◆ Preferred Stock AI

ⓘ Guide
🧭 Guided ⚡ Expert
▶ Intro Video

IIPR-P-A NOW TRADING POST CALL DATE

INNOVATIVE INDUSTRIAL PROPERTIES INC · Series A · REIT - Diversified
Also quoted as: IIPR-A, IIPRprA, IIPR.PRA, IIPR-PA, IIPRpA
$24.44
last price

About this security

IIPR-P-A is a 9% cumulative perpetual preferred stock issued by INNOVATIVE INDUSTRIAL PROPERTIES INC, a REIT - Diversified issuer. $25 liquidation preference, current yield 9.21%, callable from 2022-10-19.

INNOVATIVE INDUSTRIAL PROPERTIES INC: Innovative Industrial Properties (IIPR) is an internally managed real estate investment trust (REIT) focused on acquiring, owning, and managing specialized industrial and commercial properties across the United States. The company's portfolio primarily consists of facilities leased on a triple-net basis to state-licensed cannabis operators, with properties typically acquired through sale-leaseback transactions or third-party purchases. Under triple-net leases, tenants bear responsibility for structural repairs, maintenance, taxes, and insurance. Beyond cannabis real estate, IIPR also holds financial investments in the life science sector and is actively pursuing property acquisitions in that industry as part of its broader growth strategy. ↗

Issuer page — all INNOVATIVE INDUSTRIAL PROPERTIES INC securities & profile →

Key Stats ✓ terms from SEC filing — verify via link below ✓ verified against SEC filing

live page · rendered 05:17:34 UTC · refreshes from the market feed on each visit · last SEC-verified 2026-06-16
Current Yield
9.21%
Annual Dividend
$2.2500
Recent Market Price
$24.44
as of 2026-06-16
Disc/Prem to Par (→ screen)
-2.24% (−$0.56)
Recent Ex-Date
2026-03-31
Pay Frequency
quarterly
Cumulative
Yes
Original Coupon
9.000%
Call Date
2022-10-19 ⚑ callable now
Yield to Call
n/a — callable now
Yield to Worst
9.21%
Liq. Preference
$25.00
Maturity
Perpetual
Redeemable
Yes
Convertible
No — Limited change-of-control conversion
Pay Dates
January 15, April 15, July 15, October 15
Shares Offered (original)
600,000 +90,000 OA
Issued
2017-10-19
Series
A
Alt. Symbology
IIPR-A, IIPRprA, IIPR.PRA, IIPR-PA, IIPRpA

vs. REIT - Diversified category (121 issues): yield 9.21% vs avg 8.14% · discount -2.2% vs avg -13.9%

Quote

 IIPR-P-A (preferred)IIPR (common)
Last $24.44 $60.49
Change — —
Open$24.49$61.94
High / Low $24.50 / $24.20 $62.30 / $59.92
Prev Close——
Volume91,974563,262
52-Week High / Low $25.45 / $20.86 $62.30 / $44.58

52-week range based on available history. Shares outstanding / market cap require a fundamentals feed (not in current data plan).

Price

● IIPR-P-A ● IIPR (common)

Dividend History

Ex-DateAmount / Share
2026-03-31$0.562500
2025-12-31$0.562500
2025-09-30$0.562500
2025-06-30$0.562500
2025-03-31$0.562500
2024-12-31$0.562500
2024-09-30$0.562500
2024-06-28$0.562500
2024-03-27$0.562500
2023-12-28$0.562500
2023-09-28$0.562500
2023-06-29$0.562500

Performance — $10K Calculator

See what an investment in IIPR-P-A would be worth today, dividends reinvested.

Dividends reinvested (DRIP) at the close on each ex-date. Full performance page →

🔔 Get dividend & filing alerts for IIPR-P-A →

Prospectus (SEC 424B5)

We are offering 600,000 shares of our 9.00% Series A Cumulative Redeemable Preferred Stock, $0.001 par value per share (the "Series A Preferred Stock").

