{"filings":[{"id":1757957,"accession_number":"0001104659-26-085238","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-07-21T12:30:37+00:00","items":["8.01","9.01"],"status":"ready","headline":"IIPR tenant Parallel defaults on two Florida leases; ~$1.6M rent unpaid, operations ceased","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Parallel defaulted on July rent for two Florida properties totaling ~$1.6M (base rent, reimbursements, interest, late charges).","The two properties represent 5.2% of IIPR's annualized contractual rent and income from loans/securities, and 5.7% of annualized contractual rent.","Parallel ceased cannabis operations at both properties and intends to vacate; IIPR holds security deposits that may cover the defaulted amounts.","IIPR will coordinate an orderly transition of possession while reserving all rights under the leases."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1059157,"accession_number":"0001104659-26-074144","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-06-15T21:26:11+00:00","items":["1.01","2.03","3.02","8.01","9.01"],"status":"ready","headline":"IIPR issues $402.5M 6.00% exchangeable notes due 2029; uses $80.5M to repurchase shares","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Issued $402.5M aggregate principal of 6.00% exchangeable senior notes due June 15, 2029, including $52.5M from full option exercise.","Notes exchangeable at 14.4113 shares per $1,000 principal (~$69.39/share), may be settled in cash, stock, or combination.","Used $80.5M of net proceeds to repurchase 1,334,466 shares of common stock at $60.34 per share in privately negotiated transactions.","Notes are senior unsecured obligations and fully and unconditionally guaranteed by the company.","Operating partnership cannot redeem notes before maturity; holders may require repurchase upon fundamental change."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":1002477,"accession_number":"0001104659-26-073013","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-06-11T21:17:34+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"IIPR prices upsized $350M exchangeable notes; repays $282M senior notes due 2026","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Priced $350M aggregate principal 6% exchangeable senior notes due 2029, upsized from $250M; initial exchange price ~$69.39.","Initial purchasers granted 13-day option for additional $52.5M; total aggregate principal amount $402.5M if fully exercised.","Intends to use up to $80.5M of net proceeds to repurchase common stock from note purchasers in private transactions.","On May 26, 2026, fully repaid $282M of 5.50% Senior Notes due 2026.","From Apr 1 to Jun 1, 2026, sold 680,842 common shares for ~$34.8M and 948,034 preferred shares for ~$20.9M under ATM program."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":946837,"accession_number":"0001104659-26-071876","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-06-09T20:42:03+00:00","items":["5.02","5.07","9.01"],"status":"ready","headline":"IIPR stockholders approve 2026 incentive plan (1.25M shares), re-elect directors, pass say-on-pay frequency of 1 year","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Stockholders approved the 2026 Omnibus Incentive Plan, authorizing 1,250,000 new shares of common stock for issuance.","All five director nominees (Gold, Shoemaker, Smithers, Boyle, Ives) were elected; Shoemaker had lowest support (10.3M for, 6.6M withheld).","Ratification of BDO USA as independent auditor for 2026 passed with 21.6M for, 179k against.","Advisory say-on-pay passed with 10.7M for, 6.0M against (64% support); frequency set at one year with 16.1M votes.","The 2026 Plan replaces the 2016 Plan, which is terminated except for outstanding awards."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":609557,"accession_number":"0001104659-26-065712","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-05-22T20:10:35+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"IIPR enters $20M term loan at 10% to repay senior notes due May 2026; weekly payments required","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Term loan of $20M at 10% annual interest (18% default rate), maturing October 9, 2026.","Proceeds to be used for general corporate purposes, including repayment of 5.50% Senior Notes due May 2026.","Weekly interest and principal payments begin May 29, 2026; loan secured by ATM sales proceeds and related rights.","Mandatory prepayment triggers include significant asset dispositions (>$150M), ATM program termination, or sustained trading suspension.","Voluntary prepayment permitted without penalty; loan includes affirmative/negative covenants and events of default."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":536037,"accession_number":"0001104659-26-064109","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-05-20T11:00:36+00:00","items":["1.01","2.03","7.01","9.01"],"status":"ready","headline":"IIP closes $44.9M secured term loans to refinance maturing unsecured notes","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Closed four secured term loans totaling $44.9M at 6.67% fixed interest.","Loans mature June 5, 2031; proceeds repay unsecured notes maturing end of May 2026.","Collateralized by certain properties; parent Innovative Industrial Properties guarantees.","Executive Chairman Alan Gold said financing extends debt maturity profile at attractive rate."