Innovative Industrial Properties (IIPR) Total Operating Expenses (2017 - 2026)
Innovative Industrial Properties (IIPR) posted Operating Expenses of $35.54 million for Q3 2026, up 0.8% from $35.27 million a year earlier and up 5.4% from the prior quarter.
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Analysis
Innovative Industrial Properties (IIPR) Total Operating Expenses (2017 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Operating Expenses at Innovative Industrial Properties was $140.24 million, down 1.1% year-over-year; for FY2025, it was $141.51 million, up 3.5% from FY2024.
- Annual Operating Expenses has increased for nine consecutive years, with a five-year compound annual growth rate of 24.6% (FY2020 to FY2025).
- In prior years, Innovative Industrial Properties' Operating Expenses was $136.72 million in FY2024 (+1.3%), $134.92 million in FY2023 (+22.3%), $110.34 million in FY2022 (+59.5%) and $69.18 million in FY2021 (+46.7%).
- Quarterly Operating Expenses has run from a low of $20.48 million in Q4 2021 to a high of $37.76 million in Q1 2025 over five years.
- On a year-over-year basis, Operating Expenses increased in three of the last eight quarters, with growth averaging 1.2%.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q3 2022, with growth of 68.1%; the weakest was Q1 2026, with a decline of 3.3%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $33.71 million (Q2 2026), $36.51 million (Q1 2026) and $34.49 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Welltower | 177.74 Bn | 163.76 Bn | 1.47 Bn |
| 2 | Prologis | 120.05 Bn | 114.00 Bn | - |
| 3 | Simon Property | 74.18 Bn | 70.24 Bn | - |
| 4 | Public Storage | 62.09 Bn | 60.82 Bn | - |
| 5 | Realty Income | 55.76 Bn | 54.03 Bn | - |
| 6 | Ventas | 45.60 Bn | 44.27 Bn | - |
| 7 | Extra Space Storage | 33.58 Bn | 32.49 Bn | 650.96 Mn |
| 8 | Vici Properties | 27.29 Bn | 25.64 Bn | 1.06 Bn |
| 9 | Vivmark Residential | 24.52 Bn | 24.30 Bn | - |
| 10 | Innovative Industrial Properties | 1.50 Bn | 1.01 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 35.54 Mn |
| 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 |
API Access
Innovative Industrial Properties Total Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=total-operating-expenses&ticker=IIPR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "total-operating-expenses", "ticker": "IIPR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=total-operating-expenses&ticker=IIPR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();