WallStSmart

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

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Public Storage generates 1717% more annual revenue ($4.83B vs $265.95M). IIPR leads profitability with a 44.5% profit margin vs 36.9%. IIPR trades at a lower P/E of 13.3x. IIPR earns a higher WallStSmart Score of 52/100 (C-).

IIPR

Buy

52

out of 100

Grade: C-

Growth: 2.0Profit: 7.5Value: 5.7Quality: 5.0

PSA

Buy

50

out of 100

Grade: C-

Growth: 3.3Profit: 8.5Value: 4.7Quality: 4.3
Piotroski: 4/9Altman Z: 1.13
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

IIPRSignificantly Overvalued (-75.6%)

Margin of Safety

-75.6%

Fair Value

$26.72

Current Price

$52.35

$25.63 premium

UndervaluedFair: $26.72Overvalued
PSASignificantly Overvalued (-380.1%)

Margin of Safety

-380.1%

Fair Value

$61.20

Current Price

$267.63

$206.43 premium

UndervaluedFair: $61.20Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

IIPR4 strengths · Avg: 9.5/10
Price/BookValuation
0.8x10/10

Reasonable price relative to book value

Profit MarginProfitability
44.5%10/10

Keeps 45 of every $100 in revenue as profit

Operating MarginProfitability
51.3%10/10

Strong operational efficiency at 51.3%

P/E RatioValuation
13.3x8/10

Attractively priced relative to earnings

PSA2 strengths · Avg: 10.0/10
Profit MarginProfitability
36.9%10/10

Keeps 37 of every $100 in revenue as profit

Operating MarginProfitability
46.2%10/10

Strong operational efficiency at 46.2%

Areas to Watch

IIPR4 concerns · Avg: 2.5/10
Market CapQuality
$1.47B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
6.3%3/10

ROE of 6.3% — below average capital efficiency

Revenue GrowthGrowth
-13.1%2/10

Revenue declined 13.1%

EPS GrowthGrowth
-22.1%2/10

Earnings declined 22.1%

PSA4 concerns · Avg: 3.5/10
P/E RatioValuation
29.8x4/10

Moderate valuation

Price/BookValuation
9.6x4/10

Trading at 9.6x book value

Revenue GrowthGrowth
3.3%4/10

3.3% revenue growth

PEG RatioValuation
9.872/10

Expensive relative to growth rate

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 44.5% and operating margin at 51.3%.

Bull Case : PSA

The strongest argument for PSA centers on Profit Margin, Operating Margin. Profitability is solid with margins at 36.9% and operating margin at 46.2%.

Bear Case : IIPR

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

Bear Case : PSA

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

Key Dynamics to Monitor

IIPR profiles as a declining stock while PSA is a value play — different risk/reward profiles.

IIPR carries more volatility with a beta of 1.50 — expect wider price swings.

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

PSA generates stronger free cash flow (634M), providing more financial flexibility.

Bottom Line

IIPR scores higher overall (52/100 vs 50/100), backed by strong 44.5% 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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