Companies: 10,795·Total market cap: $144.5T
Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc.

IIPR-PANYSEReal Estate● Active
$23.75
$-0.04(-0.17%)
Market Cap$47620840
P/E Ratio—
52W High$25.45
52W Low$20.8599
Shares OutstandingFinancialsRevenue

Innovative Industrial Properties, Inc. (IIPR-PA) Shares Outstanding — Overview

Basic and diluted weighted average shares, YoY change, float context, and historical trend from SEC filings and FMP.

IIPR-PA · shares outstanding · updated Jun 8, 2026

Key metrics

Basic Shares Outstanding · Weighted average · fiscal year
28.0M▼ -0.78% YoY Change
FY · as of Dec 31, 2025 · Reported in USD
vs 28.2M in FY 2024
Diluted Shares Outstanding
28.4M
incl. options, RSUs, convertibles
Dilution Spread
+1.33%
Diluted vs Basic
YoY Change
-0.78%
year-over-year
Float (Free Float)
2.0M
publicly tradable shares
101.0% of total
Source: FMP /income-statement · /shares-float · SEC 10-K / 10-QUpdated: 2026-06-08

Shares Outstanding Growth Rate

3-Year CAGRincreasing
+0.8%
2022 → 2025
5-Year CAGRincreasing
+7.6%
2020 → 2025
10-Year CAGRincreasing
+32.1%
2015 → 2025
ⓘ

Negative CAGR typically indicates share buyback or retirement activity. Interpret alongside Splits and Financials tabs. Splits / Financials

Shares outstanding history

↓ Decrease — typically buyback / retirement
↑ Increase — issuance / equity compensation
Latest
* most recent reported · FMP /income-statement · weightedAverageShsOut

Annual shares outstanding by year

FY 2025Latest
Diluted Shares: 28.4M
28.0M
-0.78%
FY 2024
Diluted Shares: 28.5M
28.2M
+0.89%
FY 2023
Diluted Shares: 28.3M
28.0M
+2.31%
FY 2022
Diluted Shares: 27.7M
27.3M
+14.40%
FY 2021
Diluted Shares: 26.3M
23.9M
+22.94%
FMP /income-statement · weightedAverageShsOut · weightedAverageShsOutDilUnit: Billions (B)

Real Estate sector shares outstanding comparison

Shares Outstanding for similar companies or competitors in the Real Estate sector.

#SymbolCompanyShares (Basic)vs IIPR-PA
#1
Prologis, Inc.PLD
Prologis, Inc.
938.4M+>999%
#2
Welltower Inc.WELL
Welltower Inc.
665.6M+>999%
#3
American Tower CorporationAMT
American Tower Corporation
469.1M+>999%
#4
Digital Realty Trust, Inc.DLR
Digital Realty Trust, Inc.
343.5M+>999%
#5
Simon Property Group, Inc.SPG
Simon Property Group, Inc.
326.0M+>999%
#6
Equinix, Inc.EQIX
Equinix, Inc.
97.9M+249.5%
#7
Innovative Industrial Properties, Inc.IIPR-PA
Innovative Industrial Properties, Inc.YOU
28.0M—

/company-screener · per-peer /income-statement · cache 86400s

Understanding Shares Outstanding

What Are Shares Outstanding? (Basic)

Innovative Industrial Properties, Inc. (IIPR-PA) shares outstanding is the total number of issued shares held by shareholders — the basis for Basic EPS and market capitalization. As of December 31, 2025, Innovative Industrial Properties, Inc. reports 28.0M basic shares outstanding (weighted average).

Basic vs. Diluted Shares Outstanding

Innovative Industrial Properties, Inc.'s basic shares outstanding (28.0M) represents currently issued shares. Diluted shares outstanding (28.4M) also includes potential shares from stock options, RSUs, and convertibles. Dilution spread: +1.33%.

Shares Outstanding vs. Float (Free Float)

Innovative Industrial Properties, Inc.'s float is 2.0M (101.0% of total shares outstanding) — shares freely available for public trading, excluding insider-held and restricted shares.

Float2.0M(101.0%)
Outstanding2.0M

ⓘ Float data from /shares-float reflects the most recent SEC filing period-end. The weighted average shares (from /income-statement) may differ — this is a normal reporting window difference, not a data error.

FMP /income-statement · /shares-float · SEC EDGAR · USD

About shares outstanding & methodology

Innovative Industrial Properties, Inc. (IIPR-PA) shares outstanding history from 2015 to 2025. Shares outstanding can be defined as the total number of shares held by all shareholders — including institutional investors, retail investors, and company insiders — assuming conversion of all convertible debt, securities, warrants, and options. This metric excludes the company's treasury shares.

Innovative Industrial Properties, Inc. shares outstanding for the fiscal year ending December 31, 2025 were 28.0M, a 0.78% decline year-over-year. Innovative Industrial Properties, Inc. FY 2025 shares outstanding were 28.0M, a -0.78% decline from FY 2024.

Innovative Industrial Properties, Inc. is a leading company operating in the Real Estate sector. The company's share count trajectory — with a 10-year CAGR of +32.1% — is a key signal for investors evaluating capital return policy, EPS accretion, and long-term shareholder value creation.

Figures tie to SEC 10-K/10-Q income statement disclosures and FMP /income-statement · /shares-float where noted.
Market capSplitsEarningsFinancials (Income)Cash on handFree cash flowNet incomePrice history

Frequently asked questions

IIPR-PA shares outstanding · 4 questions

As of December 31, 2025, Innovative Industrial Properties, Inc. (IIPR-PA) has approximately 28.0M basic shares outstanding and 28.4M diluted shares outstanding. This represents a -0.78% year-over-year change from FY 2024 (28.2M). Innovative Industrial Properties, Inc.'s declining share count is primarily driven by its share buyback program. For the complete historical data table, see the history table above.

IIPR-PA shares outstandinghow many shares does IIPR-PA haveIIPR-PA basic shares 2025IIPR-PA diluted shares

▸ Data: FMP /income-statement · /shares-float · SEC EDGAR · weighted average basis · Innovative Industrial Properties, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: 2026-06-08