secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)
CIK:        0001677576
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001104659-24-115047
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IIPR Q3 2024 revenue $76.5M, EPS $1.37; AFFO $2.25/shr, dividend $1.90
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- Total rev $76.5M (-1.7% YoY); net income $39.7M ($1.37 diluted EPS) vs $1.45 in Q3 2023.
- AFFO $64.3M ($2.25/shr) vs $2.29/shr YoY; normalized FFO $2.02/shr vs $2.09.
- Quarterly dividend $1.90/shr paid Oct 15; AFFO payout ratio 84%.
- Portfolio 108 properties, 95.7% leased; WALT 14.0 yrs; $222.4M liquidity.
- Applied $1.4M security deposits for rent from 4Front, TILT, Emerald Growth; terminated Temescal lease.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677576/000110465924115047/0001104659-24-115047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677576/000110465924115047/tm2427751d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-115047

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