secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)
CIK:        0001677576
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001104659-24-086084
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IIP reports Q2 2024 revenue $79.8M, net income $41.7M; dividend raised 4.4% to $1.90/share
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- Total revenues $79.8M, up 4% YoY; net income $41.7M ($1.44 EPS) flat YoY.
- AFFO $65.5M ($2.29/share); dividend increased 4.4% to $1.90/share, annualized $7.60.
- Acquired 145k sq ft Florida property for $13M; sold LA property for $9.1M plus $3.9M termination fee.
- Upsized revolving credit facility to $50M, undrawn; new ATM program for up to $500M.
- Portfolio 95.6% leased, 108 properties, no tenant >18% of annualized base rent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677576/000110465924086084/0001104659-24-086084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677576/000110465924086084/tm2420917d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-086084

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