IIPRNYSEReal EstateFiscal year ends December 31Also trades as IIPR.PA
INNOVATIVE INDUSTRIAL PROPERTIES INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$51.61−0.78 (-1.49%)
Close on Oct 19, 2026
- Market cap
- $1.55B
- P/E (TTM)
- 11.7
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
21M
Shares held, 13F filers
Institutional holders
327
58 new, 25 sold out
Net institutional buying
1M
In Q2 2026
Insider trades, 12 months
5 buys · 1 sales
Net bought $242.64K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 4,681,860 | 16.70% | 13G (passive) amendment | Jun 30, 2025 |
| Vanguard Portfolio Management | 2,862,469 | 10.38% | 13G (passive) amendment | Aug 31, 2026 |
| Vanguard Capital Management | 1,477,522 | 5.25% | 13G (passive) | Mar 31, 2026 |
| State Street Corporation | – | 6.40% | 13G (passive) amendment | Dec 31, 2023 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of IIPR | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 4,997,521 | – | $309.75M | +215,932 | 0.00% |
| Vanguard Portfolio Management LLC | 2,818,950 | – | $174.72M | +89,961 | 0.01% |
| State Street Corp | 1,628,896 | – | $103.99M | +42,222 | 0.00% |
| Vanguard Capital Management LLC | 1,292,586 | – | $80.11M | +50,424 | 0.00% |
| Charles Schwab Investment Management Inc | 648,596 | – | $40.20M | +74,963 | 0.01% |
| Arrowstreet Capital, Limited Partnership | 564,305 | – | $34.98M | +24,705 | 0.02% |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 524,194 | – | $32.49M | +8,083 | 0.04% |
| Invesco Ltd. | 497,461 | – | $30.83M | +1,384 | 0.00% |
| Northern Trust Corp | 395,997 | – | $24.54M | +15,710 | 0.00% |
| Dimensional Fund Advisors LP | 364,780 | – | $22.61M | −2,031 | 0.00% |
| Goldman Sachs Group Inc | 362,727 | – | $22.48M | −179,192 | 0.00% |
| Point72 Asset Management, L.P. | 351,544 | – | $21.79M | −113,363 | 0.02% |
| D. E. Shaw & Co., Inc. | 304,567 | – | $18.88M | −58,147 | 0.01% |
| Morgan Stanley | 262,195 | – | $16.25M | +54,921 | 0.00% |
| AlphaCore Capital LLC | 217,804 | – | $13.50M | +3,322 | 0.25% |
| Bank of New York Mellon Corp | 206,398 | – | $12.79M | +15,084 | 0.00% |
| Principal Financial Group Inc | 190,886 | – | $11.83M | +7,051 | 0.01% |
| Vanguard Fiduciary Trust Co | 190,106 | – | $11.78M | +8,962 | 0.00% |
| Legal & General Group Plc | 168,415 | – | $10.44M | −10,061 | 0.00% |
| Thrivent Financial for Lutherans | 136,621 | – | $8.47K | −16,442 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|
| Q2 2026 | 327 | 21M | 58 / 142 | 70 / 25 | 2M | 1M |
| Q1 2026 | 300 | 20M | 41 / 107 | 88 / 31 | 6M | 1M |
| Q4 2025 | 293 | 19M | 36 / 109 | 94 / 44 | 2M | 1M |
| Q3 2025 | 309 | 19M | 44 / 107 | 104 / 46 | 1M | 2M |
| Q2 2025 | 313 | 19M | 39 / 116 | 102 / 49 | 2M | 2M |
| Q1 2025 | 327 | 20M | 46 / 119 | 99 / 72 | 2M | 2M |
| Q4 2024 | 359 | 20M | 60 / 120 | 106 / 111 | 2M | 3M |
| Q3 2024 | 415 | 20M | 56 / 143 | 139 / 32 | 6M | 1M |
| Q2 2024 | 394 | 20M | 51 / 135 | 125 / 27 | 1M | 2M |
| Q1 2024 | 376 | 21M | 46 / 131 | 124 / 33 | 2M | 1M |
| Q4 2023 | 367 | 21M | 78 / 109 | 120 / 40 | 2M | 1M |
| Q3 2023 | 334 | 19M | 40 / 115 | 114 / 30 | 1M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of IIPR | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 1,733,915 | – | $107.47M | 0.10% | Jun 30, 2026 |
| Vanguard Real Estate Index Fund | 1,070,306 | – | $62.94M | 0.09% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 907,378 | – | $56.24M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 740,044 | – | $45.87M | 0.06% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 659,199 | – | $40.86M | 0.02% | Jun 30, 2026 |
| Vanguard Small-Cap Value Index Fund | 418,027 | – | $25.91M | 0.04% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 331,539 | – | $20.55M | 0.02% | Jun 30, 2026 |