Use of proceeds: Net proceeds are intended to be used to fund property acquisitions in the company's pipeline and for general corporate purposes (per Use of Proceeds section).

Full Prospectus (SEC filing) →

News — INNOVATIVE INDUSTRIAL PROPERTIES INC

Issuer news via Tiingo, tagged to IIPR.

Related Articles

About this site

This site tracks preferred stocks and baby bonds — investments that pay regular, scheduled dividends. Every figure shown is drawn from companies' SEC filings and live market quotes.

What you're looking at
A preferred stock sits between a common stock and a bond. It usually trades near a $25 face value and pays a fixed dividend on a set schedule. Baby bonds are similar, but they are debt that matures on a stated date.
Income & dividends
Current YieldAnnual income ÷ today's price — what you'd actually earn buying now. The headline income number.
Annual Dividend / InterestTotal cash paid per share each year. A preferred pays a "dividend"; a baby bond pays "interest."
Original CouponThe annual rate set when it was issued, as a % of par (6% of $25 = $1.50/yr). Fixed stays put; floating/reset rates change later.
Pay FrequencyHow often it pays — usually quarterly, sometimes monthly or twice a year.
Recent Ex-DateOwn it before this date to receive the next payment; buy on or after and you miss that one.
Price & value
Recent Market PriceThe latest market quote, delayed at least 20 minutes.
Liquidation Preference (Par)Face value — almost always $25 (some are $50, $100, or $1,000). What you're owed if the company winds down, and the price it can be redeemed at.
Disc / Prem to ParHow far the price sits below par (a discount) or above it (a premium). A discount can add return if it's redeemed at par; a premium is what you'd lose if it is.
Call & redemption
Call DateThe first date the issuer may redeem (buy back) the share at par. Before it you're protected; after it, it can be called at any time.
RedeemableWhether the issuer has the right to buy it back at all.
Yield to CallYour annual return if bought today and redeemed at par on the call date. If it's below the current yield, a call would cost you.
Yield to WorstThe lowest of the possible outcomes (to call, to maturity, or simply held) — the cautious yield to judge by.
Dividend terms & structure
CumulativeIf a payment is skipped, a cumulative issue still owes it (and must catch up before any common dividend); a non-cumulative one does not.
Interest DeferrableOn some baby bonds the issuer may postpone interest for a period — common on junior subordinated notes.
Floating / Reset RateThe rate isn't fixed forever — after a set date it resets to a benchmark (e.g. 3-month SOFR or the 5-year Treasury) plus a spread.
MaturityFor a baby bond, the date the principal is repaid. Most preferreds are perpetual — no maturity.
ConvertibleWhether it can turn into the company's common stock. "Change-of-control conversion" means that right applies only if the company is taken over.
Conversion Price / RatioFor convertibles, the price or number of common shares each unit converts into.
SeriesThe class label from the SEC filing (e.g. Series A). Note: it can differ from the ticker letter.
IssuedThe date the security first settled — when it came to market.
Shares OfferedHow many shares (or depositary shares) were sold in the original offering.
Finding your way around
SearchLook up any symbol or company in the box at the top.
Lists & ScreenerBrowse by highest yield, largest discount, monthly payers, ETFs and more.
Ask the dataThe chat box answers plain questions like “highest-yield monthly REIT under par.”
$10K CalculatorSee what a past investment would be worth today.

This is information, not investment advice.

★ Save your favorites

No password needed — just your email. We'll remember the preferreds you star so they're waiting when you come back. Next time, enter the same email to pull up your whole list anywhere.

💬 Ask the data
Preferred Stock Assistant ✕
Ask me anything — e.g. "highest-yield monthly REIT preferred under par" or "what if I'd put $10k in SACH-P-A in 2022?"
Theme Original Apex Nova Aurora Lumen Brutalist