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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

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Gain on sale of real estate

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Year over year growth in Revenue and Operating Expenses.

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Innovative Industrial Properties

Innovative Industrial Properties, Inc. is a real estate investment trust, which engages in the acquisition, ownership, and management of industrial properties. It operates through the following geographical segments: Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia and Washington. The firm's property portfolio includes PharmaCann, Inc., SH Parent, Inc., Ascend Wellness Holdings, Inc., Cresco Labs Inc., and Kings Garden Inc. The company was founded by Alan D. Gold and Paul E. Smithers on June 15, 2016 and is headquartered in Park City, UT.

Earnings data Q1 2021

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Earnings data Q1 2023

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Earnings data Q1 2024

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Earnings data Q3 2024

Earnings data Q4 2024

Innovative Industrial Properties (IIPR) reports robust 2022 performance amidst industry challenges

Innovative Industrial Properties (IIPR) navigated challenges in the regulated cannabis industry while reporting strong financial performance in 2022. The company remains focused on re-leasing properties, collecting rents, and strategically deploying capital. Despite market dynamics and tenant issues, IIPR is optimistic about long-term industry growth.

Innovative Industrial Properties reports strong Q1 performance amidst industry challenges

IIPR's Q1 performance reflects resilience amidst challenges in the cannabis industry.
Maintaining strong credit metrics and cautious approach to tenant struggles and regulatory changes.
Opportunities in state-specific programs and potential federal legislation support growth outlook.
Focus on strong tenants and industry growth while ensuring shareholder compensation.

Innovative Industrial Properties reports robust Q2 performance amidst industry challenges

Innovative Industrial Properties (IIPR) delivered strong financial results, showcasing resilience and growth potential amidst industry challenges and economic uncertainties.
The company's strategic focus on tenant monitoring, market adaptability, and team quality positions it well for future growth and expansion.
Despite facing tenant defaults and market uncertainties, IIPR remains optimistic about the cannabis industry, emphasizing financial stability, and growth opportunities in new states.

Innovative Industrial Properties (IIPR) reports robust Q3 earnings amidst industry challenges

Innovative Industrial Properties (IIPR) delivered strong financial performance in Q3 2023, supported by robust revenues and diligent rent collection.
Despite facing challenges in the regulated cannabis industry and market dynamics, IIPR's proactive approach and strong balance sheet position it for long-term success.
Opportunities in addressing industry challenges and leveraging growth prospects underscore IIPR's strategic resilience and commitment to value creation.
Management's optimism and strategic focus on operational efficiency and market opportunities bode well for IIPR's future performance and shareholder value.

Innovative Industrial Properties reports strong Q4 performance and growth outlook

Innovative Industrial Properties (IIPR) delivered robust financial results, showcasing growth, profitability, and operational efficiency in Q4 2023.
Despite challenges in revenue timing uncertainties and market dynamics, IIP's strengths in financial stability, diversified portfolio, and product quality position it well for future growth.
Opportunities lie in expanding the property portfolio, leveraging indoor product advantages, and exploring growth avenues in tenant operations and industry trends for sustained success.

Innovative Industrial Properties reports stable Q1 performance amidst industry challenges

Innovative Industrial Properties delivered stable financial performance in Q1, focusing on operational expansion and maintaining a strong balance sheet.
The company faces challenges from market dynamics and regulatory uncertainties but is well-positioned to capitalize on growth opportunities.
With a strategic approach to leasing, investments, and portfolio management, the company navigates industry challenges while seeking operational efficiencies.
Analyst inquiries highlighted the company's resilience, potential impacts of legislative changes, and the importance of addressing market dynamics.

Innovative Industrial Properties reports robust Q2 earnings amidst market expansion

Innovative Industrial Properties (IIPR) delivered a strong Q2 performance with solid financial results and strategic growth initiatives.
Despite regulatory uncertainties, IIPR's financial stability, diversified portfolio, and growth prospects position it well for future success.
The company's focus on market expansion, operational efficiency, and prudent investments underscores its resilience and potential for sustained growth.

