INNOVATIVE INDUSTRIAL PROPERTIES INC

For the period ended Sep 30, 2024. Filed Nov 7, 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.

Sep 30, 2024 · Filed Nov 7, 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 Nine Months Ended
· · September 30, · · September 30,
· 2024 · 2023 · 2024 · 2023
Revenues: · · · · · · ·
Rental (including tenant reimbursements)	$76,052	$77,286	$230,219	$228,734
Other	474	540	1,554	1,616
Total revenues	76,526	77,826	231,773	230,350

Expenses:
Property expenses	7,295	6,318	20,867	17,700
General and administrative expense	9,330	10,981	28,553	31,924
Depreciation and amortization expense	17,944	16,678	52,567	50,096
Total expenses	34,569	33,977	101,987	99,720
Gain (loss) on sale of real estate	—	—	(3,449)	—
Income from operations	41,957	43,849	126,337	130,630
Interest income	2,685	2,075	8,435	6,625
Interest expense	(4,427)	(4,330)	(13,136)	(13,322)
Gain (loss) on exchange of Exchangeable Senior Notes	—	—	—	22
Net income	40,215	41,594	121,636	123,955
Preferred stock dividends	(564)	(338)	(1,240)	(1,014)
Net income attributable to common stockholders	$39,651	$41,256	$120,396	$122,941
Net income attributable to common stockholders per share (Note 8):
Basic	$1.38	$1.46	$4.21	$4.36
Diluted	$1.37	$1.45	$4.16	$4.32
Weighted-average shares outstanding:
Basic	28,254,565	27,983,004	28,216,946	27,971,544
Diluted	28,579,687	28,265,605	28,548,050	28,248,054

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.