Innovative Industrial Properties 8-K Filing Transformed into News Article:

Posted by on Nov 10th, 2024

Innovative Industrial Properties, Inc. Announces Financial Results for Third Quarter

Innovative Industrial Properties, Inc., a real estate investment trust (REIT) focused on specialized properties for regulated cannabis facilities, has recently disclosed its financial performance for the third quarter ending September 30, 2024. The company issued a press release on November 6, 2024, outlining its quarterly results.

According to the report attached to the filing, the company reported total revenues of $76,526 for the quarter. This figure represents a slight decrease from the previous quarter’s $79,793. Net income attributable to common stockholders was reported at $39,651, showing consistency in performance compared to the prior quarter.

Additionally, the company provided supplemental financial information for the third quarter on its website. The data included breakdowns of Quarterly Performance Summary, Balance Sheet, Net Income, Funds from Operations (FFO), Adjusted Funds from Operations (AFFO), and historical comparisons for various financial metrics.

The company’s operating portfolio, consisting of 105 properties, reported an occupancy rate of 95.7% as of September 30, 2024. The report also detailed leasing information, tenant diversification, secured loans, and capital commitments for the upcoming period.

In terms of financial indicators, Innovative Industrial Properties reaffirmed its financial standing by maintaining an investment-grade credit rating of BBB+ as of the reporting date. The company’s capitalization structure includes outstanding unsecured debt of $300 million, Series A Preferred Stock totaling $25,067

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Innovative Industrial Properties’s 8K filing here.

About Innovative Industrial Properties

(Get Free Report)

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.

See Also