INNOVATIVE INDUSTRIAL PROPERTIES INC
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
IIPR$55.06-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income
(In thousands, except share and per share amounts)
| | | | | | | |
|---|---|---|---|---|---|---|
| | For the Three Months Ended | |||||
| · · March 31, | ||||||
| · 2024 · 2023 | ||||||
| Revenues: · · · · | ||||||
| Rental (including tenant reimbursements) | | $74,914 | | $75,529 | ||
| Other | | 540 | | 538 | ||
| Total revenues | | 75,454 | | 76,067 | ||
| | | | | | | |
| Expenses: | | | | | | |
| Property expenses | | 6,709 | | 5,623 | ||
| General and administrative expense | | 9,562 | | 10,373 | ||
| Depreciation and amortization expense | | 17,150 | | 16,714 | ||
| Total expenses | | 33,421 | | 32,710 | ||
| Income from operations | | 42,033 | | 43,357 | ||
| Interest income | | 1,784 | | 2,233 | ||
| Interest expense | | | (4,389) | | | (4,520) |
| Gain (loss) on exchange of Exchangeable Senior Notes | | — | | 22 | ||
| Net income | | 39,428 | | 41,092 | ||
| Preferred stock dividends | | (338) | | | (338) | |
| Net income attributable to common stockholders | | $39,090 | | $40,754 | ||
| Net income attributable to common stockholders per share (Note 8): | | | | | ||
| Basic | | $1.37 | | $1.45 | ||
| Diluted | | $1.36 | | $1.43 | ||
| Weighted-average shares outstanding: | | | | | ||
| Basic | | 28,145,017 | | 27,949,747 | ||
| Diluted | | 28,461,986 | | 28,223,698 | ||
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