Innovative Industrial Properties Valuation
Is IIPR undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation 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 IIPR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: IIPR ($105.3) is trading below our estimate of fair value ($219.28)
Significantly Below Fair Value: IIPR is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for IIPR?
Key metric: As IIPR is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is IIPR's PE Ratio? | |
|---|---|
| PE Ratio | 18.7x |
| Earnings | US$159.63m |
| Market Cap | US$3.01b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 10.2x |
| Enterprise Value/EBITDA | 12.9x |
| PEG Ratio | 8.2x |
Price to Earnings Ratio vs Peers
How does IIPR's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 58.5x | ||
LXP LXP Industrial Trust | 138.5x | -95.5% | US$2.7b |
TRNO Terreno Realty | 36.2x | 9.9% | US$6.0b |
STAG STAG Industrial | 36.5x | 1.3% | US$6.7b |
FR First Industrial Realty Trust | 22.7x | -6.1% | US$7.2b |
IIPR Innovative Industrial Properties | 18.7x | 2.3% | US$3.0b |
Price-To-Earnings vs Peers: IIPR is good value based on its Price-To-Earnings Ratio (18.7x) compared to the peer average (58.5x).
Price to Earnings Ratio vs Industry
How does IIPR's PE Ratio compare vs other companies in the Global Industrial REITs Industry?
| 2 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 2 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: IIPR is good value based on its Price-To-Earnings Ratio (18.7x) compared to the Global Industrial REITs industry average (20.1x).
Price to Earnings Ratio vs Fair Ratio
What is IIPR'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 18.7x |
| Fair PE Ratio | 33.7x |
Price-To-Earnings vs Fair Ratio: IIPR is good value based on its Price-To-Earnings Ratio (18.7x) compared to the estimated Fair Price-To-Earnings Ratio (33.7x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | US$105.30 | US$135.40 +28.6% | 17.3% | US$179.00 | US$115.00 | n/a | 5 |
| Nov ’25 | US$127.00 | US$135.80 +6.9% | 17.1% | US$179.00 | US$115.00 | n/a | 5 |
| Oct ’25 | US$132.50 | US$135.80 +2.5% | 17.1% | US$179.00 | US$115.00 | n/a | 5 |
| Sep ’25 | US$124.28 | US$135.80 +9.3% | 17.1% | US$179.00 | US$115.00 | n/a | 5 |
| Aug ’25 | US$121.54 | US$130.80 +7.6% | 20.3% | US$179.00 | US$110.00 | n/a | 5 |
| Jul ’25 | US$107.75 | US$125.80 +16.8% | 21.2% | US$179.00 | US$110.00 | n/a | 5 |
| Jun ’25 | US$107.78 | US$125.80 +16.7% | 21.2% | US$179.00 | US$110.00 | n/a | 5 |
| May ’25 | US$105.53 | US$121.40 +15.0% | 24.1% | US$179.00 | US$100.00 | n/a | 5 |
| Apr ’25 | US$100.88 | US$121.40 +20.3% | 24.1% | US$179.00 | US$100.00 | n/a | 5 |
| Mar ’25 | US$98.21 | US$117.40 +19.5% | 28.2% | US$179.00 | US$80.00 | n/a | 5 |
| Feb ’25 | US$95.05 | US$107.80 +13.4% | 34.4% | US$179.00 | US$80.00 | n/a | 5 |
| Jan ’25 | US$100.82 | US$107.80 +6.9% | 34.4% | US$179.00 | US$80.00 | n/a | 5 |
| Dec ’24 | US$83.93 | US$107.80 +28.4% | 34.4% | US$179.00 | US$80.00 | n/a | 5 |
| Nov ’24 | US$72.59 | US$108.80 +49.9% | 33.8% | US$179.00 | US$80.00 | US$127.00 | 5 |
| Oct ’24 | US$75.66 | US$108.80 +43.8% | 33.8% | US$179.00 | US$80.00 | US$132.50 | 5 |
| Sep ’24 | US$87.72 | US$109.80 +25.2% | 33.2% | US$179.00 | US$80.00 | US$124.28 | 5 |
| Aug ’24 | US$77.77 | US$109.80 +41.2% | 33.2% | US$179.00 | US$80.00 | US$121.54 | 5 |
| Jul ’24 | US$73.01 | US$109.80 +50.4% | 33.2% | US$179.00 | US$80.00 | US$107.75 | 5 |
| Jun ’24 | US$65.51 | US$109.80 +67.6% | 33.2% | US$179.00 | US$80.00 | US$107.78 | 5 |
| May ’24 | US$68.59 | US$134.20 +95.7% | 20.2% | US$179.00 | US$97.00 | US$105.53 | 5 |
| Apr ’24 | US$75.99 | US$138.80 +82.7% | 15.7% | US$179.00 | US$120.00 | US$100.88 | 5 |
| Mar ’24 | US$84.45 | US$138.80 +64.4% | 15.7% | US$179.00 | US$120.00 | US$98.21 | 5 |
| Feb ’24 | US$91.47 | US$145.80 +59.4% | 12.3% | US$179.00 | US$125.00 | US$95.05 | 5 |
| Jan ’24 | US$101.35 | US$161.83 +59.7% | 12.6% | US$196.00 | US$140.00 | US$100.82 | 6 |
| Dec ’23 | US$119.99 | US$161.83 +34.9% | 12.6% | US$196.00 | US$140.00 | US$83.93 | 6 |
| Nov ’23 | US$111.47 | US$158.83 +42.5% | 19.2% | US$196.00 | US$117.00 | US$72.59 | 6 |
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.
Discover undervalued companies
Rayonier
US$4.5b
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand.
RYN
US$30.15
7D
0.1%
1Y
-3.0%
Park Hotels & Resorts
US$3.0b
Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value.
PK
US$14.20
7D
-6.0%
1Y
-1.5%
Hudson Pacific Properties
US$481.9m
Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries.
HPP
US$3.23
7D
-23.3%
1Y
-38.8%