Innovative Industrial Properties (IIPR) Operating Expenses (2017 - 2026)
Innovative Industrial Properties (IIPR) posted Operating Expenses of $36.5 million for Q1 2026, up 5.87% sequentially from $34.5 million in Q4 2025, and down 3.31% YoY from $37.8 million in Q1 2025.
Innovative Industrial Properties (IIPR) Operating Expenses (2017 - 2026) Analysis & Trends
Innovative Industrial Properties has reported Operating Expenses for 10 years, with the latest figure at $36.5 million in Q1 2026.
- Quarterly Operating Expenses fell 3.31% year-over-year to $36.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $140.3 million (down 0.57% YoY) and the FY2025 annual result came in at $141.5 million, up 3.5% from the prior year.
- Operating Expenses rose to $36.5 million in Q1 2026 per IIPR's latest filing, from $34.5 million in the prior quarter.
- Over five years, Operating Expenses peaked at $37.8 million in Q1 2025 and troughed at $24.6 million in Q1 2022.
- A 5-year average of $32.9 million and a median of $34.0 million in 2025 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2026: Operating Expenses surged 68.12% in 2022, then declined 3.31% in 2026.
- Over 5 years, Operating Expenses stood at $29.8 million in 2022, then climbed by 18.03% to $35.2 million in 2023, then dropped by 1.32% to $34.7 million in 2024, then retreated by 0.72% to $34.5 million in 2025, then climbed by 5.87% to $36.5 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $36.5 million, $34.5 million, and $35.3 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Prologis | 131.96 Bn | 131.96 Bn | 2.41 Bn | 1.47 Bn |
| 2 | Public Storage | 56.63 Bn | 56.37 Bn | 1.20 Bn | 766.20 Mn |
| 3 | Extra Space Storage | 30.94 Bn | 30.94 Bn | 642.43 Mn | 481.97 Mn |
| 4 | Eastgroup Properties | 10.77 Bn | 10.77 Bn | 193.10 Mn | 114.53 Mn |
| 5 | Lineage | 9.48 Bn | 9.42 Bn | 425.00 Mn | 1.31 Bn |
| 6 | CubeSmart | 9.27 Bn | 9.27 Bn | 190.47 Mn | 169.10 Mn |
| 7 | Rexford Industrial Realty | 8.33 Bn | 8.33 Bn | - | 143.39 Mn |
| 8 | Terreno Realty | 7.24 Bn | 7.24 Bn | - | 72.62 Mn |
| 9 | STAG Industrial | 7.00 Bn | 7.00 Bn | - | 141.27 Mn |
| 10 | Innovative Industrial Properties | 1.62 Bn | 1.62 Bn | - | 33.71 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 33.71 Mn |
| Mar 31, 2026 | 36.51 Mn |
| Dec 31, 2025 | 34.49 Mn |
| Sep 30, 2025 | 35.27 Mn |
| Jun 30, 2025 | 33.99 Mn |
| Mar 31, 2025 | 37.76 Mn |
| Dec 31, 2024 | 34.74 Mn |
| Sep 30, 2024 | 34.57 Mn |
| Jun 30, 2024 | 34.00 Mn |
| Mar 31, 2024 | 33.42 Mn |
| Dec 31, 2023 | 35.20 Mn |
| Sep 30, 2023 | 33.98 Mn |
| Jun 30, 2023 | 33.03 Mn |
| Mar 31, 2023 | 32.71 Mn |
| Dec 31, 2022 | 29.82 Mn |
| Sep 30, 2022 | 29.53 Mn |
| Jun 30, 2022 | 26.37 Mn |
| Mar 31, 2022 | 24.63 Mn |
| Dec 31, 2021 | 20.48 Mn |
| Sep 30, 2021 | 17.56 Mn |