filo Introduction Innovative Industrial Properties (NYSE:IIPR) is a real estate investment trust (REIT) that focuses on the leasing of properties to support the cannabis industry. Back in late 2022, a situation emerged where the company's debt maturing in 2026 was trading at a higher yield than its preferred shares (NYSE:IIPR.PR.A). Today, the bond price is a bit higher, but still yielding a respectable 7.7%. However, a recent sell-off in the preferred shares has the dividend yield rising to over 8.5%, to w ...

Innovative Industrial Properties (IIPR) closed the latest trading day at $126.92, indicating a +1.09% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.75%. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 1%. The company's stock has climbed by 7.73% in the past month, exceeding the Finance sector's gain of 4.06% and the S&P 500's gain of 4.03%. The upcoming earnings release of Innovative Industrial Properties will be ...

We Are The Cannabis REIT's Investment Thesis Remains Promising, Thanks To The Robust Profitability & Macro Tailwinds We previously covered Innovative Industrial Properties (NYSE:IIPR) in June 2024, discussing the cannabis REIT's robust performance metrics on top of the raised quarterly dividends. Combined with the promising tailwinds observed in the (potential) federal reclassification of cannabis and the growing bullish support observed in its stock prices/ valuations, we had reiterated our Buy rating then ...

anilakkus/iStock via Getty Images Innovative Industrial Properties (NYSE:IIPR) is the only cannabis-related REIT listed on the New York Stock Exchange. It is a triple net lease REIT operating within a unique sector, concentrating on acquiring and managing specialized properties leased to state-licensed cannabis operators. The acquisitions are realised mainly as saleleaseback transactions or third-party deals. For those unacquainted with the 'triple-net lease' term, it's a highly favourable type of agreement ...

I t al T Corporation T b T W T FatCamera Innovative Industrial Properties (NYSE:IIPR) has been one of the most consistent winners in the cannabis sector. In comparison with the stocks of its operator tenants, which have seen great volatility, IIPR has more or less sustained a stable uptrend since bottoming in early 2023. What has been the difference? Whereas the operators have suffered from incessant price compression, IIPR has been more or less insulated due to earning fixed rent, outside of a handful of t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _________ TO _________ Commission file number: 001-37949 Innovative Industrial Properties, Inc. (Exact Name of Registrant as Specified in Its ...

Financial Data and Key Metrics Changes - In Q2 2024, the company generated total revenues of $80 million, a 4% increase from Q2 2023, primarily driven by prior acquisitions and leasing activities [3][20] - AFFO for Q2 was $65.5 million or $2.29 per share, reflecting a 1% increase year-over-year and a 4% increase sequentially from Q1 2024 [22][24] - The common stock dividend was increased by 4.4% to $1.90 per share, continuing the trend of annual dividend increases since 2016 [3][24] Business Line Data and Key Metrics Changes - The company has retained four properties year-to-date, covering $69 million in invested capital, and closed on new investments of just over $65 million [14] - The portfolio consists of 108 properties across 19 states, with a 95.6% lease rate and a weighted average remaining lease term of 14.4 years [18][19] Market Data and Key Metrics Changes - Adult-use cannabis sales in Maryland reached over $1.1 billion and Missouri's sales totaled over $1.3 billion for 2023, indicating strong market growth [7][8] - New York's regulated sales increased from approximately $150 million in 2023 to over $260 million in the first half of 2024, although it remains below projected annual revenues of $4.2 billion [9][56] Company Strategy and Development Direction - The company is focused on maximizing portfolio value through leasing, investment, and disposition activities while maintaining a strong balance sheet and liquidity position [26] - The company is optimistic about potential regulatory changes, including the rescheduling of cannabis, which could enhance capital availability for operators [6][13] Management's Comments on Operating Environment and Future Outlook - Management noted a divergence in market performance, with new markets showing high growth while mature markets face increased competition [7] - There is cautious optimism regarding the rescheduling of cannabis, with expectations that it could lead to increased capital availability for operators [28][51] Other Important Information - The company has a strong liquidity position with over $210 million available, including cash and credit facilities [25] - The company maintains one of the lowest levered balance sheets in the REIT industry, with a debt to total gross assets ratio of 11% [6][24] Q&A Session Summary Question: What is the impact of capital availability on CapEx spending in the cannabis sector? - Management noted enthusiasm in the industry but indicated a wait-and-see approach regarding rescheduling and its effects on capital availability [27][28] Question: How does the recent Chevron ruling affect rescheduling? - Management believes the ruling is positive and does not foresee it complicating the rescheduling process [30][31] Question: What characteristics are important for new investments? - The company remains highly selective, focusing on opportunities in preferred markets with strong tenants [33][34] Question: How does the company balance investments between existing and new tenants? - The company prioritizes supporting existing tenants while also seeking new opportunities, maintaining a diversified portfolio [36][38] Question: What is the status of unoccupied properties and leasing efforts? - The company has a few remaining properties to lease and is confident in its team's ability to position these assets effectively [40] Question: How comfortable is the company with the performance of its New York tenants? - Management expressed confidence in the performance of New York tenants, noting significant sales increases and a positive market outlook [56]

Exhibit 99.1 Innovative Industrial Properties Reports Second Quarter 2024 Results Second quarter dividend increased 4.4%, continuing track record of increasing dividend every year since inception in 2016 SAN DIEGO, CA – August 5, 2024 – Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial ...

Morsa Images Back in 2020, one company that I was fairly bullish about was Innovative Industrial Properties (NYSE:IIPR). For those not familiar with the business, it operates as a REIT that caters to the cannabis market. During its first few years in operation, the company achieved remarkable growth, both on its top line and on its bottom line. Recently, however, there has been evidence of a slowdown. To be clear, the long term outlook for legal cannabis consumption in the US is most certainly positive. And ...

Innovative Industrial Properties, Inc. (IIPR) , a leading real estate investment trust (REIT) specializing in the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities, is set to announce its second-quarter 2024 earnings results on Aug 5 after market close. In the last reported quarter, Innovative Industrial reported adjusted funds from operations (FFO) per share of $2.21, which missed the Zacks Consensus Estim ...