---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-113574"
form_type: "8-K"
ticker: "IIPR"
cik: "0001677576"
company_name: "INNOVATIVE INDUSTRIAL PROPERTIES INC"
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T00:33:35.029577+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# IIPR Q3 2023 total revenues $77.8M (+10% YoY), AFFO $2.29/share, rent collection 97%

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-113574
- form_type: 8-K
- ticker: IIPR
- cik: 0001677576
- company_name: INNOVATIVE INDUSTRIAL PROPERTIES INC
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1677576/000110465923113574/0001104659-23-113574-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1677576/000110465923113574/tm2329637d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-113574
- JSON: https://secwatch.observer/filing/0001104659-23-113574.json
- Plain text: https://secwatch.observer/filing/0001104659-23-113574.txt

## Key facts
- Earnings Releases
  INNOVATIVE INDUSTRIAL PROPERTIES INC reported the third quarter ended September 30, 2023 results: revenue total revenues of approximately $77.8 million, net income net income attributable to common stockholders of approximately $41.3 million, EPS $1.45 per share.
  - Period: the third quarter ended September 30, 2023
  - Revenue: total revenues of approximately $77.8 million
  - Net income: net income attributable to common stockholders of approximately $41.3 million
  - EPS: $1.45 per share
  - Result: reported results
  source text: announced today results for the third quarter ended September 30, 2023. Third Quarter 2023 and Subsequent Events Financial Results · Generated total revenues of approximately $77.8 million in the quarter, representing a 10% increase from the prior year’s quarter. · Recorded net income attributable to common stockholders of approximately $41.3 million for the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1677576/000110465923113574/0001104659-23-113574-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.