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Innovative Industrial Properties, Inc. IIPR Construction in progress

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Other financials

Income statement

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Revenue$69.0M-3.8%
Operating income$32.9M-3.1%
Net income$32.8M+5.6%
EPS (diluted)$1.02-1.0%

Balance sheet

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Cash & equivalents$89.1M-30.4%
Total debt$570.0K-99.8%
Total equity$1.9B-1.4%
Total assets$2.4B+1.8%

Cash flow

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Operating cash flow$56.0M+3.3%

Valuation

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Market cap$1.72B+25.7%
P/E14.3×+4.4×
P/S6.5×+1.8×

Profitability

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Operating margin46.8%-5.8pp
Net margin45.6%-4.7pp

Returns & leverage

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Return on equity6.3%-1.6pp
Debt / equity0×-0.1×

Where this comes from

Reported directly by Innovative Industrial Properties, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ConstructionInProgressGross.

The source filing: Innovative Industrial Properties, Inc.’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:11 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001677576-26-000002
AssetsMarch 31, 2026December 31, 2025
Real estate, at cost:
Land$145,104$146,320
Buildings and improvements2,269,4392,269,597
Construction in progress40,31140,593
Total real estate, at cost2,454,8542,456,510
Less accumulated depreciation(361,093)(343,062)
Net real estate held for investment2,093,7612,113,448
Life science investments153,980152,665

Item 1. Financial Statements (Unaudited)

FAQ

What is Innovative Industrial Properties, Inc.'s construction in progress?
Innovative Industrial Properties, Inc. (IIPR) reported construction in progress of $40.31M in Q1 2026.
How has Innovative Industrial Properties, Inc.'s construction in progress changed year-over-year?
Innovative Industrial Properties, Inc.'s construction in progress decreased by 33.4% year-over-year, from $60.49M to $40.31M.
What is the long-term trend for Innovative Industrial Properties, Inc.'s construction in progress?
Over 3 years (2022 to 2025), Innovative Industrial Properties, Inc.'s construction in progress has grown at a -9.1% compound annual growth rate (CAGR), from $54.11M to $40.59M.
What does construction in progress mean?
Costs accumulated for facilities, equipment, or infrastructure projects under construction — not yet placed in service or generating revenue.

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