BlackRock, Inc. filed Amendment No. 5 to a Schedule 13G on October 27, 2026, disclosing its beneficial ownership position in the common stock of Innovative Industrial Properties Inc as of September 30, 2026.

Key Highlights

  • Aggregate beneficial ownership: BlackRock reported beneficial ownership of 4,884,245 shares of Innovative Industrial Properties Inc common stock.
  • Percent of class: The filing states the shares represent 17.7% of the outstanding common stock.
  • Sole voting power: BlackRock reported sole voting power over 4,782,329 shares, with no shared voting power.
  • Sole dispositive power: BlackRock reported sole dispositive power over 4,884,245 shares, with no shared dispositive power.
  • Five-percent sub-holder identified: The filing discloses that iShares Core S&P Small-Cap ETF holds more than five percent of the total outstanding common stock of Innovative Industrial Properties Inc.
  • Event date: The date of the event requiring this filing is listed as September 30, 2026.

BlackRock's Schedule 13G Amendment Details for Innovative Industrial Properties

According to the filing, BlackRock, Inc., organized in Delaware and headquartered at 50 Hudson Yards, New York, NY 10001, submitted Amendment No. 5 to its Schedule 13G covering common stock of Innovative Industrial Properties Inc (NYSE:IIPR), CUSIP 45781V101. The filing was signed by Spencer Fleming, Managing Director, and dated October 27, 2026. The triggering event date is stated as September 30, 2026.

The filing discloses that BlackRock beneficially owns 4,884,245 shares, representing 17.7% of the class. Of those shares, 4,782,329 are subject to sole voting power and 4,884,245 are subject to sole dispositive power. Shared voting power and shared dispositive power are each reported as zero. The filing notes, in accordance with SEC Release No. 34-39538, that the Schedule 13G "reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the 'Reporting Business Units') of BlackRock, Inc. and its subsidiaries and affiliates" and does not include securities beneficially owned by other business units whose ownership is disaggregated from the Reporting Business Units under that release.

Under Item 6, the filing identifies one entity with an interest exceeding five percent on behalf of another person: iShares Core S&P Small-Cap ETF, described as having an interest of more than five percent of the total outstanding common stock of Innovative Industrial Properties Inc. The filing's certifications state that the securities "were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer."

What Was Disclosed

BlackRock, Inc. filed Amendment No. 5 to Schedule 13G, reporting 4,884,245 shares, or 17.7%, of Innovative Industrial Properties Inc common stock as of September 30, 2026, with iShares Core S&P Small-Cap ETF identified as holding more than five percent on behalf of another person.