| Invesco KBW Premium Yield Equity REIT ETF | 321,678 | – | $18.65M | 6.43% | May 31, 2026 |
| iShares Russell 2000 Value ETF | 273,132 | – | $16.93M | 0.12% | Jun 30, 2026 |
| Global X SuperDividend ETF | 264,966 | – | $15.58M | 1.28% | Jul 31, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 262,836 | – | $16.29M | 0.10% | Jun 30, 2026 |
| iShares S&P Small-Cap 600 Value ETF | 247,743 | – | $15.36M | 0.19% | Jun 30, 2026 |
| Schwab U.S. REIT ETF | 198,568 | – | $11.51M | 0.12% | May 31, 2026 |
| Vanguard Real Estate Ii Index Fund | 187,787 | – | $11.04M | 0.10% | Jul 31, 2026 |
| State Street(R) SPDR(R) S & P 600(TM) Small Cap Value ETF | 150,405 | – | $9.32M | 0.19% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| Paul E. Smithers | PRESIDENT, CEO AND DIRECTOR | 208,564 | Jun 23, 2026 |
| Alan D. Gold | EXECUTIVE CHAIRMAN, Director | 554,172 | Jun 23, 2026 |
| David Jon Smith | CFO AND TREASURER | 32,801 | Jun 23, 2026 |
| Andy Bui | VP, CHIEF ACCOUNTING OFFICER | 16,186 | Jan 21, 2026 |
| Brian J. Wolfe | VP, GEN. COUNSEL AND SECRETARY | 31,747 | Jan 3, 2025 |
| Scott Shoemaker | Director | 3,802 | Sep 17, 2026 |
| Bruce Alan Ives | Director | 3,180 | Sep 1, 2026 |
| David Gerard Boyle | Director | 2,951 | Jun 10, 2026 |
| Gary A. Kreitzer | Director | 89,911 | Dec 30, 2025 |
| David Stecher | Director | 3,218 | Mar 5, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Scott Shoemaker Director | Sep 15, 2026 | Sale | −611 | $56.36 | $34.44K | 2,000 |
| Bruce Alan Ives Director | Aug 31, 2026 | Buy | +528 | $56.70 | $29.94K | 3,180 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jun 19, 2026 | Award | +22,299 | – | – | 172,876 |
| David Jon Smith CFO AND TREASURER | Jun 19, 2026 | Award | +9,219 | – | – | 32,801 |
| Bruce Alan Ives Director | Jun 9, 2026 | Award | +2,652 | – | – | 2,652 |
| Andy Bui VP, CHIEF ACCOUNTING OFFICER | Jan 20, 2026 | Award | +6,522 | – | – | 16,186 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 20, 2026 | Award | +47,643 | – | – | 150,577 |
| David Jon Smith CFO AND TREASURER | Jan 20, 2026 | Award | +20,061 | – | – | 23,582 |
| Scott Shoemaker Director | Jan 2, 2026 | Option exercise | +911 | – | – | 2,611 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 2, 2026 | Tax withholding | −5,169 | $49.47 | $255.71K | 102,934 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 2, 2026 | Option exercise | +10,653 | – | – | 108,103 |
| Andy Bui VP, CHIEF ACCOUNTING OFFICER | Jan 1, 2026 | Tax withholding | −1,204 | $47.36 | $57.02K | 9,664 |
| David Jon Smith CFO AND TREASURER | Jan 1, 2026 | Tax withholding | −1,634 | $47.36 | $77.39K | 3,521 |
| David Jon Smith CFO AND TREASURER | Jan 1, 2026 | Option exercise | +4,555 | – | – | 5,155 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 1, 2026 | Tax withholding | −10,983 | $47.36 | $520.15K | 97,450 |
| Alan D. Gold EXECUTIVE CHAIRMAN, Director | Nov 24, 2025 | Buy | +2,600 | $49.09 | $127.63K | 2,600 |
| Alan D. Gold EXECUTIVE CHAIRMAN, Director | Nov 20, 2025 | Buy | +1,000 | $45.70 | $45.70K | 58,500 |
| David Jon Smith CFO AND TREASURER | Nov 20, 2025 | Buy | +600 | $45.90 | $27.54K | 600 |
| Alan D. Gold EXECUTIVE CHAIRMAN, Director | Nov 19, 2025 | Buy | +1,000 | $46.26 | $46.26K | 57,500 |
| Gary A. Kreitzer Director | Oct 15, 2025 | Award | +1,839.08 | $55.28 | $101.66K | 63,109 |
| Gary A. Kreitzer Director | Jul 15, 2025 | Award | +1,782.14 | $55.15 | $98.29K | 61,270 |
| Gary A. Kreitzer Director | Jun 11, 2025 | Award | +3,495 | – | – | 47,453 |
| David Gerard Boyle Director | Jun 11, 2025 | Award | +2,796 | – | – | 2,951 |
| Gary A. Kreitzer Director | Apr 15, 2025 | Award | +1,731.63 | $52.91 | $91.62K | 59,488 |
