Innovative Industrial PropertiesIIPRPA.PFD -0.72%77 Interest Coverage is 5.05 as of Mar. 2026, which is 53% below its 10-year median of 10.67. GuruFocus rates IIPRPA.PFD with a GF Score™ of 77/100. The stock has 12 warning signs investors should review. Among 699 REITs companies, Innovative Industrial Properties ranks better than 68.24% on this metric.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's
Operating Income
by its Interest Expense. Innovative Industrial Properties's
Operating Income
for the
three
months ended in Mar. 2026 was $32.49 Mil. Innovative Industrial Properties's Interest Expense for the
three
months ended in Mar. 2026 was $-6.43 Mil.
Innovative Industrial Properties's interest coverage for the quarter that ended in Mar. 2026 was 5.05.
The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for Innovative Industrial Properties's Interest Coverage or its related term are showing as below:
IIPRpA.PFD'
s Interest Coverage Range Over the Past 10 Years
Min: 4.51 Med: 10.67 Max: No Debt
Current: 5.95
IIPRpA.PFD's Interest Coverage is ranked better than 68.24% of 699
companies
in the REITs industry
Industry Median: 3.11
vs IIPRpA.PFD: 5.95
Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.
Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .
Innovative Industrial Properties Interest Coverage Related Terms
Innovative Industrial Properties Interest Coverage 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.
Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
IIPRPA.PFD vs SMA, ILPT, LXP: Interest Coverage Comparison
For the REIT - Industrial subindustry, Innovative Industrial Properties's Interest Coverage, along with its competitors' market caps and Interest Coverage 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 Interest Coverage vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's Interest Coverage falls into.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
* 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 (IIPRPA.PFD) has a Interest Coverage of 5.05 as of Mar. 2026. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Innovative Industrial Properties and its competitors. This is 53% below median its historical median of 10.67. Over the past decade, Innovative Industrial Properties' Interest Coverage has ranged from 4.51 to 10,000.00. According to the industry distribution chart, Innovative Industrial Properties ranks #222 out of 699 companies in the REITs industry, placing it in the top 31.8%.
Is Innovative Industrial Properties' Interest Coverage too high?
Innovative Industrial Properties' current Interest Coverage of 5.05 is 53% below median its 10-year median of 10.67. Over the past 10 years, this metric has ranged from a low of 4.51 to a high of 10,000.00. The REITs industry median Interest Coverage is 3.11. Innovative Industrial Properties' value of 5.05 is 62.4% above this industry median. Based on the distribution chart, Innovative Industrial Properties ranks #222 out of 699 companies in the REITs industry, which is above the industry midpoint. Overall, Innovative Industrial Properties has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.
How does Innovative Industrial Properties' Interest Coverage compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #222 out of 699 companies for Interest Coverage. This puts Innovative Industrial Properties in the upper half of its industry. The industry median Interest Coverage is 3.11. Innovative Industrial Properties' value of 5.05 is 62.4% above this benchmark. Historically, Innovative Industrial Properties' own Interest Coverage has ranged from 4.51 to 10,000.00 over the past decade. While the company's 10-year median is 10.67 vs. the industry median of 3.11, 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 Interest Coverage for a REITs company?
The median Interest Coverage among REITs companies is 3.11, based on 699 companies in the industry. Companies in the top quartile (top 25%) have a Interest Coverage significantly above this median, while those in the bottom quartile fall well below. However, Interest Coverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Innovative Industrial Properties's current Interest Coverage of 5.05 is 62.4% 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 Interest Coverage mean?
A high Interest Coverage can signal that a stock is expensive relative to its fundamentals. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Innovative Industrial Properties and its competitors. For the REITs industry, the median Interest Coverage is 3.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Innovative Industrial Properties's current Interest Coverage is 5.05, which is 53% below median its own 10-year median of 10.67. 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?
Innovative Industrial Properties (IIPRPA.PFD) has a current Interest Coverage of 5.05. The current Interest Coverage is 5.05, which is 53% below median its 10-year median of 10.67 and 62.4% above the REITs industry median of 3.11. 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 Interest Coverage calculated?
Interest Coverage is calculated from a company's financial statements. For Innovative Industrial Properties (IIPRPA.PFD), the current Interest Coverage is 5.05 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.
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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