Innovative Industrial Properties (IIPR) excels in Q3 amidst industry challenges

Innovative Industrial Properties (IIPR) delivers a solid Q3 performance, showcasing financial stability and strategic positioning in a challenging industry. The company's strong liquidity, low leverage, and diversified portfolio set a solid foundation for future growth and investment opportunities amidst evolving market dynamics.

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Innovative Industrial Properties, Inc. is a real estate investment trust, which engages in the acquisition, ownership, and management of industrial properties. It operates through the following geographical segments: Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington. The firm's property portfolio includes PharmaCann, Inc., SH Parent, Inc., Ascend Wellness Holdings, Inc., Cresco Labs Inc., and Kings Garden Inc. The company was founded by Alan D. Gold, Gary A. Kreitzer and Paul E. Smithers on June 15, 2016 and is headquartered in Park City, UT.

In the latest trading session, Innovative Industrial Properties (IIPR) closed at $134.91, marking a -0.57% move from the previous day.

Innovative Industrial Properties (IIPR) Suffers a Larger Drop Than the General Market: Key Insights

AFC Gamma

Chicago Atlantic Real Estate Finance

Ancillary cannabis stocks, particularly Cannabis REITs, are gaining attention due to their potential for steady dividends. Cannabis REITs invest in real estate properties leased to cannabis operators. This provides a unique opportunity for investors to earn income. The US cannabis industry is projected to grow at a compound annual growth rate (CAGR) of over 20% through 2030. This growth is driven by increasing legalization and market expansion. Recent headlines have focused on potential federal legalization, which could significantly boost the industry. As the market evolves, ancillary stocks like REITs are positioned to benefit from the industry's expansion.

Maximizing Returns: The Top Cannabis REITs for Long-Term Investment Strategies

Innovative Industrial Properties is a REIT focused on leasing properties to the cannabis industry, with preferred shares offering an 8.5% dividend yield. The company improved operating cash flow to $136 million and free cash flow to $122 million, ensuring dividend sustainability. With over $200 million in liquidity, the capital improvement allowance is manageable, but call risk on preferred shares and potential common share issuance pose risks.

Innovative Industrial Properties: Preferred Shares Offering Attractive 8.5% Dividend Yield

SAN DIEGO--(BUSINESS WIRE)--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 that its board of directors has declared a third quarter 2024 dividend of $1.90 per share of common stock, representing an annualized dividend of $7.60 per common share. “We are proud to declare our 30th consecutive quarterly dividend since our inception in 2016,” said Paul Sm.

Innovative Industrial Properties Declares Third Quarter 2024 Dividends

In the latest trading session, Innovative Industrial Properties (IIPR) closed at $126.92, marking a +1.09% move from the previous day.

Innovative Industrial Properties (IIPR) Surpasses Market Returns: Some Facts Worth Knowing

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Willem Van Zyl / iStock via Getty Images With a yield of just over 6%, Innovative Industrial Properties (NYSE:IIPR) is a commercial mortgage real estate investment trust that provides financing to the cannabis industry.

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The US cannabis industry continues to grow, reaching $32 billion in annual sales in 2023. Experts predict this number will exceed $50 billion by 2028 as more states legalize cannabis. This rapid growth provides ample opportunities for cannabis REITs, which lease properties to licensed operators. Recent headlines, such as Congress debating federal legalization, add further momentum to the market. As legalization efforts progress, REITs are expected to see increased demand for cultivation and retail spaces. Investors looking for steady returns should closely watch the top-performing REITs.

September 2024 Watchlist: Leading Cannabis REITs for Investment

IIPR's rally has not been surprising, thanks to the tailwinds from the potential cannabis rescheduling and the bullish support observed in its stock valuations/prices. Its tenants remains profitable enough, securing its dividend investment thesis, aside from the recently added tenant, Ayr Wellness. IIPR is an exception to the REIT rule, thanks to its extremely low net-debt-to-EBITDA ratio of 0.70x and growing AFFO per share despite the increased shares outstanding.

