Innovative Industrial Properties, Inc.

DB:1IK Stock Report

Market Cap: €1.9b

Innovative Industrial Properties Valuation

Is 1IK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 1IK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€195.14
Fair Value
66.9% undervalued intrinsic discount
6
Number of Analysts

Below Fair Value: 1IK (€64.64) is trading below our estimate of fair value (€195.14)

Significantly Below Fair Value: 1IK is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1IK?

Key metric: As 1IK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 1IK. This is calculated by dividing 1IK's market cap by their current earnings.
What is 1IK's PE Ratio?
PE Ratio12.1x
EarningsUS$159.63m
Market CapUS$1.93b

Price to Earnings Ratio vs Peers

How does 1IK's PE Ratio compare to its peers?

The above table shows the PE ratio for 1IK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average31.9x
HABA Hamborner REIT
63x9.5%€515.7m
3471 Mitsui Fudosan Logistics Park
36.8x28.3%JP¥321.0b
MONT Montea Comm. VA
9.5x-1.2%€1.5b
3249 Industrial & Infrastructure Fund Investment
18.4x2.1%JP¥291.7b
1IK Innovative Industrial Properties
12.1x-5.8%€1.9b

Price-To-Earnings vs Peers: 1IK is good value based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (31.9x).

Price to Earnings Ratio vs Industry

How does 1IK's PE Ratio compare vs other companies in the Global Industrial REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
1IK 12.1xIndustry Avg. 18.9xNo. of Companies10PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 1IK is good value based on its Price-To-Earnings Ratio (12.1x) compared to the Global Industrial REITs industry average (18.9x).

Price to Earnings Ratio vs Fair Ratio

What is 1IK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

1IK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.1x
Fair PE Ratio50x

Price-To-Earnings vs Fair Ratio: 1IK is good value based on its Price-To-Earnings Ratio (12.1x) compared to the estimated Fair Price-To-Earnings Ratio (50x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 1IK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€64.64
€105.22
+62.8%
36.4%€172.00€67.26n/a6
Jan ’26€65.92
€105.22
+59.6%
36.4%€172.00€67.26n/a6
Dec ’25€102.85
€126.33
+22.8%
17.3%€167.01€107.30n/a5
Nov ’25€118.25
€124.24
+5.1%
17.1%€163.77€105.21n/a5
Oct ’25€120.90
€124.24
+2.8%
17.1%€163.77€105.21n/a5
Sep ’25€111.30
€124.24
+11.6%
17.1%€163.77€105.21n/a5
Aug ’25€113.10
€120.15
+6.2%
20.3%€164.43€101.05n/a5
Jul ’25€100.50
€115.70
+15.1%
21.2%€164.63€101.17n/a5
Jun ’25€98.34
€115.70
+17.7%
21.2%€164.63€101.17n/a5
May ’25€91.68
€113.55
+23.8%
24.1%€167.42€93.53n/a5
Apr ’25€96.60
€110.89
+14.8%
24.1%€163.50€91.34n/a5
Mar ’25€90.60
€108.34
+19.6%
28.2%€165.18€73.82n/a5
Feb ’25€86.00
€99.09
+15.2%
34.4%€164.54€73.54n/a5
Jan ’25€92.50
€99.09
+7.1%
34.4%€164.54€73.54€65.925
Dec ’24€74.45
€100.73
+35.3%
34.4%€167.26€74.75€102.855
Nov ’24€68.30
€102.81
+50.5%
33.8%€169.14€75.59€118.255
Oct ’24€69.95
€101.48
+45.1%
33.8%€166.95€74.62€120.905
Sep ’24€80.30
€100.35
+25.0%
33.2%€163.59€73.11€111.305
Aug ’24€71.70
€102.34
+42.7%
33.2%€166.85€74.57€113.105
Jul ’24€67.15
€102.34
+52.4%
33.2%€166.85€74.57€100.505
Jun ’24€61.90
€102.34
+65.3%
33.2%€166.85€74.57€98.345
May ’24€61.50
€122.48
+99.2%
20.2%€163.37€88.53€91.685
Apr ’24€69.36
€130.18
+87.7%
15.7%€167.88€112.55€96.605
Mar ’24€79.42
€130.18
+63.9%
15.7%€167.88€112.55€90.605
Feb ’24€81.34
€134.12
+64.9%
12.3%€164.66€114.99€86.005
Jan ’24€94.22
€158.77
+68.5%
12.6%€192.30€137.35€92.506
Analyst Price Target
Consensus Narrative from 6 Analysts
€103.92
Fair Value
37.8% undervalued intrinsic discount
6
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/20 12:58
End of Day Share Price 2025/01/17 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Innovative Industrial Properties, Inc. is covered by 11 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Aaron GreyAlliance Global Partners
William CatherwoodBTIG
Michael GormanBTIG