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":507959,"accession_number":"0001104659-26-063383","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-05-19T10:01:28+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"IIPR subsidiaries secure $22.9M in secured term loans from Amalgamated Bank","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Two IIP subsidiaries entered loan agreements with Amalgamated Bank for $22.9M aggregate: $10.5M (MA) and $12.4M (PA).","Loans bear fixed interest at 6.67% per annum, 25-year amortization, maturing June 5, 2031.","Loans secured by first-priority liens on the applicable properties; parent Innovative Industrial Properties issued guaranty.","Monthly debt service payments start July 5, 2026; prepayment premium declines from 5% to 1% over five years."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":94624,"accession_number":"0001104659-26-056353","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-05-06T23:59:59+00:00","items":["1.01","2.03","7.01","9.01"],"status":"ready","headline":"IIP closes $56.5M secured term loan; proceeds to repay notes due May 2026","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["$56.5M secured term loan closed on May 5, 2026; three-year initial term with two one-year extension options.","Interest at one-month SOFR plus 500 bps; interest-only payments.","Proceeds to repay unsecured notes maturing at end of May 2026.","Loan secured by eight properties; IIP provides unsecured guaranty with net worth and liquidity covenants.","Executive Chairman Alan Gold says financing strengthens balance sheet for growth opportunities."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":94623,"accession_number":"0001104659-26-055008","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-05-04T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Innovative Industrial Properties Reports Q1 2026 Results with $69M Revenue and $1.88 AFFO per Share","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenues of $69.0 million and net income of $30.2 million ($1.02 per diluted share) for Q1 2026.","AFFO of $53.4 million or $1.88 per share; declared dividends of $1.90 per common share.","Year-to-date raised $128 million in equity and debt capital and executed leases for 389,000 square feet.","Additional secured and unsecured debt financings of nearly $130 million underway to address upcoming bond maturity."],"consensus_eps_estimate":null,"consensus_eps_actual":1.02,"consensus_revenue_estimate":null,"consensus_revenue_actual":68996000.0,"consensus_period":"2026-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":94622,"accession_number":"0001104659-26-051589","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-04-29T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"IIP subsidiary obtains $20M secured term loan at 9.00% from Generations Bank","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Borrower IIP-IL 2 LLC, indirect subsidiary of IIP, issued $20M promissory note to Generations Bank.","Note bears 9.00% fixed interest, matures April 22, 2029; interest-only first 12 months, then 20-yr amortization with balloon.","Loan secured by mortgages on properties in Kankakee and Will Counties, Illinois, and other collateral.","Parent Innovative Industrial Properties guarantees borrower's obligations under the loan.","Origination fee of 1.50% of principal; prepayment penalties apply for first 30 months."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":94621,"accession_number":"0001104659-26-042068","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-04-10T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Director Gary Kreitzer to retire from IIPR board at 2026 annual meeting","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Gary Kreitzer informed IIPR on April 6, 2026, he will retire and not stand for re-election at the 2026 annual meeting.","Retirement is not due to any disagreement with the company on operations, policies, or practices.","Executive Chairman Alan Gold expressed gratitude for Kreitzer's service since board inception."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":107134,"accession_number":"0001104659-26-027927","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-03-16T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"IIPR resolves PharmaCann litigation, reports new tenant defaults and 122K sq ft of new leases","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["PharmaCann settlement includes monetary judgments; properties to be surrendered by May 20/26 2026.","Executed new leases totaling 122,000 sq ft in Illinois and California in March 2026.","Cannabist defaulted on $0.6M March rent for PA property (2.7% of 2025 revenue); Battle Green defaulted on $0.8M (2.9%).","Company intends to use security deposits for March rent and may pursue eviction proceedings.","Tentative agreements reached for four 4Front assets, expected to close in Q3 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":107133,"accession_number":"0001104659-26-022984","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-03-04T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Innovative Industrial Properties approves $100M share repurchase program","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Board approved new $100M common stock repurchase program on March 3, 2026.","Program replaces existing program set to expire March 17, 2026; expires March 4, 2027.","Repurchases may be made via open market, block trades, or private transactions.","Company may adopt a Rule 10b5-1 plan to repurchase during blackout periods.","Timing and volume at management's discretion; program may be extended or discontinued."