Innovative Indus Stock Price, News & Analysis

Innovative Industrial Properties, Inc. (NYSE: IIPR) will release its first-quarter results for the period ending March 31, 2023 on May 8, 2023, after market hours. The company will host an investor conference call at 10:00 a.m. Pacific Time on May 9, 2023, to discuss its financial performance and operations for the quarter. Interested parties can access the call via the company's Investor Relations website or by phone. The call will also be archived for future listening. Innovative Industrial Properties focuses on acquiring and managing specialized industrial properties leased to licensed cannabis operators and is structured as a real estate investment trust (REIT) since 2017.

Innovative Industrial Properties (IIPR) has declared a cash dividend of $1.80 per common share for Q1 2023, increasing the total dividends to $7.15 per share over the past twelve months, which is a 16% increase from the previous year. The quarterly dividend is payable on April 14, 2023, to stockholders of record by March 31, 2023. Furthermore, a quarterly dividend of $0.5625 has been declared for the 9.00% Series A Cumulative Redeemable Preferred Stock.

Innovative Industrial Properties (IIPR) reported strong financial results for FY 2022, with total revenues of $276.4 million, a 35% increase year-over-year. Net income attributable to common stockholders reached $153 million, growing 36%, while AFFO increased by 34% to $233.7 million. The company declared a total annual dividend of $7.10 per share, marking a 24% rise. In Q4 2022, revenues were $70.5 million, up 20% from the previous year, with net income of $41.2 million. IIPR expanded its portfolio to 110 properties across 19 states and amended existing leases to increase funds for real estate improvements by $34 million.

Innovative Industrial Properties (NYSE: IIPR) will report its fourth quarter and year-end financial results on February 27, 2023, after market close. An investor conference call led by key executives, including Alan Gold and Paul Smithers, is scheduled for February 28, 2023, at 10:00 a.m. PT, to discuss these results. Investors can access the call via a webcast on the company’s website or by calling provided numbers. The call will be archived for 90 days. Innovative Industrial Properties focuses on acquiring and managing properties leased to licensed operators in the cannabis industry and operates as a real estate investment trust since 2017.

Innovative Industrial Properties (IIPR) announced the tax treatment of its 2022 distributions, revealing a total distribution of $8.60 per share, with $7.03 allocable to 2022 and $6.93 being taxable ordinary dividends. Notably, the distribution with the record date of December 30, 2022, consists of a split-year distribution, with $0.33 allocated to 2022 and $1.47 to 2023. The company incurred no foreign taxes in 2022, indicating tax efficiency. Shareholders are advised to consult their tax advisors regarding their individual tax implications from these distributions. IIPR focuses on managing properties for regulated cannabis operations.

Innovative Industrial Properties (IIPR) reported its operating and investment activities for 2022, owning 110 properties across 19 states, totaling 8.7 million rentable square feet. The operating portfolio is 100% leased with a weighted-average lease length of 15.3 years. Rent collection remains strong, with 97% collected for the year ended December 31, 2022. However, some tenants, including Parallel and Skymint, are in default on their rent obligations, impacting approximately 5.6% of invested capital. IIPR is exploring alternative uses for certain properties in California and has ongoing negotiations for new leases. The company has a low debt-to-asset ratio at 12%, with no secured debt.

Innovative Industrial Properties (IIPR) announced a Q4 2022 cash dividend of $1.80 per common share, contributing to a total of $7.10 declared in 2022, a 24% increase from 2021's $5.72. Additionally, a quarterly dividend of $0.5625 per share of the 9.00% Series A Cumulative Redeemable Preferred Stock was declared. Both dividends are payable on January 13, 2023, to stockholders recorded by December 30, 2022.

Innovative Industrial Properties reported third quarter 2022 results with total revenues of approximately $70.9 million, a 32% increase year-over-year. Net income was about $37.3 million, or $1.32 per diluted share, and AFFO reached approximately $60.1 million, or $2.13 per diluted share. A quarterly dividend of $1.80 per common share was declared on October 14, 2022, marking a 25% dividend increase from the previous year. Year-to-date revenues totaled $205.9 million, reflecting a 41% growth compared to the prior year.

Innovative Industrial Properties, Inc. (NYSE: IIPR) announced it will report its third-quarter results for the period ending September 30, 2022, after market close on November 2, 2022. An investor conference call is scheduled for November 3, 2022, at 10:00 a.m. Pacific Time, where company executives will discuss financial results and operations. The call will be accessible via audio webcast on the company’s website and by telephone for both domestic and international participants.