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Innovative Industrial Properties Inc

IIPR

Equity

ISIN US45781V1017 / Valor 34336367

New York Stock Exchange, Inc (2025-03-14)
USD 69.62+2.08%

Innovative Industrial Properties Inc
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About company

Innovative Industrial Properties Inc is a real estate investment trust that focuses on providing real estate capital to state-licensed cannabis operators in the regulated cannabis industry. Established in 2016, the company is the first publicly traded company on the New York Stock Exchange to specialize in this niche market. Their national portfolio consists of specialized industrial and retail properties leased to cannabis operators in states with established regulatory environments. Through their sale-leaseback program, they target well-capitalized companies that have obtained state licenses and lease the properties under long-term, absolute net lease agreements.

Summarized from source with an LLMView SourceSector: Finance

Latest Results (02.01.2025):

Revenue and Income

Innovative Industrial Properties Inc. reported total revenues of $76.5 million for the third quarter of 2024, a slight decrease from the $77.8 million reported in the same period of 2023. The net income attributable to common stockholders was $39.7 million, or $1.37 per share, reflecting a decrease from the previous year's $1.45 per share.

Funds from Operations

For the third quarter of 2024, Innovative Industrial Properties Inc. recorded adjusted funds from operations (AFFO) of $64.3 million and normalized funds from operations (Normalized FFO) of $57.8 million. These figures represent a slight decline compared to the same quarter in 2023, with AFFO per share decreasing by $0.04 and Normalized FFO per share decreasing by $0.07.

Dividend Payment

Innovative Industrial Properties Inc. declared a quarterly dividend of $1.90 per common share, paid on October 15, 2024, to stockholders of record as of September 30, 2024. This dividend represents an annualized payout of $7.60 per common share, with an AFFO payout ratio of 84% for the third quarter of 2024.

Capital Raising and Credit Facility

During the third quarter of 2024, Innovative Industrial Properties Inc. sold 402,673 shares of Series A Preferred Stock, generating $9.6 million in net proceeds. Additionally, the company upsized its revolving credit facility to $87.5 million, which remained undrawn as of the report date.

Portfolio and Development

Innovative Industrial Properties Inc. expanded its portfolio by acquiring a Maryland property for $5.6 million and completed the development of additional cultivation space in Michigan. As of September 30, 2024, the company's property portfolio comprised 108 properties across 19 states, with a total of 9.0 million rentable square feet, including properties under development.

Summarized from source with an LLMView Source

Key figures

-28.1%1Y
-62.1%3Y
-2.67%5Y

Performance

40.7%1Y
43.9%3Y
48.7%5Y

Volatility

Market cap

2967 M

Market cap (USD)

Daily traded volume (Shares)

272,530

Daily traded volume (Shares)

1 day high/low

67.53 / 65.85

1 day high/low (USD)

52 weeks high/low

0.00 / 0.00

52 weeks high/low (USD)

Dividend ex-date

01 January, 2022

Dividend ex-date

Dividend

0.00

Dividend (USD)

Dividend yield (p.a.)

0.00%

Dividend yield (p.a.)

0.002022
0.002023
0.002024

Est dividend (USD)

0.00%2022
0.00%2023
0.00%2024

Est dividend yield

P/E ratio

10.00

P/E ratio

00.002022
00.002023
00.002024

Est P/E ratio

EPS

0.00

EPS (USD)

0.002022
0.002023
0.002024

Est EPS (USD)

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