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":107132,"accession_number":"0001104659-26-018636","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2026-02-23T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"IIPR FY2025 net income down 28%; AFFO $7.24/sh; dividend raised to $7.60","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["FY2025 total revenues $266.0M, net income $114.4M ($3.93/diluted share) vs $159.9M ($5.52) in FY2024.","AFFO $205.4M ($7.24/share), down from $256.1M ($8.98/share) in FY2024.","Declared common dividends totaling $7.60/share, marking annual increase since 2016.","Raised $146M in debt and preferred equity since Oct 2025; executed leases for 337,000 sq ft in Q4'25/Q1'26.","Strategic investment in IQHQ life science platform up to $270M ($50M funded) and closed $100M secured revolver."],"consensus_eps_estimate":null,"consensus_eps_actual":3.93,"consensus_revenue_estimate":null,"consensus_revenue_actual":265955000.0,"consensus_period":"2025-FY","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":123473,"accession_number":"0001104659-25-105733","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-11-04T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"IIP posts Q3 earnings decline; invests $270M into life science platform IQHQ","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenues $64.7M; net income $28.3M ($0.97 diluted EPS) vs $1.37 a year ago.","AFFO $48.3M ($1.71/sh), Normalized FFO $45.2M ($1.60/sh), down from $2.25 and $2.08 YoY.","First outside-cannabis investment: $270M commitment into IQHQ, a life science real estate platform.","Closed new $100M secured revolving credit facility to strengthen financial flexibility.","Paid quarterly dividend of $1.90 per common share on Oct 15, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":2.87,"consensus_revenue_estimate":null,"consensus_revenue_actual":199298000.0,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":123472,"accession_number":"0001104659-25-098109","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-10-09T23:59:59+00:00","items":["1.01","2.03","7.01","9.01"],"status":"ready","headline":"IIPR secures $100M secured revolver, expandable to $135M, backed by IQHQ assets","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Credit facility with East West Bank, 3-year term maturing Oct 3, 2028.","Interest rate: greater of 1-month SOFR+2.0% or 6.10% (6.1% as of Oct 3).","$35M accordion feature allows expansion to $135M if lenders increase commitments.","Secured by IQHQ note and Series G-1 Preferred Stock; no material financial covenants other than liquidity and 2.0x DSC ratio.","Management cites 800+ bps accretive spread on IQHQ investment and enhanced financial flexibility."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":123471,"accession_number":"0001104659-25-096061","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-10-02T23:59:59+00:00","items":["1.01","2.03","7.01","9.01"],"status":"ready","headline":"IIP closes $105M initial investment in life science REIT IQHQ; first non-cannabis investment","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Initial investment of $105M: $100M in revolving credit facility and $5M in preferred stock (15% Series G-1) with warrants for 1.5% of common equity.","Remaining IQHQ preferred stock commitments total up to $165M, expected to fund in tranches from Q4 2025 to Q2 2027.","Drew $50M from existing $87.5M revolver; received commitment for new $100M secured revolver at SOFR+200bps (6.1% as of 9/30/25).","Transaction is IIP's first investment outside cannabis, providing portfolio diversification into life science.","Executive Chairman Alan Gold says transaction expected to generate significant earnings accretion for shareholders."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":140145,"accession_number":"0001104659-25-076830","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-08-12T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"IIP invests up to $270M in life science REIT IQHQ, diversifying outside cannabis","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["IIP commits $100M RCF at 13.5% (12% cash+1.5% PIK) and up to $170M preferred stock with 10% cash+5% PIK dividend; weighted avg >14%.","Preferred stock cumulative, redeemable at greater of $1,560 or Base Amount; warrants for up to 5% equity at $0.01/unit.","IIP gets board seat, intends CEO Paul Smithers; right of first offer on IQHQ property sales.","Related party: Alan Gold (Exec Chair) and Gary Kreitzer (Vice Chair) hold <1% each in IQHQ; Gold served as IQHQ Chair until Dec 2024.","Transaction expected to close Q3 2025; funded via cash on hand, credit facility, and potential future