secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)
CIK:        0001677576
Form:       8-K
Filed at:   2025-08-07T23:59:59+00:00
Accession:  0001104659-25-074804
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IIPR Q2 2025 revenue $62.9M, net income $25.1M ($0.86 EPS), down 21% and 40% YoY
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- Total revenues of $62.9M vs $79.8M in Q2 2024, down 21%.
- Net income attributable to common stockholders $25.1M ($0.86 diluted EPS) vs $41.7M ($1.44) YoY, down 40%.
- AFFO per share of $1.71 vs $2.29 YoY, down 25%; Normalized FFO $1.56 vs $2.06.
- Repurchased $20M of common stock during Q2; maintained liquidity >$190M.
- Paid quarterly dividend of $1.90 per share, unchanged; AFFO payout ratio 111%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677576/000110465925074804/0001104659-25-074804-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677576/000110465925074804/tm2522798d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-074804

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