{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-057458","form_type":"8-K","ticker":"IIPR","cik":"0001677576","company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","filed_at":"2023-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.995405+00:00","generated_at":"2026-06-15T09:24:04.631099+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Q1 net income $40.8M ($1.43/sh) +8% YoY; AFFO $63.4M ($2.25/sh) +10%","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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-057458","json":"https://secwatch.observer/filing/0001104659-23-057458.json","markdown":"https://secwatch.observer/filing/0001104659-23-057458.md","text":"https://secwatch.observer/filing/0001104659-23-057458.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1677576/000110465923057458/0001104659-23-057458-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1677576/000110465923057458/tm2315078d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T09:24:04.631099+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}