financing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":140144,"accession_number":"0001104659-25-074804","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-08-07T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"IIPR Q2 2025 revenue $62.9M, net income $25.1M ($0.86 EPS), down 21% and 40% YoY","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenues of $62.9M vs $79.8M in Q2 2024, down 21%.","Net income attributable to common stockholders $25.1M ($0.86 diluted EPS) vs $41.7M ($1.44) YoY, down 40%.","AFFO per share of $1.71 vs $2.29 YoY, down 25%; Normalized FFO $1.56 vs $2.06.","Repurchased $20M of common stock during Q2; maintained liquidity >$190M.","Paid quarterly dividend of $1.90 per share, unchanged; AFFO payout ratio 111%."],"consensus_eps_estimate":null,"consensus_eps_actual":1.9,"consensus_revenue_estimate":null,"consensus_revenue_actual":134613000.0,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":157790,"accession_number":"0001104659-25-058560","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-06-11T23:59:59+00:00","items":["5.07","9.01"],"status":"ready","headline":"IIPR annual meeting elects all directors, ratifies auditor, approves say-on-pay","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["All five director nominees elected: Alan Gold (15.0M for), Gary Kreitzer (16.3M), Scott Shoemaker (14.3M), Paul Smithers (17.4M), David Boyle (17.5M).","BDO USA, P.C. ratified as independent auditor for FY2025 with 22.1M votes for, 0.1M against.","Say-on-pay approved with 13.2M votes for (72.9% of votes cast), 4.5M against, 90K abstentions.","Broker non-votes: 4.6M on director elections and say-on-pay; none on auditor ratification."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.15,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":157789,"accession_number":"0001104659-25-047880","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-05-13T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"IIPR adds Stifel and A.G.P. as sales agents for its ATM equity offering program","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Entered additional equity distribution agreements with Stifel and A.G.P. as new sales agents/forward sellers.","Terms are substantially the same as existing agreements with BTIG, Jefferies, Piper Sandler, and Roth Capital.","Approximately $479.8 million of the $500 million aggregate offering remains available under the ATM program.","Shares may be sold under the existing shelf registration statement (S-3) effective February 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":157788,"accession_number":"0001104659-25-045638","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-05-07T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"IIPR Q1 revenue $71.7M, net income $1.03/share vs $1.36; multiple tenant defaults","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenues $71.7M, down 5% YoY; net income $30.3M ($1.03 diluted) vs $1.36 in Q1 2024.","AFFO $55.3M ($1.94/share) vs $2.21; dividend maintained at $1.90/qtr, annualized $7.60.","Declared lease defaults by PharmaCann ($2.7M), plus 4Front, Gold Flora, TILT ($13.1M owed); $16.1M loan default.","YTD: acquired 22k sq ft Maryland property ($7.8M); leased 205k sq ft in Warren, MI to Berry Green; sold MI property ($9M).","Repurchased 371,538 common shares for $20.1M; issued 406k Series A preferred shares for $9.7M net; bought back $8.8M notes."],"consensus_eps_estimate":null,"consensus_eps_actual":1.03,"consensus_revenue_estimate":null,"consensus_revenue_actual":71722000.0,"consensus_period":"2025-Q1","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":176165,"accession_number":"0001104659-25-029472","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-03-28T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"IIPR declares lease defaults on ~10.8% of rent and a $16.1M loan default","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["4Front leases (4 properties, 5.7% of rent) defaulted; $9.0M owed as of March 28, 2025.","Gold Flora leases (3 properties, 2.9% of rent) defaulted; $1.7M owed.","TILT leases (2 properties, 2.2% of rent) defaulted; $2.4M owed.","$16.1M secured note defaulted; borrower owes ~$0.8M in interest/taxes; principal plus interest due immediately.","Company will pursue eviction for tenants and may foreclose on the four California properties securing the note."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.78,"calibrated_materiality_score":0.78,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":176164,"accession_number":"0001104659-25-024499","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-03-17T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"IIPR board authorizes $100 million common stock repurchase program","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Board approved repurchase of up to $100M of common stock; expires March 17, 2026.","Repurchases may be made via open market, block trades, or private transactions under Rule 10b-18.","Funding from existing cash and proceeds from Series A preferred ATM offering.","Company may adopt a 10b5-1 plan to repurchase during blackout periods.","Program may be suspended, modified, or discontinued at any time at IIPR's discretion."