T vs. IIPR

Last updated Jun 9, 2026

T (AT&T Inc.) and IIPR (Innovative Industrial Properties, Inc.) are both stocks. T operates in Telecom Services (Communication Services), while IIPR operates in REIT - Industrial (Real Estate). Over the past 5 years, T returned 6.60%/yr vs -13.70%/yr for IIPR. At a 0.14 correlation, their price movements are largely independent.

Performance

T vs. IIPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AT&T Inc. (T) and Innovative Industrial Properties, Inc. (IIPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, T achieves a -7.40% return, which is significantly lower than IIPR's 29.84% return.

T

• 1D: -1.10%
• 1M: -10.57%
• YTD: -7.40%
• 6M: -7.40%
• 1Y: -16.38%
• 3Y*: 18.39%
• 5Y*: 6.60%
• 10Y*: 2.86%

IIPR

• 1D: 1.08%
• 1M: 3.32%
• YTD: 29.84%
• 6M: 28.01%
• 1Y: 23.77%
• 3Y*: 4.89%
• 5Y*: -13.70%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

T vs. IIPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
T AT&T Inc.	-7.40%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%
IIPR Innovative Industrial Properties, Inc.	29.84%	-18.40%	-28.55%	8.78%	-59.02%	47.49%	151.33%	72.52%	43.88%	82.30%

Correlation

The correlation between T and IIPR is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Dec 1, 2016	0.15

The correlation between T and IIPR shifts across timeframes, from 0.01 (1 year) to 0.16 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS T : $3.04 IIPR : $4.14
PE Ratio T : 7.39 IIPR : 14.30
PS Ratio T : 1.29 IIPR : 6.37
Total Revenue (TTM) T : $125.65B IIPR : $263.23M
Gross Profit (TTM) T : $105.41B IIPR : $195.78M
EBITDA (TTM) T : $54.70B IIPR : $210.04M

Return for Risk

T vs. IIPR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

T

T Risk / Return Rank: 11
T Sharpe Ratio Rank: 11
T Sortino Ratio Rank: 12
T Omega Ratio Rank: 13
T Calmar Ratio Rank: 14
T Martin Ratio Rank: 4

IIPR

IIPR Risk / Return Rank: 62
IIPR Sharpe Ratio Rank: 62
IIPR Sortino Ratio Rank: 59
IIPR Omega Ratio Rank: 58
IIPR Calmar Ratio Rank: 65
IIPR Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

T vs. IIPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AT&T Inc. (T) and Innovative Industrial Properties, Inc. (IIPR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	T	IIPR	Difference
Sharpe ratio: Return per unit of total volatility	-0.75	0.58	-1.33
Sortino ratio: Return per unit of downside risk	-0.98	1.18	-2.16
Omega ratio: Gain probability vs. loss probability	0.89	1.15	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.75	1.12	-1.87
Martin ratio: Return relative to average drawdown	-1.59	2.73	-4.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

T vs. IIPR - Sharpe Ratio Comparison

The current T Sharpe Ratio is -0.75, which is lower than the IIPR Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of T and IIPR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	T	IIPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.75	0.58	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	-0.33	+0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.40	-0.02

Drawdowns

T vs. IIPR - Drawdown Comparison

The maximum T drawdown since its inception was -64.15%, smaller than the maximum IIPR drawdown of -78.42%. Use the drawdown chart below to compare losses from any high point for T and IIPR.

Drawdown Indicators

	T	IIPR	Difference
Max Drawdown Largest peak-to-trough decline	-64.15%	-78.42%	+14.27%
Max Drawdown (1Y) Largest decline over 1 year	-21.87%	-21.29%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-21.87%	-62.92%	+41.05%
Max Drawdown (5Y) Largest decline over 5 years	-32.01%	-78.42%	+46.41%
Max Drawdown (10Y) Largest decline over 10 years	-42.35%	—	—
Current Drawdown Current decline from peak	-21.87%	-68.82%	+46.95%
Average Drawdown Average peak-to-trough decline	-15.72%	-37.04%	+21.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.34%	8.72%	+1.62%

Volatility

T vs. IIPR - Volatility Comparison

AT&T Inc. (T) has a higher volatility of 7.50% compared to Innovative Industrial Properties, Inc. (IIPR) at 5.83%. This indicates that T's price experiences larger fluctuations and is considered to be riskier than IIPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	T	IIPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	5.83%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	17.57%	29.58%	-12.01%
Volatility (1Y) Calculated over the trailing 1-year period	21.98%	40.99%	-19.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.97%	41.59%	-17.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.71%	48.41%	-24.70%

Dividends

T vs. IIPR - Dividend Comparison

T's dividend yield for the trailing twelve months is around 4.93%, less than IIPR's 12.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIPR Innovative Industrial Properties, Inc.	12.84%	16.05%	11.28%	7.16%	7.01%	2.18%	2.44%	3.73%	1.87%	1.70%	0.00%	0.00%
T AT&T Inc.	4.93%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Financials

Frequently Asked Questions

Can I hold both T and IIPR in my portfolio?

T and IIPR have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, T or IIPR?

T has higher volatility (7.50%) compared to IIPR (5.83%). In terms of maximum drawdown, T dropped -64.15% vs IIPR's -78.42%.

Which has better risk-adjusted returns?

IIPR currently has the higher Sharpe Ratio (0.58 vs -0.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.