On this page of Benford's Law Stocks.com we present our study of INNOVATIVE INDUSTRIAL PROPERTIES INC — ticker symbol IIPR. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 8/5/2021 to 5/5/2026 for INNOVATIVE INDUSTRIAL PROPERTIES INC under CIK number 0001677576. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for IIPR, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for INNOVATIVE INDUSTRIAL PROPERTIES INC based on the past IIPR filings our system processed in the past.
Benford Chart for IIPR 10Q Filed 5/5/2026
21.0
23.3
11.7
8.7
11.0
5.8
6.3
5.4
6.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL? ✓  [ original filing, IIPR stockholder letter ]
Total numbers found: 520
Recent share count: 28,573,470 (2's column)

■ = Typical range across full coverage universe
# of Numbers Found in Filing
Benford's Law Stocks Indicator
520
Normal-to-low count compared to other filers, above the bottom quartile. At this number count, it would take about 5 numbers to move any given column by a full percentage point.
Benford's Law Stocks Score for IIPR = 50
50

Starting from a possible score of 100, we made the following score deductions:
 • We deducted point upon observing the 1's percentage was below the typical coverage universe range.
 • We deducted point upon observing the 1's percentage was below the company's typical historical range.
 • The 2's percentage was higher than the 1's percentage, increasing the penalty multiplier.
 • However, because we observed that the company's shares outstanding count begins with the digit 2, we canceled the penalty multiplier.
 • We deducted points upon observing the 2's percentage was above the typical coverage universe range.
 • The 5's percentage was higher than the 4's percentage, increasing the penalty multiplier.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 5's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 5's percentage was above the company's typical historical range.
 • The 7's percentage was higher than the 6's percentage, increasing the penalty multiplier.
 • This is the 2nd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted point (includes the impact of penalty multiplier) upon observing the 7's percentage was above the company's typical historical range.
 • The 9's percentage was higher than the 8's percentage, increasing the penalty multiplier.
 • This is the 3rd column with percentage higher than the prior column, resulting in a penalty deduction.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 9's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 9's percentage was above the company's typical historical range.
IIPR's Score Vs. Typical Stock
Benford's Law Stocks Indicator
IIPR
Low score compared to other filers, falling in the bottom quartile.
Other Stocks Ranking Near IIPR
Check our work! We provide our INNOVATIVE INDUSTRIAL PROPERTIES INC Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the IIPR filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 109 numbers that start with the digit 1. Here they are:
145,104
146,320
153,980
152,665
102,500
14,702
10,870
10,746
10,698
108,081
1,894,540
1,848,004
10,349
18,584
18,391
1,613
1.04
1.05
1.02
1.03
1,848,004
178,655
17,633
108,081
1,894,540
1,002,673
1,936,060
1,387,820
1,922,164
18,584
18,391
1,002
11
1,577
17,156
1,136
1,339
14,170
18,235
146,245
128,010
110
19
12
11
12
11
100.0
178,655
100.0
100.0
1.90
16.8
1,054
1,054
1.8
170
15.0
1,000
100
10.0
1.25
1,560
1.5
100.0
13.5
12.0
1.5
1,075
153,980
152,665
100
1.2
1
100.0
135.0
1.04
1.05
1.02
1.03
159
159
158
158
16,786
16,786
16,786
16,786
16.5
16.8
16.25
100
1,000,000
109,591
113,937
18,680
103.65
176,493
104.19
17,633
120.0
170.0
18,584
18,391
10,349
1,013
153,980
152,665
10.6
We found 121 numbers that start with the digit 2. Here they are:
2
28,774,470
2,269,439
2,269,597
2,454,854
2,456,510
2,093,761
2,113,448
22,800
22,800
28,167
27,982
2,393,980
2,370,858
290,981
290,602
2,964
25.00
2,019,525
28,314,520
28,022,975
28
28
2,123,710
2,113,184
2,393,980
2,370,858
25
2,654
27,991,910
28,275,549
28,467,184
28,588,022
2,019,525
28,022,975
28
2,113,184
2,698,523
2,654
2,654
2,584
2,584
28,314,520
28
2,123,710
23,632
28,331,833
28
2,124,113
211,713
290
290
2,078
2,078
28,378,181
28
2,125,109
235,791
2,584
2,078
247
2,608
2,949
290
2,017
291.2
28,314,520
25.00
2,698,523
2,654
2
2,146
23,000
28.9
2.2
2.6
221,637
2,903,981
2,562
2,562
291,215
291,215
234
290,981
290,602
2.0
27.5
2.0
2.0
291,215
2,654
29,172
29,549
27,991,910
28,275,549
28,467,184
28,588,022
22,800
22,800
29,997
290,981
289,526
290,602
288,644
27,500
27,500
29.1
26.5
28,355
2.3
280,555
25
2,654
2,145,401
2,165,359
2,393,980
2,370,858
25.6
20.0
25,000
25.0
We found 61 numbers that start with the digit 3. Here they are:
361,093
343,062
337,279
312,988
3,527
36,509
37,758
32,909
33,964
32,809
31,077
30,155
30,296
312,988
32,809
32,809
377
377
337,279
31,077
31,077
385,147
32,818
32,809
31,077
3,527
300
3,976
3,773
341
32,500
38
3
3
3
385,147
3.5
3,602
3,391
394
371
308,687
316,054
322,309
326,717
3.0
300.0
379
364
366,215
32,809
31,077
312,473
30,056
341,030
3,527
345
32,809
31,077
30,155
30,296
4's 5's 6's
We found 45 numbers that start with the digit 4. Here they are:
40,311
40,593
47,597
499,440
4,718,048
47,780
422
4,500
47,780
4,718,048
4,586
422
470
41,520
47,597
4
4
4,586
4,718,048
4.1
4.6
4
4
4,399,385
45,000
45.0
47,430
47,430
444
415
4,004
4,081
4,333
4,389
475,274
49.85
49.85
4.4
422
442
43,700
43,025
49,244
43,025
4,500
We found 57 numbers that start with the digit 5. Here they are:
57,100
54,913
50,060
50,307
522,854
50,000,000
50,000,000
54,446
54,446
50,934
54,463
54,463
576
527
56,031
54,242
5,258
5,000
5,000
53,777
54,253
564
55,321
57,100
55,244
5
5.5
5
50.0
50,000,000
500.0
50,000,000
54,446
5625
5.1
5,000
5.0
50,000
50.0
5.0
5.0
5,321
5,321
5.50
5.50
50
56
50.0
50.0
56.4
55.8
58.72
5,544
5,544
52,834
514,950
506,628
We found 30 numbers that start with the digit 6. Here they are:
6,155
6,366
68,920
68,996
6,331
6,431
60,301
60,301
60,301
6,093
6
6
60.3
6,155
6,366
633
6,155
660
683
6.0
6.5
6.8
6.03
613
6.0
6.10
68,920
68,996
600
6,431
7's 8's 9's
We found 33 numbers that start with the digit 7. Here they are:
75,000
71,697
76
71,722
7,576
7,379
781
792
792
781
781
7,857
703
7
7
786
75.0
79,000
75,000
781
747
75,000
75,000
75,000
75,000
78.07
75.35
71,697
76
71,722
7,576
7,379
781
We found 28 numbers that start with the digit 8. Here they are:
89,117
851
8,461
89
89
8,697
89,117
81
8
8
8
8
8
8
844
844
844
844
8.5
8.7
8.8
87.5
80.61
8.9
87,366
85.72
8.5
8,461
We found 36 numbers that start with the digit 9. Here they are:
9.00
95,257
962
962
9,281
9,281
9,186
9,186
906
9,041
9,281
9,186
96
9
9.00
9.3
9.2
9,757
9,757
9
9.0
9.6
96,806
96,493
9.0
9
983
97,592
97,592
96,908
96,908
9,258
92.01
94,599
9.0
9.1
While the above IIPR 10Q Filed 5/5/2026 is interesting in isolation, we have found that it is also useful to take a look at older INNOVATIVE INDUSTRIAL PROPERTIES INC filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 5/5/2026 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical IIPR 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