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.45,"calibrated_materiality_score":0.45,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":176163,"accession_number":"0001104659-25-024029","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-03-14T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"PharmaCann defaults on $2.7M March rent; IIPR to pursue eviction for nine properties","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["PharmaCann defaulted on March rent for nine leases totaling $2.7M across NY, IL, PA, OH, CO.","Two leases in MI and MA had rent fully abated since Feb 1, 2025; no further rent due.","PharmaCann represented 17% of IIPR's total rental revenues for FY2024.","Company will aggressively enforce rights, including potential eviction proceedings."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":176162,"accession_number":"0001104659-25-017458","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-02-26T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"IIPR files new $500M shelf registration; ATM offering continues with ~$489.9M remaining","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Filed new S-3ASR (No. 333-285148) to replace prior shelf that expired Jan 24, 2025.","ATM prospectus supplement dated Feb 26, 2025 continues offering of up to $500M of common and Series A Preferred.","As of Feb 26, shares with aggregate offering price of ~$489.9M remain available under the ATM.","Amended equity distribution agreements with BTIG, Jefferies, Piper Sandler, and Roth Capital."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":176161,"accession_number":"0001104659-25-015271","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-02-20T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"IIPR Q4 2024 AFFO $2.22/share, down 3% YoY; PharmaCann lease defaults resolved","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Full-year 2024 total revenues $308.5M, net income $159.9M ($5.52 EPS), AFFO $256.1M ($8.98/share).","Q4 2024 total revenues $76.7M, net income $39.5M ($1.36 EPS); AFFO $63.4M ($2.22/share).","PharmaCann resolution: rent reduced for 9 leases; two cultivation properties to transition; security deposits cover Dec 2024/Jan 2025 rent.","Credit facility upsized to $87.5M (undrawn); debt-to-total gross assets 11%; no maturities until May 2026.","Q4 dividend $1.90/share paid Jan 15, 2025; annualized $7.60; AFFO payout ratio 86%."],"consensus_eps_estimate":null,"consensus_eps_actual":5.52,"consensus_revenue_estimate":null,"consensus_revenue_actual":308517000.0,"consensus_period":"2024-FY","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":176160,"accession_number":"0001104659-25-011519","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-02-11T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"IIPR directors David Stecher and Mary Curran to retire at 2025 annual meeting","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["David Stecher notified on Feb 5, 2025 he will not stand for re-election at the 2025 annual meeting.","Mary Curran notified on Feb 7, 2025 she will not stand for re-election at the 2025 annual meeting.","Both departures are not due to any disagreement with the company on operations, policies, or practices.","CEO Paul Smithers thanked Stecher and Curran for their service on behalf of the board and management."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.25,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":176159,"accession_number":"0001104659-25-007410","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-01-30T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"IIP resolves PharmaCann default; cuts monthly rent on 9 properties to $2.6M, abates rent on 2","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Security deposits fully used to cover Dec 2024 and Jan 2025 rent defaults and penalties.","Monthly base rent on 9 properties reduced from $2.8M to $2.6M; cash rent resumes Feb 1, 2025.","Two cultivation properties in MI and MA: rent abated from Feb 1, 2025; if not transitioned by Aug 1, 2025, IIP regains full control.","PharmaCann issued a secured promissory note to IIP maturing Feb 1, 2035, junior to existing senior secured facility.","Agreement void if PharmaCann fails to refinance its senior credit facility by June 30, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":176158,"accession_number":"0001104659-25-001336","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2025-01-06T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Innovative Industrial Properties VP, GC & Secretary Brian Wolfe resigns effective Jan 9, 2025","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Brian Wolfe notified resignation as employee and officer on January 2, 2025; effective January 9, 2025.","No replacement or interim successor was announced in the filing.","Wolfe held positions of Vice President, General Counsel and Secretary."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":193064,"accession_number":"0001104659-24-130490","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-12-20T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"IIPR reports PharmaCann default on all 11 leases; 17% of rental revenue at risk","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["PharmaCann defaulted on Dec rent for 6 properties totaling $4.2M; security deposits applied.","Cross-default provisions triggered default on all 11 leases, including 5 with $90K rent paid.","Defaulted properties located in IL, MA, MI, NY, OH, PA; leases represent 17% of Q3 2024 revenues.","IIPR expects to enforce rights aggressively, may include eviction proceedings."