock?
Analysts are cautious on IIPR, with 1 Sell ratings and a price target of $44 (-27.1% 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.
Why do IIPR price targets vary so much?
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.