| David Stecher Director | Mar 3, 2025 | Sale | −7,599 | $70.55 | $536.11K | 1,346 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Feb 24, 2025 | Award | +32,457 | – | – | 108,433 |
| Andy Bui VP, CHIEF ACCOUNTING OFFICER | Feb 24, 2025 | Award | +4,785 | – | – | 10,868 |
| Gary A. Kreitzer Director | Jan 23, 2025 | Award | +1,306.61 | $68.23 | $89.15K | 57,756 |
| Andy Bui VP, CHIEF ACCOUNTING OFFICER | Jan 1, 2025 | Tax withholding | −672 | $66.64 | $44.78K | 6,083 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 1, 2025 | Tax withholding | −6,803 | $66.64 | $453.35K | 75,976 |
| Brian J. Wolfe VP, GEN. COUNSEL AND SECRETARY | Jan 1, 2025 | Tax withholding | −571 | $66.64 | $38.05K | 8,357 |
| Gary A. Kreitzer Director | Oct 15, 2024 | Award | +646.91 | $135.90 | $87.92K | 56,449 |
| Gary A. Kreitzer Director | Jul 15, 2024 | Award | +727.52 | $118.94 | $86.53K | 55,802 |
| Gary A. Kreitzer Director | May 15, 2024 | Award | +1,770 | – | – | 43,958 |
| David Stecher Director | May 15, 2024 | Award | +1,416 | – | – | 8,945 |
| Gary A. Kreitzer Director | Apr 15, 2024 | Award | +782.93 | $97.52 | $76.35K | 55,075 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 17, 2024 | Award | +27,231 | – | – | 82,779 |
| Andy Bui VP, CHIEF ACCOUNTING OFFICER | Jan 17, 2024 | Award | +2,181 | – | – | 6,755 |
| Gary A. Kreitzer Director | Jan 16, 2024 | Award | +801.98 | $93.39 | $74.90K | 54,292 |
| Andy Bui VP, CHIEF ACCOUNTING OFFICER | Jan 1, 2024 | Tax withholding | −517 | $100.82 | $52.12K | 4,574 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 1, 2024 | Tax withholding | −3,598 | $100.82 | $362.75K | 55,548 |
| Brian J. Wolfe VP, GEN. COUNSEL AND SECRETARY | Jan 1, 2024 | Tax withholding | −885 | $100.82 | $89.23K | 8,928 |
| David Stecher Director | Nov 15, 2023 | Sale | −2,500 | $80.76 | $201.90K | 7,529 |
| Gary A. Kreitzer Director | Oct 16, 2023 | Award | +747.46 | $77.76 | $58.12K | 53,490 |
| Gary A. Kreitzer Director | Jul 17, 2023 | Award | +739.36 | $76.81 | $56.79K | 52,742 |
| David Stecher Director | Jun 7, 2023 | Award | +2,247 | – | – | 10,029 |
| Gary A. Kreitzer Director | Jun 7, 2023 | Award | +2,808 | – | – | 42,188 |
| Gary A. Kreitzer Director | Apr 17, 2023 | Award | +771.53 | $71.81 | $55.40K | 52,003 |
| Mary A. Curran Director | Apr 12, 2023 | Small purchase | +22.42 | $187.91 | $4.21K | 2,429 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 18, 2023 | Award | +22,548 | – | – | 59,146 |
| Andy Bui VP, CHIEF ACCOUNTING OFFICER | Jan 18, 2023 | Award | +1,806 | – | – | 5,091 |
| Gary A. Kreitzer Director | Jan 17, 2023 | Award | +484.76 | $112.49 | $54.53K | 51,232 |
| Mary A. Curran Director | Jan 12, 2023 | Small purchase | +16.34 | $219.47 | $3.59K | 2,407 |
| Brian J. Wolfe VP, GEN. COUNSEL AND SECRETARY | Jan 1, 2023 | Tax withholding | −1,636 | $101.35 | $165.81K | 9,813 |
| Andy Bui VP, CHIEF ACCOUNTING OFFICER | Jan 1, 2023 | Tax withholding | −631 | $101.35 | $63.95K | 3,285 |
| Paul E. Smithers PRESIDENT, CEO AND DIRECTOR | Jan 1, 2023 | Tax withholding | −1,428 | $101.35 | $144.73K | 36,598 |
| Gary A. Kreitzer Director | Oct 17, 2022 | Award | +567.02 | $94.37 | $53.51K | 50,747 |
| Alan D. Gold EXECUTIVE CHAIRMAN, Director | Aug 12, 2022 | Buy | +1,000 | $97.79 | $97.79K | 213,308 |
| Alan D. Gold EXECUTIVE CHAIRMAN, Director | Aug 10, 2022 | Buy | +1,000 | $94.22 | $94.22K | 212,308 |
| Gary A. Kreitzer Director | Jul 18, 2022 | Award | +513.14 | $99.63 | $51.12K | 50,180 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| David Stecher Director | Feb 28, 2025 | 7,599 | $550.93K | Feb 28, 2025 | Stock Grants |
| David Stecher Director | Nov 15, 2023 | 2,500 | $199.20K | Nov 15, 2023 | Stock Plan |