INNOVATIVE INDUSTRIAL PROPERTIES INC
For the period ended Mar 31, 2025. Filed May 8, 2025.
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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, 2025 · Filed May 8, 2025
IIPR$55.06-0.9%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Income
(In thousands, except share and per share amounts)
| For the Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Revenues: | ||
| Rental (including tenant reimbursements) | $71,697 | $74,914 |
| Other | 25 | 540 |
| Total revenues | 71,722 | 75,454 |
| Expenses: | ||
| Property expenses | 7,379 | 6,709 |
| General and administrative expense | 8,461 | 9,562 |
| Depreciation and amortization expense | 18,391 | 17,150 |
| Impairment loss on real estate | 3,527 | — |
| Total expenses | 37,758 | 33,421 |
| Income from operations | 33,964 | 42,033 |
| Interest income | 1,613 | 1,784 |
| Interest expense | (4,500) | (4,389) |
| Net income | 31,077 | 39,428 |
| Preferred stock dividends | (781) | (338) |
| Net income attributable to common stockholders | $30,296 | $39,090 |
| Net income attributable to common stockholders per share (Note 8): | ||
| Basic | $1.05 | $1.37 |
| Diluted | $1.03 | $1.36 |
| Weighted-average shares outstanding: | ||
| Basic | 28,275,549 | 28,145,017 |
| Diluted | 28,588,022 | 28,461,986 |
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