Company: IIPR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038972
Chunk: 72

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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June 30,For the Six Months EndedJune 30,2025202420252024Net income attributable to common stockholders$25,146 $41,655 $55,442 $80,745 Real estate depreciation and amortization18,500 17,473 36,891 34,623 Impairment loss on real estate— — 3,527 — Disposition-contingent lease termination fee, net of loss on sale of real estate(1)— (451)— (451)FFO attributable to common stockholders (basic)43,646 58,677 95,860 114,917 Cash and non-cash interest expense on Exchangeable Senior Notes— — — 28 FFO attributable to common stockholders (diluted)43,646 58,677 95,860 114,945 Litigation-related 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