Company: IIPR
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001677576-25-000005
Chunk: 41

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 2024, respectively28 28 Additional paid-in capital2,110,486 2,124,113 Dividends in excess of earnings(289,916)(211,713)Total stockholders’ equity1,863,341 1,936,060 Total liabilities and stockholders’ equity$2,337,914 $2,378,047 

See the accompanying notes to the consolidated financial statements.

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Table of Contents

Innovative Industrial Properties, Inc.

Consolidated Statements of Income

(Unaudited)

(In thousands, except share and per share amounts)

For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024Revenues:Rental (including tenant reimbursements)$64,292 $76,052 $198,855 $230,219 Other393 474 443 1,554 Total revenues64,685 76,526 199,298 231,773 Expenses:Property expenses7,951 7,295 22,197 20,867 General and administrative expense8,681 9,330 25,768 28,553 Depreciation and amortization expense18,639 17,944 55,530 52,567 Impairment loss on real estate— — 3,527 — Total expenses35,271 34,569 107,022 101,987 Gain (loss) on sale of real estate— — — (3,449)Income from operations29,414 41,957 92,276 126,337 Interest and other income4,416 2,685 7,599 8,435 Interest expense(4,525)(4,427)(13,469)(13,136)Net income29,305 40,215 86,406 121,636 Preferred stock dividends(1,017)(564)(2,676)(1,240)Net income attributable to common stockholders$28,288 $39,651 $83,730 $120,396 Net income attributable to common stockholders per share (Note 9):Basic$0.99 $1.38 $2.91 $4.21 Diluted$0.97 $1.37 $2.87 $4.16 Weighted-average shares outstanding: