Q1 net income $40.8M ($1.43/sh) +8% YoY; AFFO $63.4M ($2.25/sh) +10%

INNOVATIVE INDUSTRIAL PROPERTIES INC

2023-Q1 EPS reported $1.43 revenue$76,067,000

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.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.