WallStSmart

Innovative Industrial Properties Inc (IIPR)vsPublic Storage (PSA)

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Smart Verdict

WallStSmart Research — data-driven comparison

Public Storage generates 1762% more annual revenue ($4.91B vs $263.65M). IIPR leads profitability with a 52.3% profit margin vs 41.6%. IIPR trades at a lower P/E of 12.7x. IIPR earns a higher WallStSmart Score of 64/100 (C+).

IIPR

Buy

64

out of 100

Grade: C+

Growth: 5.3Profit: 7.5Value: 6.0Quality: 6.0
Piotroski: 3/9Altman Z: 2.10

PSA

Buy

62

out of 100

Grade: C+

Growth: 6.0Profit: 8.5Value: 4.0Quality: 3.5
Piotroski: 3/9Altman Z: 1.00
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for IIPR.

PSAOvervalued (-8.4%)

Margin of Safety

-8.4%

Fair Value

$270.94

Current Price

$284.56

$13.62 premium

UndervaluedFair: $270.94Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IIPR5 strengths · Avg: 9.6/10
Price/BookValuation
0.9x10/10

Reasonable price relative to book value

Profit MarginProfitability
52.3%10/10

Keeps 52 of every $100 in revenue as profit

Operating MarginProfitability
48.8%10/10

Strong operational efficiency at 48.8%

EPS GrowthGrowth
57.7%10/10

Earnings expanding 57.7% YoY

P/E RatioValuation
12.7x8/10

Attractively priced relative to earnings

PSA5 strengths · Avg: 9.2/10
Profit MarginProfitability
41.6%10/10

Keeps 42 of every $100 in revenue as profit

Operating MarginProfitability
45.7%10/10

Strong operational efficiency at 45.7%

Market CapQuality
$53.58B9/10

Large-cap with strong market position

Return on EquityProfitability
22.2%9/10

Every $100 of equity generates 22 in profit

EPS GrowthGrowth
45.1%8/10

Earnings expanding 45.1% YoY

Areas to Watch

IIPR4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
0.7%4/10

0.7% revenue growth

Market CapQuality
$1.56B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
6.3%3/10

ROE of 6.3% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PSA4 concerns · Avg: 3.8/10
P/E RatioValuation
27.6x4/10

Moderate valuation

Price/BookValuation
10.3x4/10

Trading at 10.3x book value

Revenue GrowthGrowth
3.3%4/10

3.3% revenue growth

Debt/EquityHealth
1.113/10

Elevated debt levels

Comparative Analysis Report

WallStSmart Research

Bull Case : IIPR

The strongest argument for IIPR centers on Price/Book, Profit Margin, Operating Margin. Profitability is solid with margins at 52.3% and operating margin at 48.8%.

Bull Case : PSA

The strongest argument for PSA centers on Profit Margin, Operating Margin, Market Cap. Profitability is solid with margins at 41.6% and operating margin at 45.7%.

Bear Case : IIPR

The primary concerns for IIPR are Revenue Growth, Market Cap, Return on Equity.

Bear Case : PSA

The primary concerns for PSA are P/E Ratio, Price/Book, Revenue Growth.

Key Dynamics to Monitor

IIPR carries more volatility with a beta of 1.40 — expect wider price swings.

PSA is growing revenue faster at 3.3% — sustainability is the question.

PSA generates stronger free cash flow (799M), providing more financial flexibility.

Monitor REIT - INDUSTRIAL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

IIPR scores higher overall (64/100 vs 62/100), backed by strong 52.3% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Innovative Industrial Properties Inc

REAL ESTATE · REIT - INDUSTRIAL · USA

Innovative Industrial Properties, Inc. is a self-advising Maryland corporation focused on acquiring, owning, and managing specialty properties leased to experienced state-licensed operators for their regulated medical cannabis facilities.

Public Storage

REAL ESTATE · REIT - INDUSTRIAL · USA

Public Storage is an American international self storage company headquartered in Glendale, California, that is run as a real estate investment trust (REIT).

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