IIPR Q1 2024: Net income $1.36 EPS, AFFO $2.21 per share, revenue $75.5M, portfolio 95.2% leased

INNOVATIVE INDUSTRIAL PROPERTIES INC

2024-Q1 EPS reported $1.36 revenue$75,454,000

Revenue $75.5M (-1% YoY); net income $39.1M ($1.36 diluted EPS, down 5% YoY from $1.43).
AFFO $63.0M ($2.21/sh), down 2% YoY; dividend maintained at $1.82/sh (82% AFFO payout ratio).
New leases at four properties totaling $69.4M; sold LA property for $9.1M plus $3.9M termination fee.
Operating portfolio 95.2% leased (down from 100% a year ago); 14.8-year avg lease term; 11% debt-to-gross assets.
No security deposits applied to rent in Q1 2024 vs $4.2M in Q1 2023; liquidity $203.5M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INNOVATIVE INDUSTRIAL PROPERTIES INC reported the first quarter ended March 31, 2024 results: revenue $75.5 million, net income $39.1 million, EPS $1.36 per share.

Period: the first quarter ended March 31, 2024
Revenue: $75.5 million
Net income: $39.1 million
EPS: $1.36 per share
Result: reported results

Exact text from the filing

Generated total revenues of $75.5 million and net income attributable to common stockholders of $39.1 million, or $1.36 per share

View on SEC.gov

1427 earnings releases filed in the last 30 days. Browse all earnings releases →

INNOVATIVE INDUSTRIAL PROPERTIES INC filing history →

Source: SEC EDGAR

accession 0001104659-24-059090

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.