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The historical rank and industry rank for Innovative Industrial Properties's 3-Year Dividend Growth Rate or its related term are showing as below:
IIPR'
s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 2.3 Med: 26.6 Max: 101.1
Current: 2.3
During the past 10 years, the highest 3-Year average Dividends Per Share Growth Rate of Innovative Industrial Properties was 101.10% per year. The lowest was 2.30% per year. And the median was 26.60% per year.
IIPR's 3-Year Dividend Growth Rate is ranked worse than 51.6% of 626
companies
in the REITs industry
Industry Median: 2.7
vs IIPR: 2.30
During the past 3 years, the average Dividends Per Share Growth Rate was 2.30% per year.
During the past 5 years, the average Dividends Per Share Growth Rate was 10.50% 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 dividends per share growth rate.
If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Innovative Industrial Properties Inc is 1.94, which seems too high.
Warning Sign:
Innovative Industrial Properties Inc stock Dividend Yield % is close to 1-year low.
For more information regarding to dividend, please check our Dividend Page.
During the past 10 years, the highest Dividend Payout Ratio of Innovative Industrial Properties was 1.94. The lowest was 1.25. And the median was 1.35.
Warning Sign:
If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Innovative Industrial Properties Inc is 1.94, which seems too high.
2. Dividend Yield % measures how much a company pays out in dividends each year relative to its share price.
Innovative Industrial Properties Recent Full-Year* Dividend History
Amount
Ex-date
Record Date
Pay Date
Type
Frequency
Forex Rate
USD 1.900000
2026-06-30
2026-06-30
2026-07-15
Cash Dividend
quarterly
USD:USD 1.000000
USD 1.900000
2026-03-31
2026-03-31
2026-04-15
Cash Dividend
quarterly
USD:USD 1.000000
USD 1.900000
2025-12-31
2025-12-31
2026-01-15
Cash Dividend
quarterly
USD:USD 1.000000
USD 1.900000
2025-09-30
2025-09-30
2025-10-15
Cash Dividend
quarterly
USD:USD 1.000000
* GuruFocus has an internal rule that if the most recent dividend payment frequency is at least 4 times a year, then the full year will be calculated according to the frequency of payment or the one-year time frame, whichever is stricter.
* GuruFocus converts dividend currency to local traded share price currency in order to calculate dividend yield. Please refer to the last column "Forex Rate" in the above table.
Innovative Industrial Properties's Dividend Yield (%) for Today is calculated as
Current Share Price is $58.81.
Innovative Industrial Properties's Dividends per Share for the trailing twelve months (TTM) ended in Today is $7.6.
During the past 10 years, the highest Dividend Yield of Innovative Industrial Properties was 16.63%. The lowest was 0.80%. And the median was 3.97%.
Warning Sign:
Innovative Industrial Properties Inc stock Dividend Yield % is close to 1-year low.
* 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 3-Year Dividend Growth Rate Related Terms>
IIPR vs SMA, ILPT, NSA: 3-Year Dividend Growth Rate Comparison
For the REIT - Industrial subindustry, Innovative Industrial Properties's 3-Year Dividend Growth Rate, along with its competitors' market caps and 3-Year Dividend 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 Dividend Growth Rate vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's 3-Year Dividend Growth Rate distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's 3-Year Dividend Growth Rate falls into.
This is the average annual rate that a company has been raising its dividends. The growth rate is calculated with expontential compound 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 dividends per share growth rate.
What does a 3-Year Dividend Growth Rate of 2.30% mean?
Innovative Industrial Properties (IIPR) has a 3-Year Dividend Growth Rate of 2.30% as of Mar. 2026. 3-Year Dividend Growth Rate is the company's three-year average growth of dividend payout. View historical data on Innovative Industrial Properties and its competitors. This is 91% below median its historical median of 26.60. Over the past decade, Innovative Industrial Properties' 3-Year Dividend Growth Rate has ranged from 2.30 to 101.10. According to the industry distribution chart, Innovative Industrial Properties ranks #323 out of 626 companies in the REITs industry, placing it in the top 51.6%.
Is Innovative Industrial Properties' 3-Year Dividend Growth Rate too high?
Innovative Industrial Properties' current 3-Year Dividend Growth Rate of 2.30% is 91% below median its 10-year median of 26.60. Over the past 10 years, this metric has ranged from a low of 2.30 to a high of 101.10. The REITs industry median 3-Year Dividend Growth Rate is 2.70. Innovative Industrial Properties' value of 2.30% is 14.8% below this industry median. Based on the distribution chart, Innovative Industrial Properties ranks #323 out of 626 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 Dividend Growth Rate compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #323 out of 626 companies for 3-Year Dividend Growth Rate. This places Innovative Industrial Properties in the lower half of its industry. The industry median 3-Year Dividend Growth Rate is 2.70. Innovative Industrial Properties' value of 2.30% is 14.8% below this benchmark. Historically, Innovative Industrial Properties' own 3-Year Dividend Growth Rate has ranged from 2.30 to 101.10 over the past decade. While the company's 10-year median is 26.60 vs. the industry median of 2.70, Innovative Industrial Properties has consistently been below 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 3-Year Dividend Growth Rate for a REITs company?
The median 3-Year Dividend Growth Rate among REITs companies is 2.70, based on 626 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year Dividend Growth Rate significantly above this median, while those in the bottom quartile fall well below. However, 3-Year Dividend Growth Rate should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Innovative Industrial Properties's current 3-Year Dividend Growth Rate of 2.30% is 14.8% below 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 3-Year Dividend Growth Rate mean?
A high 3-Year Dividend Growth Rate can signal that a stock is expensive relative to its fundamentals. 3-Year Dividend Growth Rate is the company's three-year average growth of dividend payout. View historical data on Innovative Industrial Properties and its competitors. For the REITs industry, the median 3-Year Dividend Growth Rate is 2.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Innovative Industrial Properties's current 3-Year Dividend Growth Rate is 2.30%, which is 91% below median its own 10-year median of 26.60. 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 $64.95, compared to a current price of $58.81 — trading 9.5% below its estimated fair value. The current 3-Year Dividend Growth Rate is 2.30%, which is 91% below median its 10-year median of 26.60 and 14.8% below the REITs industry median of 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 Dividend Growth Rate calculated?
3-Year Dividend Growth Rate is calculated from a company's financial statements. For Innovative Industrial Properties (IIPR), the current 3-Year Dividend Growth Rate is 2.30% 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 $58.81 is trading 9.5% below its estimated GF Value™ of $64.95.
GuruFocus considers Innovative Industrial Properties to be Fairly Valued.
Key valuation signals for IIPR:
3-Year Dividend Growth Rate: 2.30% (91% below median its 10-year median of 26.60)
GF Value™: $64.95 vs. price of $58.81 (9.5% below fair value)
Industry Position: 14.8% below the REITs median (#323 of 626)
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 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
Get the complete analysis for IIPR
3-Year Dividend Growth Rate is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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