Innovative Industrial Properties (IIPR) Rent Expense (2017 - 2026)
Innovative Industrial Properties (IIPR) posted Rent Expense of $7.6 million for Q1 2026, down 5.06% sequentially from $8.0 million in Q4 2025, and up 2.67% YoY from $7.4 million in Q1 2025.
Innovative Industrial Properties (IIPR) Rent Expense (2017 - 2026) Analysis & Trends
Innovative Industrial Properties has reported Rent Expense for 10 years, with the latest figure at $7.6 million in Q1 2026.
- Quarterly Rent Expense rose 2.67% year-over-year to $7.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $30.4 million (up 4.23% YoY) and the FY2025 annual result came in at $30.2 million, up 5.99% from the prior year.
- Rent Expense slipped to $7.6 million in Q1 2026 per IIPR's latest filing, from $8.0 million in the prior quarter.
- Over five years, Rent Expense peaked at $8.0 million in Q4 2025 and troughed at $2.0 million in Q1 2022.
- A 5-year average of $6.0 million and a median of $6.9 million in 2024 frame the typical range for Rent Expense.
- The sharpest annual moves came in 2022 and 2025: Rent Expense surged 403.53% in 2022, then increased 0.06% in 2025.
- Over 5 years, Rent Expense stood at $3.3 million in 2022, then surged by 118.77% to $7.2 million in 2023, then advanced by 5.73% to $7.6 million in 2024, then rose by 4.93% to $8.0 million in 2025, then retreated by 5.06% to $7.6 million in 2026.
- According to Business Quant data, Rent Expense over the past three periods registered $7.6 million, $8.0 million, and $8.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Rental Exp. (Qtr) |
|---|---|---|---|---|---|
| 1 | Prologis | 131.96 Bn | 131.96 Bn | 2.41 Bn | - |
| 2 | Public Storage | 56.63 Bn | 56.37 Bn | 1.20 Bn | - |
| 3 | Extra Space Storage | 30.94 Bn | 30.94 Bn | 642.43 Mn | - |
| 4 | Eastgroup Properties | 10.77 Bn | 10.77 Bn | 193.10 Mn | - |
| 5 | Lineage | 9.48 Bn | 9.42 Bn | 425.00 Mn | - |
| 6 | CubeSmart | 9.27 Bn | 9.27 Bn | 190.47 Mn | - |
| 7 | Rexford Industrial Realty | 8.33 Bn | 8.33 Bn | - | - |
| 8 | Terreno Realty | 7.24 Bn | 7.24 Bn | - | - |
| 9 | STAG Industrial | 7.00 Bn | 7.00 Bn | - | - |
| 10 | Innovative Industrial Properties | 1.62 Bn | 1.62 Bn | - | 7.20 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 7.20 Mn |
| Jun 30, 2026 | 7.20 Mn |
| Mar 31, 2026 | 7.58 Mn |
| Mar 31, 2026 | 7.58 Mn |
| Dec 31, 2025 | 7.98 Mn |
| Dec 31, 2025 | 7.98 Mn |
| Sep 30, 2025 | 7.95 Mn |
| Sep 30, 2025 | 7.95 Mn |
| Jun 30, 2025 | 6.87 Mn |
| Jun 30, 2025 | 6.87 Mn |
| Mar 31, 2025 | 7.38 Mn |
| Mar 31, 2025 | 7.38 Mn |
| Dec 31, 2024 | 7.61 Mn |
| Dec 31, 2024 | 7.61 Mn |
| Sep 30, 2024 | 7.30 Mn |
| Sep 30, 2024 | 7.30 Mn |
| Jun 30, 2024 | 6.86 Mn |
| Jun 30, 2024 | 6.86 Mn |
| Mar 31, 2024 | 6.71 Mn |
| Mar 31, 2024 | 6.71 Mn |