Innovative Industrial Properties: Macro Tailwinds Are Promising With Secure Dividend Investment Thesis

Innovative Industrial Properties is the only cannabis-related REIT listed on the NYSE. IIPR operates within a unique sector, acquiring specialized properties leased to state-licensed cannabis operators. The Company will benefit greatly from multiple growth catalysts and value drivers accompanying its property sector.

Innovative Industrial: Join 6%-Yielding Leader With Multiple Growth Catalysts, Here's Why

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Like football, REIT investing is about gaining control of real estate. REITs are becoming more attractive to income investors as inflation remains below average REIT yield and interest rates fall. With one company from each of the 19 equity REIT sectors, I offer a starting lineup of 11 companies, 6 reserves, and 2 water boys, for a solid REIT portfolio.

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Innovative Industrial Properties has offered a lower volatility way to invest in the cannabis sector. The company maintains far less leverage than traditional net lease REITs. Management has done an exemplary job managing the storm of tenant defaults.

Innovative Industrial: Why It Is Time To Move To The Sidelines (Rating Downgrade)

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We are likely headed into a recession. Some investments are much more resilient to recessions. I highlight 2 of my top picks that are yielding up to 8.5%.

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As the U.S. cannabis industry continues its rapid expansion, cannabis-focused REITs (Real Estate Investment Trusts) are becoming essential investment vehicles. The industry is projected to grow significantly, with sales expected to reach $41 billion by 2025. This growth is driven by increasing state-level legalization and a rising number of cannabis operators. Recently, headlines have speculated about potential federal legalization, which could further accelerate the industry's expansion. Investors are now keenly watching cannabis REITs, which provide the critical real estate infrastructure needed for cultivation, processing, and retail operations. These REITs offer a unique opportunity to capitalize on the industry's growth while managing risk through diversified portfolios. Furthermore, many cannabis REITs pay attractive dividends, adding a steady income stream to their growth potential.

Top Cannabis REITs to Watch in Mid-August: Maximizing Growth and Dividends

The cannabis industry continues to show why it is one of the fastest-growing sectors. As more people become comfortable with legal cannabis so is the idea of investing. For a long while people were scared to invest in cannabis. Currently, cannabis is still illegal however over half of the USA and several global regions have thriving marijuana businesses. From this people have been lowering their guard and taking more chances and ways to invest.

3 Marijuana Stocks For Investors To Watch In 2024

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Difficult-to-short stocks are likely to lag the market. Few investors are aware of this tendency, much less act on it, because they instead focus on finding stocks that can outperform the market.

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Innovative Industrial Properties, Inc. (NYSE:IIPR ) Q2 2024 Results Conference Call August 6, 2024 1:00 PM ET Company Participants Brian Wolfe - VP, General Counsel, Secretary Alan Gold - Executive Chairman Paul Smithers - President, CEO & Director Ben Regin - Chief Investment Officer Catherine Hastings - Chief Operating Officer David Smith - CFO & Treasurer Conference Call Participants Tom Catherwood - BTIG Connor Mitchell - Piper Sandler Scott Fortune - Roth Capital Partners Eric Des Lauriers - Craig-Hallum Capital Group Operator Good day, and welcome to the Innovative Industrial Properties Second Quarter 2024 Earnings Conference Call. [Operator Instructions].

Innovative Industrial Properties, Inc. (IIPR) Q2 2024 Earnings Call Transcript

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High-quality REITs with higher yields than usual may be a good investment opportunity. Income investors may find U.S. treasuries more appealing due to lower risk and higher yields compared to most REITs. Seeking Alpha Premium offers a Dividend Safety grade for REITs. A grade of B- or better indicates a mere 1 in 50 risk of a dividend cut.

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