Innovative Indus Stock Price, News & Analysis

Innovative Industrial Properties (IIPR) announced a first quarter 2022 dividend of $1.75 per share, marking a 17% increase from the previous quarter's $1.50. This dividend translates to an annualized payment of $7.00 per share. Additionally, a quarterly dividend of $0.5625 per share is declared for the 9.00% Series A Preferred Stock. Both dividends are payable on April 14, 2022, to stockholders of record by March 31, 2022.

Innovative Industrial Properties, Inc. (IIPR) reported strong financial growth for FY 2021, with total revenues increasing 75% to approximately $204.6 million and net income rising 75% to about $112.6 million. Adjusted funds from operations (AFFO) surged by 78%, totaling $175.0 million. The company declared dividends of $5.72 per share, reflecting a 28% increase. IIPR expanded its portfolio significantly, investing $714 million in new acquisitions and enhancements, bringing total properties to 103 across 19 states. The firm secured a $300 million investment-grade senior notes issuance, enhancing its financial stability.

Innovative Industrial Properties (IIPR) has acquired a property in New Jersey for $35.4 million, partnering with Ascend Wellness Holdings (AWH) to establish a cannabis cultivation facility. IIP has committed an additional $4.6 million for tenant improvements, bringing the total expected investment to $40.0 million. AWH plans to enhance its New Jersey operations with a lab and a cultivation area by the end of 2023. This acquisition strengthens IIP's portfolio, with a total investment of approximately $179.75 million in properties leased to AWH.

Innovative Industrial Properties (NYSE: IIPR) will release its financial results for the fourth quarter and full year on February 23, 2022, after market close. An investor conference call will follow on February 24, 2022, at 10:00 a.m. PT, featuring key executives, including Executive Chairman Alan Gold and CEO Paul Smithers. Investors can access the live call via the company's website or by phone. A replay of the call will be available until March 3, 2022. IIPR specializes in acquiring and managing properties for state-licensed cannabis operators.

Innovative Industrial Properties (IIPR) has announced a public offering of $300 million in senior notes due 2027 through its Operating Partnership. These notes, guaranteed by the Company and its subsidiaries, are unsecured and rank equally with existing senior unsecured debt. The proceeds will be primarily used for investments in industrial real estate for the cannabis industry and for general corporate purposes. BTIG, LLC is the sole book-running manager for this offering. The registration statement has been effective as per the Securities and Exchange Commission.

Innovative Industrial Properties (IIPR) announced an amendment to its tax treatment regarding 2021 distributions. The total distribution per share was $6.96, with $5.34 allocable to 2021 as taxable dividends. For the common stock distribution on December 31, 2021, $0.10 is allocated to 2021 and $1.40 to 2022. IIPR did not incur foreign taxes for 2021. Shareholders are advised to consult tax professionals for specific treatment of distributions.

Innovative Industrial Properties, Inc. (IIPR) announced the tax treatment for its 2021 distributions. Total distribution per share amounted to $6.960000, with $5.340000 allocable to 2021 as taxable ordinary dividends. The press release details several quarterly distributions, with the most significant being $1.500000 per share for the last quarter of 2021. Notably, IIPR did not incur foreign taxes in 2021 and encourages shareholders to consult personal tax advisors regarding their specific tax situations.

Innovative Industrial Properties, Inc. (IIPR) reported its operational and capital activities from October 1, 2021, to January 5, 2022. IIPR owns 103 properties across 15 U.S. states, totaling 7.7 million rentable square feet with $1.7 billion invested. The company completed 29 acquisitions and established new tenant relationships. Capital activities included exchange agreements with holders of its 3.75% Senior Notes, mitigating potential dilution. As of the latest report, IIPR still has $231.7 million available under its equity offering program.

Innovative Industrial Properties (IIPR) declared a fourth quarter 2021 dividend of $1.50 per common share, equivalent to an annualized rate of $6.00 per share. This dividend is payable on January 14, 2022, to stockholders of record as of December 31, 2021. Additionally, a quarterly dividend of $0.5625 per share for the Series A Cumulative Redeemable Preferred Stock was also announced. The board reviews dividends every six months, but adjustments are at their discretion.