INNOVATIVE INDUSTRIAL PROPERTIES INC
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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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.
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.
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Consolidated Statements of Income
(In thousands, except share and per share amounts)
| For the Three Months EndedSeptember 30, | For the Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenues | ||||
| Rental (including tenant reimbursements) | $64,743 | $64,292 | $196,553 | $198,855 |
| Other | 177 | 393 | 678 | 443 |
| Total revenues | 64,920 | 64,685 | 197,231 | 199,298 |
| Expenses | ||||
| Property expenses | 6,939 | 7,951 | 21,711 | 22,197 |
| General and administrative expense | 8,458 | 8,681 | 26,526 | 25,768 |
| Depreciation and amortization expense | 19,572 | 18,639 | 56,955 | 55,530 |
| Impairment loss on real estate | 567 | — | 567 | 3,527 |
| Total expenses | 35,536 | 35,271 | 105,759 | 107,022 |
| Gain (loss) on sale of real estate, net | — | — | 12,269 | — |
| Income from operations | 29,384 | 29,414 | 103,741 | 92,276 |
| Interest and other income | 14,331 | 4,416 | 31,414 | 7,599 |
| Interest expense | (11,820) | (4,525) | (26,599) | (13,469) |
| Net income | 31,895 | 29,305 | 108,556 | 86,406 |
| Preferred stock dividends | (3,187) | (1,017) | (9,028) | (2,676) |
| Net income attributable to common stockholders | $28,708 | $28,288 | $99,528 | $83,730 |
| Net income attributable to common stockholders per share (Note 10) | ||||
| Basic | $1.01 | $0.99 | $3.45 | $2.91 |
| Diluted | $0.99 | $0.97 | $3.38 | $2.87 |
| Weighted-average shares outstanding | ||||
| Basic | 27,356,738 | 27,912,881 | 27,928,270 | 28,036,179 |
| Diluted | 27,961,629 | 28,303,600 | 28,465,209 | 28,402,063 |
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