{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-059090","form_type":"8-K","ticker":"IIPR","cik":"0001677576","company_name":"INNOVATIVE INDUSTRIAL PROPERTIES INC","filed_at":"2024-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:19.539803+00:00","generated_at":"2026-06-02T06:21:49.898643+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"IIPR Q1 2024: Net income $1.36 EPS, AFFO $2.21 per share, revenue $75.5M, portfolio 95.2% leased","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-059090","json":"https://secwatch.observer/filing/0001104659-24-059090.json","markdown":"https://secwatch.observer/filing/0001104659-24-059090.md","text":"https://secwatch.observer/filing/0001104659-24-059090.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1677576/000110465924059090/0001104659-24-059090-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1677576/000110465924059090/tm2413926d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T06:21:49.898643+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8091e07cf491dbbcd29f13e8b245c252d1b8b3ed","claim":"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.","evidence_excerpt":"Generated total revenues of $75.5 million and net income attributable to common stockholders of $39.1 million, or $1.36 per share","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1677576/000110465924059090/0001104659-24-059090-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first quarter ended March 31, 2024"},{"label":"Revenue","value":"$75.5 million"},{"label":"Net income","value":"$39.1 million"},{"label":"EPS","value":"$1.36 per share"},{"label":"Result","value":"reported results"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}