INNOVATIVE INDUSTRIAL PROPERTIES INC

For the period ended Jun 30, 2025. Filed Aug 7, 2025.

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, 2025 · Filed Aug 7, 2025

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

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Contents

Consolidated Statements of Income

(In thousands, except share and per share amounts)

	For the Three Months EndedJune 30,		For the Six Months EndedJune 30,
	2025	2024	2025	2024
Revenues:
Rental (including tenant reimbursements)	$62,866	$79,253	$134,563	$154,167
Other	25	540	50	1,080
Total revenues	62,891	79,793	134,613	155,247
Expenses:
Property expenses	6,867	6,863	14,246	13,572
General and administrative expense	8,626	9,661	17,087	19,223
Depreciation and amortization expense	18,500	17,473	36,891	34,623
Impairment loss on real estate	—	—	3,527	—
Total expenses	33,993	33,997	71,751	67,418
Gain (loss) on sale of real estate	—	(3,449)	—	(3,449)
Income from operations	28,898	42,347	62,862	84,380
Interest income	1,570	3,966	3,183	5,750
Interest expense	(4,444)	(4,320)	(8,944)	(8,709)
Net income	26,024	41,993	57,101	81,421
Preferred stock dividends	(878)	(338)	(1,659)	(676)
Net income attributable to common stockholders	$25,146	$41,655	$55,442	$80,745
Net income attributable to common stockholders per share (Note 8):
Basic	$0.87	$1.45	$1.92	$2.82
Diluted	$0.86	$1.44	$1.90	$2.79
Weighted-average shares outstanding:
Basic	27,924,092	28,250,843	28,098,850	28,197,930
Diluted	28,317,693	28,572,138	28,452,111	28,527,419

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.