What is Innovative Industrial Properties, Inc.'s Shariah compliance score?

Innovative Industrial Properties, Inc. (IIPR) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does Innovative Industrial Properties, Inc. pass AAOIFI screening?

Innovative Industrial Properties, Inc. (IIPR) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. IIPR's debt-to-market-cap is 27.3%.

How much purification is needed for Innovative Industrial Properties, Inc.?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for Innovative Industrial Properties, Inc. (IIPR) using the latest financial data.

Where can I screen Innovative Industrial Properties, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Innovative Industrial Properties, Inc. (IIPR) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

IIPRNot HalalF

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Compliance Status

Not Halal

Screened on Oct 18, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Innovative Industrial Properties, Inc. (IIPR) halal? Not Halal. Based on AAOIFI screening, Innovative Industrial Properties, Inc. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Innovative Industrial Properties, Inc. (IIPR) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 18, 2026. Source: https://halalscreener.app/en/stock/IIPR

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Close to the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

27.3% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding IIPR

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

IIPR: Is Innovative Industrial Properties, Inc. Halal?

Innovative Industrial Properties, Inc.

NYSEReal EstateUS

$52.39

Market Cap: 1.4B

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About Innovative Industrial Properties, Inc.

Innovative Industrial Properties, Inc. is an independently managed, Maryland-based corporation primarily focused on acquiring, owning, and overseeing unique real estate assets. These properties are subsequently leased to experienced, state-licensed operators who utilize them for their regulated medical cannabis facilities. For tax purposes, the company adopted the structure of a Real Estate Investment Trust (REIT) starting from the end of 2017.

Sector: Real Estate · Industry: REIT - Industrial

Why this does not pass

Income from prohibited sources is over the 5% limit.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 18, 2026

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Institutional-grade Shariah analysis

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See why IIPR is rated Not Halal with institutional-grade analysis

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

Compliance History

Not Halalnow
since Oct 2026
Halal
until the change above
Doubtful
until the change above
Halal
until the change above
Not Halal
until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: EDGAR

Halal Alternatives in Real Estate

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

5106.KLA+

Axis Real Estate Investment Trust

$1.88

+0.02%

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Al-'Aqar Healthcare REIT

$1.17

+0.01%

5269.KLA+

Al-Salam Real Estate Investment Trust

$0.58

+0.01%

5307.KLA+

AME Real Estate Investment Trust

$1.52

-0.03%

7249.KLA+

Skygate Solutions Berhad

$0.83

+0.00%

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Frequently Asked Questions

Is Innovative Industrial Properties, Inc. (IIPR) halal to invest in?

Innovative Industrial Properties, Inc. (IIPR) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Innovative Industrial Properties, Inc. get a F compliance rating?

Innovative Industrial Properties, Inc. (IIPR) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 27.3% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Innovative Industrial Properties, Inc.'s Shariah verdict?

Innovative Industrial Properties, Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Innovative Industrial Properties, Inc. re-screened for Shariah compliance?

Innovative Industrial Properties, Inc. (IIPR) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Oct 18, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.