secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)
CIK:        0001677576
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001104659-24-027867
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IIPR reports FY2023 revenue up 12% to $309.5M, AFFO $9.08/share, dividend increased
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- Full-year 2023 total revenue $309.5M (+12% YoY); net income $164.2M ($5.77 EPS, +5%).
- AFFO $256.5M ($9.08 per share, +7% YoY); Q4 AFFO $64.3M ($2.28 per share, +8%).
- Q4 2023 revenue $79.2M (+12% YoY); net income $41.3M ($1.45 EPS, -1% YoY).
- Dividends declared totaled $7.22/share in 2023; quarterly dividend raised to $1.82.
- Portfolio 108 properties, 8.9M sq ft, 95.8% leased, 14.6 yr avg lease term; no tenant >16% ABR.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677576/000110465924027867/0001104659-24-027867-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677576/000110465924027867/tm247320d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-027867

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