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":193063,"accession_number":"0001104659-24-115388","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-11-07T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"IIPR posts investor presentation; no new financial results disclosed","summary_kind":"llm","event_type":"other_material","confidence":"low","bullets":["Investor presentation posted to website contains no new material financial data; only forward-looking statements and general disclaimers provided in filed excerpt.","Presentation includes typical risk factors and market data but no updated guidance or earnings.","Company is a REIT focused on cannabis industrial properties; portfolio performance not updated.","No changes to dividend, leasing, or capital allocation disclosed in the filing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":193062,"accession_number":"0001104659-24-115047","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-11-07T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"IIPR Q3 2024 revenue $76.5M, EPS $1.37; 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no specific financial updates disclosed in exhibit text","summary_kind":"llm","event_type":"other_material","confidence":"low","bullets":["Company posted investor presentation to website on August 7, 2024.","Presentation includes only cover slide and forward-looking statements; no financial figures or operational data extractable.","Filing under Item 7.01 (Regulation FD) and Item 9.01 (Exhibits); no earnings or material operational events reported.","No updates on tenant performance, dividend, or guidance available in provided exhibit content."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":209439,"accession_number":"0001104659-24-086084","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-08-06T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"IIP reports Q2 2024 revenue $79.8M, net income $41.7M; dividend raised 4.4% to $1.90/share","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenues $79.8M, up 4% YoY; net income $41.7M ($1.44 EPS) flat YoY.","AFFO $65.5M ($2.29/share); dividend increased 4.4% to $1.90/share, annualized $7.60.","Acquired 145k sq ft Florida property for $13M; sold LA property for $9.1M plus $3.9M termination fee.","Upsized revolving credit facility to $50M, undrawn; new ATM program for up to $500M.","Portfolio 95.6% leased, 108 properties, no tenant >18% of annualized base rent."],"consensus_eps_estimate":null,"consensus_eps_actual":2.79,"consensus_revenue_estimate":null,"consensus_revenue_actual":155247000.0,"consensus_period":"2024-Q2","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":227461,"accession_number":"0001104659-24-065183","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-05-24T23:59:59+00:00","items":["3.03","5.03","8.01","9.01"],"status":"ready","headline":"IIPR increases authorized Series A Preferred by 22.66M shares, enters $500M ATM equity facility","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Filed Articles Supplementary designating 22,660,000 additional shares of 9.00% Series A Cumulative Redeemable Preferred Stock; total authorized now 23,350,000 shares.","Terminated prior at-the-market sales agreements with BTIG, Jefferies, Piper Sandler & Co., and Roth Capital, effective May 29, 2024.","Entered new Equity Distribution Agreements with same agents to offer up to $500,000,000 of common stock and Series A Preferred Stock at-the-market.","New agreements allow forward sale arrangements for common stock, with agents receiving commissions up to 2.0% of gross proceeds.","Sales will be made under existing Form S-3 shelf registration and a prospectus supplement dated May 24, 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":227460,"accession_number":"0001104659-24-061944","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-05-15T23:59:59+00:00","items":["5.07","9.01"],"status":"ready","headline":"IIPR annual meeting: all 6 directors elected, auditor ratified, say-on-pay approved with 73% support","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["All six director nominees (Gold, Kreitzer, Curran, Shoemaker, Smithers, Stecher) elected; broker non-votes of 5,032,162.","Ratification of BDO USA as auditor for FY2024: 22,267,026 for, 121,648 against, 64,183 abstain.","Advisory say-on-pay vote: 12,743,967 for (73%), 4,602,170 against (26.5%), 74,558 abstain, plus 5,032,162 broker non-votes.","No other proposals were submitted; all votes were routine annual meeting items."