secwatch.observer — SEC 8-K summary
======================================

Issuer:     INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)
CIK:        0001677576
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001104659-23-087021
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677576/000110465923087021/0001104659-23-087021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677576/000110465923087021/tm2322705d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-087021

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer