Innovative Industrial Properties (NYSE:IIPR) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Innovative Industrial Properties Forward PE Ratio Related Terms
Innovative Industrial Properties Forward PE 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.
Innovative Industrial Properties Forward PE Ratio Chart
Innovative Industrial Properties Annual Data
Trend
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
23.92
18.66
28.90
42.74
18.18
17.57
13.17
12.39
Innovative Industrial Properties Quarterly Data
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
26.81
23.92
44.44
74.63
40.32
18.66
22.32
23.15
22.37
28.90
38.31
42.02
34.84
42.74
32.79
19.53
13.66
18.18
13.97
12.56
13.14
17.57
17.09
15.63
21.32
13.17
12.82
12.72
14.15
12.39
11.65
IIPR vs SMA, ILPT, LXP: Forward PE Ratio Comparison
For the REIT - Industrial subindustry, Innovative Industrial Properties's Forward PE Ratio, along with its competitors' market caps and Forward PE 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 Forward PE Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's Forward PE Ratio falls into.
Innovative Industrial Properties Forward PE Ratio Calculation
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Innovative Industrial Properties (IIPR) has a Forward PE Ratio of 15.19 as of Jun. 30, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Innovative Industrial Properties and its competitors. According to the industry distribution chart, Innovative Industrial Properties ranks #213 out of 463 companies in the REITs industry, placing it in the top 46%.
Is Innovative Industrial Properties' Forward PE Ratio too high?
Innovative Industrial Properties' current Forward PE Ratio is 15.19. The REITs industry median Forward PE Ratio is 16.34. Innovative Industrial Properties' value of 15.19 is 7% below this industry median. Based on the distribution chart, Innovative Industrial Properties ranks #213 out of 463 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' Forward PE Ratio compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #213 out of 463 companies for Forward PE Ratio. This puts Innovative Industrial Properties in the upper half of its industry. The industry median Forward PE Ratio is 16.34. Innovative Industrial Properties' value of 15.19 is 7% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a REITs company?
The median Forward PE Ratio among REITs companies is 16.34, based on 463 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Innovative Industrial Properties's current Forward PE Ratio of 15.19 is 7% 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Innovative Industrial Properties and its competitors. For the REITs industry, the median Forward PE Ratio is 16.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Innovative Industrial Properties's current Forward PE Ratio is 15.19. 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 $64.70, compared to a current price of $63.26 — trading 2.2% below its estimated fair value. The current Forward PE Ratio is 15.19 and 7% below the REITs industry median of 16.34. 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 Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Innovative Industrial Properties (IIPR), the current Forward PE Ratio is 15.19 as of Jun. 30, 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 $63.26 is trading 2.2% below its estimated GF Value™ of $64.70.
GuruFocus considers Innovative Industrial Properties to be Fairly Valued.
Key valuation signals for IIPR:
Forward PE Ratio: 15.19
GF Value™: $64.70 vs. price of $63.26 (2.2% below fair value)
Industry Position: 7% below the REITs median (#213 of 463)
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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