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.25,"calibrated_materiality_score":0.15,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":227459,"accession_number":"0001104659-24-060543","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-05-13T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Innovative Industrial Properties posts investor presentation; no material new financial data disclosed","summary_kind":"llm","event_type":"other","confidence":"low","bullets":["Filed Form 8-K on May 13, 2024, furnishing an investor presentation under Item 7.01.","Presentation available on company's website; exhibit contains only forward-looking statements and cover page.","No operational updates, financial results, or guidance changes were provided in the filing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":227458,"accession_number":"0001104659-24-059090","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-05-09T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"IIPR Q1 2024: Net income $1.36 EPS, AFFO $2.21 per share, revenue $75.5M, portfolio 95.2% leased","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Revenue $75.5M (-1% YoY); net income $39.1M ($1.36 diluted EPS, down 5% YoY from $1.43).","AFFO $63.0M ($2.21/sh), down 2% YoY; dividend maintained at $1.82/sh (82% AFFO payout ratio).","New leases at four properties totaling $69.4M; sold LA property for $9.1M plus $3.9M termination fee.","Operating portfolio 95.2% leased (down from 100% a year ago); 14.8-year avg lease term; 11% debt-to-gross assets.","No security deposits applied to rent in Q1 2024 vs $4.2M in Q1 2023; liquidity $203.5M."],"consensus_eps_estimate":null,"consensus_eps_actual":1.36,"consensus_revenue_estimate":null,"consensus_revenue_actual":75454000.0,"consensus_period":"2024-Q1","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":246326,"accession_number":"0001104659-24-030492","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-03-04T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"IIPR posts investor presentation to website on March 4, 2024; content not reproduced in filing","summary_kind":"llm","event_type":"other_material","confidence":"low","bullets":["Investor presentation made available on company's investor relations website.","Presentation date is March 4, 2024; no financial or operational details included in the 8-K.","Investors can access the full presentation at http://investors.innovativeindustrialproperties.com/.","Filing is for Regulation FD purposes; presentation likely covers portfolio and strategy."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":246325,"accession_number":"0001104659-24-027867","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2024-02-27T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"IIPR reports FY2023 revenue up 12% to $309.5M, AFFO $9.08/share, dividend increased","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Full-year 2023 total revenue $309.5M (+12% YoY); net income $164.2M ($5.77 EPS, +5%).","AFFO $256.5M ($9.08 per share, +7% YoY); Q4 AFFO $64.3M ($2.28 per share, +8%).","Q4 2023 revenue $79.2M (+12% YoY); net income $41.3M ($1.45 EPS, -1% YoY).","Dividends declared totaled $7.22/share in 2023; quarterly dividend raised to $1.82.","Portfolio 108 properties, 8.9M sq ft, 95.8% leased, 14.6 yr avg lease term; no tenant >16% ABR."],"consensus_eps_estimate":null,"consensus_eps_actual":5.77,"consensus_revenue_estimate":null,"consensus_revenue_actual":309506000.0,"consensus_period":"2023-FY","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":263760,"accession_number":"0001104659-23-114315","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-11-03T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"IIPR posts investor presentation to website; no specific financial data disclosed in filing","summary_kind":"llm","event_type":"other_material","confidence":"low","bullets":["Investor presentation dated November 3, 2023, made available at http://investors.innovativeindustrialproperties.com/","No earnings, guidance, or operational updates included in the 8-K or exhibit text provided","Filing serves as a notice of availability of the presentation; content not summarized in this filing"],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":263759,"accession_number":"0001104659-23-113574","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-11-02T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"IIPR Q3 2023 total revenues $77.8M (+10% YoY), AFFO $2.29/share, rent collection 97%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $41.3M ($1.45 diluted EPS) vs $1.32 prior year; AFFO $64.8M ($2.29/share) up 7.5%.","Total revenues $77.8M, up 10% YoY on tenant reimbursements and rent escalations.","Rent collection 97% for Q3; $2.2M security deposits applied, $2.2M uncollected from Parallel default.","Entered $30M revolving credit facility maturing 2026; lease amendment with Goodness Growth with $14M improvement allowance.","Debt to gross assets 12%; no debt maturities until 2026 except $4.4M exchangeable notes in 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":4.32,"consensus_revenue_estimate":null,"consensus_revenue_actual":230350000.0,"consensus_period":"2023-Q3","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":280970,"accession_number":"0001104659-23-104072","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-09-27T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"IIPR regains possession of four California properties from Kings Garden; 2.5% of total assets","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Regained possession of four California properties on Sept 21 & 26, 2023, via acceptance of offer of judgment.","Properties represent approximately 2.5% of total assets as reported in Q2 2023 Form 10-Q.","Kings Garden paid stipulated rent through Sept 20, 2023, including ~$1.7M in Q3 2023.","Company is in active discussions with other parties regarding potential re-leasing of the properties."