10Q Filed 5/5/2026
21.0
23.3
11.7
8.7
11.0
5.8
6.3
5.4
6.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 50
XBRL? ✓  [ original filing ]
Total numbers found: 520

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 8/7/2025
24.9
24.9
9.8
7.1
10.3
5.5
6.0
8.2
3.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 52
XBRL? ✓  [ original filing ]
Total numbers found: 631

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 11/7/2024
32.0
23.9
8.0
10.4
10.1
3.2
4.9
4.4
3.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 80
XBRL? ✓  [ original filing ]
Total numbers found: 654

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10K Filed 2/27/2024
33.2
20.6
12.1
7.2
8.3
5.3
4.1
4.6
4.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 90
XBRL? ✓  [ original filing ]
Total numbers found: 1,594

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 5/9/2023
28.7
20.9
13.2
10.4
10.0
6.5
3.3
3.9
3.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL? ✓  [ original filing ]
Total numbers found: 492

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 8/4/2022
24.8
21.8
12.6
10.3
8.1
7.9
4.5
5.1
4.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 94
XBRL? ✓  [ original filing ]
Total numbers found: 706

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 11/4/2021
32.4
18.0
14.1
6.6
8.5
6.5
3.8
6.3
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 86
XBRL? ✓  [ original filing ]
Total numbers found: 632

