secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)
CIK:        0001677576
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001104659-23-113574
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677576/000110465923113574/0001104659-23-113574-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677576/000110465923113574/tm2329637d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-113574

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