Innovative Industrial Properties has a Cash Ratio of 0.45. It indicates that there are more current liabilities than Cash, Cash Equivalents, Marketable Securities, and the company does not have sufficient cash on hand to pay off its short-term debt.
The historical rank and industry rank for Innovative Industrial Properties's Cash Ratio or its related term are showing as below:
IIPR'
s Cash Ratio Range Over the Past 10 Years
Min: 0.21 Med: 1.08 Max: 13.64
Current: 0.45
During the past 10 years, Innovative Industrial Properties's highest Cash Ratio was 13.64. The lowest was 0.21. And the median was 1.08.
IIPR's Cash Ratio is ranked better than 55.97% of 745
companies
in the REITs industry
Industry Median: 0.36
vs IIPR: 0.45
Innovative Industrial Properties (NYSE:IIPR) Cash Ratio Explanation
The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.
The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.
In general, the higher the cash ratio, the better the company's liquidity position.
Innovative Industrial Properties Cash Ratio Related Terms
Innovative Industrial Properties Cash Ratio Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Industrial subindustry, Innovative Industrial Properties's Cash Ratio, along with its competitors' market caps and Cash Ratio 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 Cash Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's Cash Ratio distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's Cash Ratio falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Innovative Industrial Properties (IIPR) has a Cash Ratio of 0.45 as of Mar. 2026. Cashflow ratio is the ratio of Cash, Cash Equivalents, Marketable Securities to current liabilities. View historical data on Innovative Industrial Properties and its competitors. This is 58% below median its historical median of 1.08. Over the past decade, Innovative Industrial Properties' Cash Ratio has ranged from 0.21 to 13.64. According to the industry distribution chart, Innovative Industrial Properties ranks #328 out of 745 companies in the REITs industry, placing it in the top 44%.
Is Innovative Industrial Properties' Cash Ratio too high?
Innovative Industrial Properties' current Cash Ratio of 0.45 is 58% below median its 10-year median of 1.08. Over the past 10 years, this metric has ranged from a low of 0.21 to a high of 13.64. The REITs industry median Cash Ratio is 0.36. Innovative Industrial Properties' value of 0.45 is 25% above this industry median. Based on the distribution chart, Innovative Industrial Properties ranks #328 out of 745 companies in the REITs industry, which is above the industry midpoint. Overall, Innovative Industrial Properties has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Innovative Industrial Properties' Cash Ratio compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #328 out of 745 companies for Cash Ratio. This puts Innovative Industrial Properties in the upper half of its industry. The industry median Cash Ratio is 0.36. Innovative Industrial Properties' value of 0.45 is 25% above this benchmark. Historically, Innovative Industrial Properties' own Cash Ratio has ranged from 0.21 to 13.64 over the past decade. While the company's 10-year median is 1.08 vs. the industry median of 0.36, Innovative Industrial Properties has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Ratio for a REITs company?
The median Cash Ratio among REITs companies is 0.36, based on 745 companies in the industry. Companies in the top quartile (top 25%) have a Cash Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cash Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Innovative Industrial Properties's current Cash Ratio of 0.45 is 25% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Ratio mean?
A high Cash Ratio can signal that a stock is expensive relative to its fundamentals. Cashflow ratio is the ratio of Cash, Cash Equivalents, Marketable Securities to current liabilities. View historical data on Innovative Industrial Properties and its competitors. For the REITs industry, the median Cash Ratio is 0.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Innovative Industrial Properties's current Cash Ratio is 0.45, which is 58% below median its own 10-year median of 1.08. 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 $64.75, compared to a current price of $63.36 — trading 2.1% below its estimated fair value. The current Cash Ratio is 0.45, which is 58% below median its 10-year median of 1.08 and 25% above the REITs industry median of 0.36. Innovative Industrial Properties' overall GF Score™ is 77/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Ratio calculated?
Cash Ratio is calculated from a company's financial statements. For Innovative Industrial Properties (IIPR), the current Cash Ratio is 0.45 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 $63.36 is trading 2.1% below its estimated GF Value™ of $64.75.
GuruFocus considers Innovative Industrial Properties to be Fairly Valued.
Key valuation signals for IIPR:
Cash Ratio: 0.45 (58% below median its 10-year median of 1.08)
GF Value™: $64.75 vs. price of $63.36 (2.1% below fair value)
Industry Position: 25% above the REITs median (#328 of 745)
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.
77GF Score
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