INNOVATIVE INDUSTRIAL PROPERTIES INC
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
View on SEC.govAbout 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, 2026 · Filed Nov 3, 2026
IIPR$55.06-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
(In thousands)
| For the Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net income | $108,556 | $86,406 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities | ||
| Depreciation and amortization | 56,955 | 55,530 |
| Impairment loss on real estate | 567 | 3,527 |
| Loss (gain) on sale of real estate, net | (12,269) | — |
| Paid-in-kind dividends and interest income on life science investments | (5,083) | — |
| Stock-based compensation | 8,721 | 7,434 |
| Amortization of debt discount and issuance costs | 3,402 | 1,431 |
| Other non-cash adjustments | (3,520) | 17 |
| Changes in assets and liabilities | ||
| Other assets, net | (3,601) | (2,836) |
| Accounts payable, accrued expenses and other liabilities | 5,454 | 2,753 |
| Rent received in advance and tenant security deposits | (8,781) | (5,980) |
| Net cash provided by (used in) operating activities | 150,401 | 148,282 |
| Cash flows from investing activities | ||
| Investments in real estate | — | (7,857) |
| Investments in life science debt instruments | (108,520) | (100,235) |
| Investments in life science equity securities | (150,000) | (5,000) |
| Proceeds from sale of real estate assets | 45,192 | 1,750 |
| Funding of draws for improvements and construction | (6,039) | (20,976) |
| Purchases of short-term investments | — | (5,258) |
| Maturities of short-term investments | — | 5,000 |
| Net cash provided by (used in) investing activities | (219,367) | (132,576) |
| Cash flows from financing activities | ||
| Issuance of common stock, net of issuance costs | 44,031 | — |
| Repurchase of common stock | (88,969) | (20,108) |
| Issuance of preferred stock, net of issuance costs | 81,215 | 19,111 |
| Proceeds from issuance of exchangeable notes | 402,500 | — |
| Proceeds from term loans | 148,660 | — |
| Principal payments on debt and term loans | (318,313) | (8,697) |
| Draws on revolving credit facilities | 220,000 | 50,000 |
| Repayments on revolving credit facilities | (135,000) | — |
| Payment of deferred financing costs | (17,820) | — |
| Dividends paid to common stockholders | (161,350) | (162,499) |
| Dividends paid to preferred stockholders | (6,977) | (2,223) |
| Taxes paid related to net share settlement of equity awards | (1,348) | (864) |
| Net cash provided by (used in) financing activities | 166,629 | (125,280) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 97,663 | (109,574) |
| Cash and cash equivalents, beginning of period | 47,597 | 146,245 |
| Cash, cash equivalents and restricted cash, end of period | $145,260 | $36,671 |
| Supplemental disclosure of cash flow information | ||
| Cash paid during the period for interest, net of interest capitalized | $17,535 | $8,019 |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Accrual for current-period additions to real estate | $354 | $3,541 |
| Accrual for common and preferred stock dividends declared | 56,314 | 54,793 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.