IIPR reports Q2 2023 revenue of $76.5M (+8% YoY), AFFO $2.26/diluted share (+5% YoY)

INNOVATIVE INDUSTRIAL PROPERTIES INC

2023-Q2 EPS reported $2.87 revenue$152,524,000

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).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

INNOVATIVE INDUSTRIAL PROPERTIES INC reported second quarter ended June 30, 2023 results: revenue approximately $76.5 million, net income approximately $40.9 million, or $1.44 per diluted share, EPS $1.44 per diluted share.

Period: second quarter ended June 30, 2023
Revenue: approximately $76.5 million
Net income: approximately $40.9 million, or $1.44 per diluted share
EPS: $1.44 per diluted share
Result: reported results

Exact text from the filing

U.S. cannabis industry, announced today results for the second quarter ended June 30, 2023. Second Quarter 2023 Financial Results · Generated total revenues of approximately $76.5 million in the quarter, representing an 8% increase from the prior year’s quarter. · Recorded net income attributable to common stockholders of approximately $40.9 million for the

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INNOVATIVE INDUSTRIAL PROPERTIES INC filing history →

Source: SEC EDGAR

accession 0001104659-23-087021

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