Innovative Industrial Properties (NYSE: IIPR) is one of 15 publicly-traded companies in the “Specialized REITs” industry, but how does it weigh in compared to its peers? We will compare Innovative Industrial Properties to related companies based on the strength of its profitability, earnings, analyst recommendations, risk, dividends, valuation and institutional ownership.

Insider and Institutional Ownership

8.6% of Innovative Industrial Properties shares are owned by institutional investors. Comparatively, 65.5% of shares of all “Specialized REITs” companies are owned by institutional investors. 10.6% of Innovative Industrial Properties shares are owned by company insiders. Comparatively, 6.3% of shares of all “Specialized REITs” companies are owned by company insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a company will outperform the market over the long term.

Dividends

Innovative Industrial Properties pays an annual dividend of $1.00 per share and has a dividend yield of 3.4%. Innovative Industrial Properties pays out -158.7% of its earnings in the form of a dividend. As a group, “Specialized REITs” companies pay a dividend yield of 4.6% and pay out 203.4% of their earnings in the form of a dividend.

Analyst Ratings

This is a summary of recent ratings for Innovative Industrial Properties and its peers, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Innovative Industrial Properties 0 0 1 0 3.00
Innovative Industrial Properties Competitors 33 256 654 24 2.69

Innovative Industrial Properties currently has a consensus price target of $23.00, indicating a potential downside of 21.82%. As a group, “Specialized REITs” companies have a potential upside of 114.23%. Given Innovative Industrial Properties’ peers higher probable upside, analysts clearly believe Innovative Industrial Properties has less favorable growth aspects than its peers.

Profitability

This table compares Innovative Industrial Properties and its peers’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Innovative Industrial Properties -108.39% -8.09% -7.47%
Innovative Industrial Properties Competitors 25.87% 7.30% 2.55%

Valuation & Earnings

This table compares Innovative Industrial Properties and its peers top-line revenue, earnings per share (EPS) and valuation.

Gross Revenue Net Income Price/Earnings Ratio
Innovative Industrial Properties $320,000.00 -$4.39 million -46.70
Innovative Industrial Properties Competitors $957.09 million $112.54 million 58.32

Innovative Industrial Properties’ peers have higher revenue and earnings than Innovative Industrial Properties. Innovative Industrial Properties is trading at a lower price-to-earnings ratio than its peers, indicating that it is currently more affordable than other companies in its industry.

Summary

Innovative Industrial Properties peers beat Innovative Industrial Properties on 10 of the 14 factors compared.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc. is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases. It is focused on leasing its properties on a triple-net lease basis, where the tenant is responsible for all aspects of and costs related to the property and its operation during the lease term, including maintenance, taxes and insurance. The Company intends to conduct business in an umbrella partnership real estate investment trust (UPREIT), structure through its operating partnership. The Company’s real estate investments will consist of primarily properties suitable for cultivation and production of medical-use cannabis.

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