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During the past 12 months, Innovative Industrial Properties's average Book Value per Share Growth Rate was -5.20% per year.
During the past 3 years, the average Book Value per Share Growth Rate was -2.70% per year.
During the past 5 years, the average Book Value per Share Growth Rate was 0.90% per year.
Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the average Book Value per Share growth rate.
During the past 10 years, the highest 3-Year average Book Value per Share Growth Rate of Innovative Industrial Properties was 54.80% per year. The lowest was -2.70% per year. And the median was 18.10% per year.
Innovative Industrial Properties (NYSE:IIPR) 3-Year Book Growth Rate Explanation
Book Value per Share is the ratio of equity available to common shareholders divided by the shares outstanding. Book value per share effectively indicates a firm's net asset value on a per-share basis. It can be used by investors to gauge whether a stock price is undervalued by comparing it to the firm's market value per share. Theoretically, it is what the shareholders will receive if the company is liquidated.
Innovative Industrial Properties 3-Year Book Growth Rate Related Terms
IIPR vs SMA, ILPT, NSA: 3-Year Book Growth Rate Comparison
For the REIT - Industrial subindustry, Innovative Industrial Properties's 3-Year Book Growth Rate, along with its competitors' market caps and 3-Year Book Growth Rate data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Innovative Industrial Properties 3-Year Book Growth Rate vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's 3-Year Book Growth Rate distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's 3-Year Book Growth Rate falls into.
Innovative Industrial Properties 3-Year Book Growth Rate Calculation
This is the 3-year average growth rate of Book Value per Share. The growth rate is calculated using exponential compounding based on the latest four year annual data.
Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the average Book Value per Share growth rate.
What does a 3-Year Book Growth Rate of -2.70% mean?
Innovative Industrial Properties (IIPR) has a 3-Year Book Growth Rate of -2.70% as of Mar. 2026. 3-Year Book Growth Rate is the 3-year average growth rate of Book Value per Share. View historical data for Innovative Industrial Properties and its competitors. According to the industry distribution chart, Innovative Industrial Properties ranks #542 out of 835 companies in the REITs industry, placing it in the top 64.9%.
Is Innovative Industrial Properties' 3-Year Book Growth Rate too high?
Innovative Industrial Properties' current 3-Year Book Growth Rate is -2.70%. Based on the distribution chart, Innovative Industrial Properties ranks #542 out of 835 companies in the REITs industry, which is below the industry midpoint. Overall, Innovative Industrial Properties has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Innovative Industrial Properties' 3-Year Book Growth Rate compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #542 out of 835 companies for 3-Year Book Growth Rate. This places Innovative Industrial Properties in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year Book Growth Rate for a REITs company?
A good 3-Year Book Growth Rate depends on the REITs industry context. However, 3-Year Book Growth Rate should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year Book Growth Rate mean?
A high 3-Year Book Growth Rate can signal that a stock is expensive relative to its fundamentals. 3-Year Book Growth Rate is the 3-year average growth rate of Book Value per Share. View historical data for Innovative Industrial Properties and its competitors. Innovative Industrial Properties's current 3-Year Book Growth Rate is -2.70%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Innovative Industrial Properties stock overvalued right now?
Based on GuruFocus' analysis, Innovative Industrial Properties (IIPR) is currently considered Fairly Valued. The stock's GF Value™ is $64.94, compared to a current price of $60.58 — trading 6.7% below its estimated fair value. The current 3-Year Book Growth Rate is -2.70%. Innovative Industrial Properties' overall GF Score™ is 78/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year Book Growth Rate calculated?
3-Year Book Growth Rate is calculated from a company's financial statements. For Innovative Industrial Properties (IIPR), the current 3-Year Book Growth Rate is -2.70% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Innovative Industrial Properties (IIPR) Overvalued in 2026?
Based on GuruFocus' analysis, Innovative Industrial Properties stock appears to be undervalued.
The current stock price of $60.58 is trading 6.7% below its estimated GF Value™ of $64.94.
GuruFocus considers Innovative Industrial Properties to be Fairly Valued.
Key valuation signals for IIPR:
3-Year Book Growth Rate: -2.70%
GF Value™: $64.94 vs. price of $60.58 (6.7% below fair value)
No single metric tells the full story. See the IIPR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Innovative Industrial Properties Business Description
Innovative Industrial Properties Inc is a real estate investment trust focused on the acquisition, ownership and management of specialized industrial and commercial properties in the United States. Its properties are prominently leased to state-licensed operators for their regulated cannabis facilities. The company conducts its business through a traditional umbrella partnership real estate investment trust, or UPREIT structure, in which properties are owned by its Operating Partnership, directly or through subsidiaries. Its segments are: Cannabis Portfolio and Life Science Portfolio, with the majority of revenue coming from the Cannabis Portfolio segment, which involves acquiring, developing, and leasing real estate to regulated cannabis operators on long-term triple-net leases.
78GF Score
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3-Year Book Growth Rate is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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