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":280969,"accession_number":"0001104659-23-087531","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-08-04T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Innovative Industrial Properties posts investor presentation; no material new data disclosed","summary_kind":"llm","event_type":"other","confidence":"low","bullets":["Investor presentation posted to corporate website on August 4, 2023.","Exhibit consists solely of a title slide; no financial figures or operational updates provided.","No new guidance, transactions, or strategic changes announced in the filing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":280968,"accession_number":"0001104659-23-087021","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-08-03T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"IIPR reports Q2 2023 revenue of $76.5M (+8% YoY), AFFO $2.26/diluted share (+5% YoY)","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Net income $40.9M ($1.44 diluted EPS); total revenues $76.5M, up 8% from $70.5M a year ago.","AFFO of $64.0M ($2.26/diluted share) vs $60.2M ($2.15) in Q2 2022, a 5% increase.","Rent collection 97% for Q2; ~$2.1M not collected related to defaulted tenant Parallel at Pennsylvania property.","New lease executed at Perez Road property in California, previously leased to Kings Garden Inc., under development.","Dividend of $1.80/share paid July 14; trailing 12-month dividends of $7.20/share (+11% YoY)."],"consensus_eps_estimate":null,"consensus_eps_actual":2.87,"consensus_revenue_estimate":null,"consensus_revenue_actual":152524000.0,"consensus_period":"2023-Q2","consensus_source":"xbrl_only","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":299646,"accession_number":"0001104659-23-068914","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-06-07T23:59:59+00:00","items":["5.07","9.01"],"status":"ready","headline":"IIPR annual meeting elects all six directors, ratifies BDO as auditor, approves say-on-pay","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Director nominees elected: Alan Gold, Gary Kreitzer, Mary Curran, Scott Shoemaker, Paul Smithers, David Stecher (IIPR).","Ratification of BDO USA as independent auditor for 2023: 21.9M for, 220K against, 102K abstain.","Advisory vote on NEO compensation approved: 14.9M for, 2.5M against, 88K abstain."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.15,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":299645,"accession_number":"0001104659-23-059444","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-05-12T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"IIPR posts investor presentation on website; no material new information disclosed","summary_kind":"llm","event_type":"other","confidence":"low","bullets":["Company posted investor presentation to its website on May 12, 2023.","Presentation available at http://investors.innovativeindustrialproperties.com/.","No specific financial data or material updates included in the filing."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":299644,"accession_number":"0001104659-23-057458","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-05-09T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Q1 net income $40.8M ($1.43/sh) +8% YoY; AFFO $63.4M ($2.25/sh) +10%","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Total revenues $76.1M (+18% YoY); net income $1.43 diluted EPS vs $1.32 YoY.","AFFO per diluted share $2.25, up 10.3% YoY; quarterly dividend $1.80 (annualized $7.20) with 80% AFFO payout ratio.","Acquired Ohio property for $20.1M with $21.9M development funding; acquired PA cultivation facility for $15M sale-leaseback with TILT Holdings subsidiary.","Leases amended with Ascend Wellness (+$15M), PharmaCann (+$15M), Goodness Growth (+$4M) for improvements; cross-default provisions added.","Rent collection 98%; ~$4.2M security deposits applied; CFO David Smith, COO Catherine Hastings, CIO Ben Regin appointed."],"consensus_eps_estimate":null,"consensus_eps_actual":1.43,"consensus_revenue_estimate":null,"consensus_revenue_actual":76067000.0,"consensus_period":"2023-Q1","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":319762,"accession_number":"0001104659-23-038578","cik":1677576,"company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","ticker":"IIPR","form_type":"8-K","filed_at":"2023-03-30T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"David Smith appointed CFO; Catherine Hastings promoted to COO at Innovative Industrial Properties","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["David Smith named CFO and Treasurer effective March 29, 2023; previously CFO at Aventine Property Group.","Catherine Hastings promoted to COO from CFO and Treasurer.","Smith receives $400k base salary and 13,080 RSUs vesting over 3 years.","Severance and change of control agreement entered with Smith, expiring Dec 31, 2025 with auto-renewal."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":1662013501.3838062,"market_cap_bucket":"not_microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":"2023-03-30T23:59:59+00:00|319762"}