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10K Filed 2/24/2026
31.2
22.3
11.7
6.7
8.7
5.1
5.8
4.3
4.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 90
XBRL? ✓  [ original filing ]
Total numbers found: 1,667

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 5/8/2025
23.7
25.3
11.8
5.9
10.9
3.5
9.8
5.0
4.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 43
XBRL? ✓  [ original filing ]
Total numbers found: 459

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 8/6/2024
25.9
23.8
11.1
9.2
9.0
4.8
5.6
7.2
3.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 78
XBRL? ✓  [ original filing ]
Total numbers found: 621

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 11/2/2023
33.9
21.5
10.0
9.8
8.5
4.5
4.8
4.3
2.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL? ✓  [ original filing ]
Total numbers found: 673

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10K Filed 2/28/2023
32.7
19.8
12.6
7.7
7.7
5.4
4.6
4.8
4.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 100
XBRL? ✓  [ original filing ]
Total numbers found: 1,588

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 5/5/2022
24.7
23.1
15.7
8.2
8.3
5.6
4.0
5.2
5.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 70
XBRL? ✓  [ original filing ]
Total numbers found: 503

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 8/5/2021
33.6
18.9
11.5
7.6
8.8
8.1
3.2
3.5
4.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 73
XBRL? ✓  [ original filing ]
Total numbers found: 593

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 11/4/2025
28.1
25.5
7.0
7.5
11.8
3.7
6.0
6.6
3.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 44
XBRL? ✓  [ original filing ]
Total numbers found: 702

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10K Filed 2/21/2025
32.3
22.6
11.0
6.6
8.6
5.4
4.9
4.2
4.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 90
XBRL? ✓  [ original filing ]
Total numbers found: 1,584

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 5/9/2024
28.8
23.4
11.9
9.4
10.3
4.7
5.2
3.7
2.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 86
XBRL? ✓  [ original filing ]
Total numbers found: 427

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 8/3/2023
24.5
23.0
10.0
10.2
8.8
6.4
6.2
7.0
3.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 79
XBRL? ✓  [ original filing ]
Total numbers found: 660

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10Q Filed 11/9/2022
30.8
20.7
12.6
8.0
7.7
6.9
4.6
5.2
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 99
XBRL? ✓  [ original filing ]
Total numbers found: 715

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
10K Filed 2/24/2022
33.1
19.2
14.5
6.5
7.4
5.3
5.2
4.3
4.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 89
XBRL? ✓  [ original filing ]
Total numbers found: 1,177

■ = Typical IIPR range from 8/5/2021 to 5/5/2026
BTBD 10Q Filed 5/18/2026:
95
NHICU 10Q Filed 5/18/2026:
26
VTAK 10Q Filed 5/18/2026:
86
ABVC 10Q Filed 5/18/2026:
73
BRC 10Q Filed 5/18/2026:
81
OSTX 10Q Filed 5/18/2026:
64
ESLA 10Q Filed 5/15/2026:
84
OLB 10Q Filed 5/15/2026:
59
ISPC 10Q Filed 5/15/2026:
89
VS 10Q Filed 5/15/2026:
28
TCRT 10Q Filed 5/15/2026:
30
ITHAU 10Q Filed 5/15/2026:
64
DAIO 10Q Filed 5/15/2026:
76
SLXN 10Q Filed 5/15/2026:
80
BGLC 10Q Filed 5/15/2026:
65
AMZE 10Q Filed 5/15/2026:
98
PPSI 10Q Filed 5/15/2026:
73
CTAAU 10Q Filed 5/15/2026:
25
ATER 10Q Filed 5/15/2026:
88
BYNOU 10Q Filed 5/15/2026:
70
XSLLU 10Q Filed 5/15/2026:
79
INFQ 10Q Filed 5/15/2026:
96
ZSPC 10Q Filed 5/15/2026:
75
OVBC 10Q Filed 5/15/2026:
76
PNBK 10Q Filed 5/15/2026:
88
CGCTU 10Q Filed 5/15/2026:
26
EVFM 10Q Filed 5/15/2026:
79
MEHA 10Q Filed 5/15/2026:
63
TVGN 10Q Filed 5/15/2026:
88
RNGE 10Q Filed 5/15/2026:
48
SINT 10Q Filed 5/15/2026:
93
SLE 10Q Filed 5/15/2026:
56
CVM 10Q Filed 5/15/2026:
72
AGPU 10Q Filed 5/15/2026:
74
TACOU 10Q Filed 5/15/2026:
44
MRKR 10Q Filed 5/15/2026:
48
VACI.U 10Q Filed 5/15/2026:
0
IRRXU 10Q Filed 5/15/2026:
89
CBDY 10Q Filed 5/15/2026:
64
SCOR 10Q Filed 5/15/2026:
77
 

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