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Shares Outstanding (EOP) are shares that have been authorized, issued, and purchased by investors and are held by them.
3-Year Share Buyback Ratio measures the average annual proportion of a company's outstanding shares repurchased over the past three years. It is calculated as the annualized percentage change in shares outstanding from three years ago to the current year. A positive ratio may indicate share buybacks over the period, while a zero or negative ratio may reflect no repurchases or potential share issuance. Innovative Industrial Properties's current 3-Year Share Buyback Ratio was -0.10%.
The historical rank and industry rank for Innovative Industrial Properties's 3-Year Share Buyback Ratio or its related term are showing as below:
IIPR'
s 3-Year Share Buyback Ratio Range Over the Past 10 Years
Min: -89.8 Med: -30.3 Max: -0.1
Current: -0.1
During the past 10 years, Innovative Industrial Properties's highest 3-Year Share Buyback Ratio was -0.10%. The lowest was -89.80%. And the median was -30.30%.
IIPR's 3-Year Share Buyback Ratio is ranked better than 81.17% of 600
companies
in the REITs industry
Industry Median: -2.9
vs IIPR: -0.10
Innovative Industrial Properties (NYSE:IIPR) 3-Year Share Buyback Ratio Explanation
A negative number means the company might be issuing new shares. A positive number indicates that the company is buying back shares.
Be Aware
Investors usually like share buybacks. But as pointed by Warren Buffett, only if a company buys back shares at the prices below the stock's intrinsic value, it rewards remaining shareholders. If a company buys its overvalued stocks back, it destroys shareholder value.
Innovative Industrial Properties 3-Year Share Buyback Ratio Related Terms
IIPR vs SMA, ILPT, NSA: 3-Year Share Buyback Ratio Comparison
For the REIT - Industrial subindustry, Innovative Industrial Properties's 3-Year Share Buyback Ratio, along with its competitors' market caps and 3-Year Share Buyback 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 3-Year Share Buyback Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Innovative Industrial Properties's 3-Year Share Buyback Ratio distribution charts can be found below:
* The bar in red indicates where Innovative Industrial Properties's 3-Year Share Buyback Ratio falls into.
Innovative Industrial Properties 3-Year Share Buyback Ratio Calculation
This is the annualized percentage change in shares outstanding from three years ago to the current year. The annualized percentage change is calculated with expontential compound based on the latest four years of annual data on Shares Outstanding (EOP).
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 Share Buyback Ratio of -0.10 mean?
Innovative Industrial Properties (IIPR) has a 3-Year Share Buyback Ratio of -0.10 as of Mar. 2026. The 3-Year Share Buyback Ratio measures the average annual proportion of a company's outstanding shares repurchased over the past three years. It is calculated as the annualized percentage change in shares outstanding from three years ago to the current year. View historical data for Innovative Industrial Properties and its competitors. According to the industry distribution chart, Innovative Industrial Properties ranks #113 out of 600 companies in the REITs industry, placing it in the top 18.8%.
Is Innovative Industrial Properties' 3-Year Share Buyback Ratio too high?
Innovative Industrial Properties' current 3-Year Share Buyback Ratio is -0.10. Based on the distribution chart, Innovative Industrial Properties ranks #113 out of 600 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. 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 Share Buyback Ratio compare to SMA and ILPT?
According to the REITs industry distribution chart, Innovative Industrial Properties ranks #113 out of 600 companies for 3-Year Share Buyback Ratio. This places Innovative Industrial Properties in the top 19% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year Share Buyback Ratio for a REITs company?
A good 3-Year Share Buyback Ratio depends on the REITs industry context. However, 3-Year Share Buyback Ratio 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 Share Buyback Ratio mean?
A high 3-Year Share Buyback Ratio can signal that a stock is expensive relative to its fundamentals. The 3-Year Share Buyback Ratio measures the average annual proportion of a company's outstanding shares repurchased over the past three years. It is calculated as the annualized percentage change in shares outstanding from three years ago to the current year. View historical data for Innovative Industrial Properties and its competitors. Innovative Industrial Properties's current 3-Year Share Buyback Ratio is -0.10. 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 $60.78 — trading 6.4% below its estimated fair value. The current 3-Year Share Buyback Ratio is -0.10. 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 Share Buyback Ratio calculated?
3-Year Share Buyback Ratio is calculated from a company's financial statements. For Innovative Industrial Properties (IIPR), the current 3-Year Share Buyback Ratio is -0.10 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 $60.78 is trading 6.4% below its estimated GF Value™ of $64.94.
GuruFocus considers Innovative Industrial Properties to be Fairly Valued.
Key valuation signals for IIPR:
3-Year Share Buyback Ratio: -0.10
GF Value™: $64.94 vs. price of $60.78 (6.4% 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 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 Share Buyback Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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