Company: IIPR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038972
Chunk: 136

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 136
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 expense413 164 819 310 Loss (gain) on partial repayment of Notes due 2026— — (32)— Normalized FFO attributable to common stockholders (diluted)44,059 58,841 96,647 115,255 Income on seller-financed notes(2)1,164 403 1,317 806 Deferred lease payments received on sales-type leases(3)5 1,462 25 2,918 Stock-based compensation2,672 4,371 4,750 8,686 Non-cash interest expense476 401 946 789 Above-market lease amortization23 23 46 46 AFFO attributable to common stockholders (diluted)$48,399 $65,501 $103,731 $128,500 FFO per common share – diluted$1.54 $2.06 $3.37 $4.03 Normalized FFO per common share – diluted$1.56 $2.06 $3.40 $4.04 AFFO per common share – diluted$1.71 $2.29 $3.65 $4.50 Weighted average common shares outstanding – basic27,924,09228,250,84328,098,85028,197,930Restricted stock and RSUs393,601300,582353,261289,736PSUs—20,713—20,713Dilutive effect of Exchangeable Senior Notes———19,040Weighted average common shares outstanding – diluted28,317,69328,572,13828,452,11128,527,419

(1)Amount reflects the $3.9 million disposition-contingent lease termination fee received concurrently with the sale of our property in Los Angeles, California, net of the loss on sale of real estate of $3.4 million.

(2)Amount reflects the non-refundable cash payments received pursuant to two seller-financed notes issued to us by the buyers in connection with our disposition of certain properties which are recognized as a deposit liability and is included in other liabilities in our consolidated balance sheet as of June 30, 2025, as the transactions did not qualify for recognition as completed sales.

(3)Amount reflects the non-refundable lease payments received on two sales-type leases which are recognized as a deposit liability starting on January 1,