INNOVATIVE INDUSTRIAL PROPERTIES INC

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 6, 2024

IIPR$55.06-0.9%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

(In thousands, except share and per share amounts)


· For the Three Months Ended · For the Six Months Ended
· · June 30, · · June 30,
· 2024 · 2023 · 2024 · 2023
Revenues: · · · · · · ·
Rental (including tenant reimbursements)	$79,253	$75,919	$154,167	$151,448
Other	540	538	1,080	1,076
Total revenues	79,793	76,457	155,247	152,524

Expenses:
Property expenses	6,863	5,759	13,572	11,382
General and administrative expense	9,661	10,570	19,223	20,943
Depreciation and amortization expense	17,473	16,704	34,623	33,418
Total expenses	33,997	33,033	67,418	65,743
Gain (loss) on sale of real estate	(3,449)	—	(3,449)	—
Income from operations	42,347	43,424	84,380	86,781
Interest income	3,966	2,317	5,750	4,550
Interest expense	(4,320)	(4,472)	(8,709)	(8,992)
Gain (loss) on exchange of Exchangeable Senior Notes	—	—	—	22
Net income	41,993	41,269	81,421	82,361
Preferred stock dividends	(338)	(338)	(676)	(676)
Net income attributable to common stockholders	$41,655	$40,931	$80,745	$81,685
Net income attributable to common stockholders per share (Note 8):
Basic	$1.45	$1.45	$2.82	$2.89
Diluted	$1.44	$1.44	$2.79	$2.87
Weighted-average shares outstanding:
Basic	28,250,843	27,981,517	28,197,930	27,965,720
Diluted	28,572,138	28,257,239	28,527,419	28,239,841

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.