Security
Innovative Industrial Properties, Inc.9.00 Percent Series A Cumulative Redeemable Preferred Stock · IIPR PRA
IIPR PRANYSEPreferred stockCurrentCIK 1677576Updated Oct 14, 2026
IIPR PRA price & chart
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About the company
Innovative Industrial Properties, Inc. is an internally managed real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities and financial investments in the life science industry. Additional information is available at www.innovativeindustrialproperties.com.
In the news
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SEC disclosures
Recent filings
4 filing
424B5 filing
FWP - filed by INNOVATIVE INDUSTRIAL PROPERTIES INC regarding INNOVATIVE INDUSTRIAL PROPERTIES INC
424B5 filing
Entry into a Material Definitive Agreement · Regulation FD Disclosure
Items 1.01, 7.01, 9.01
Show 5 more recent filings
Financials
FY 2025 · USDSource
Source
balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 2,370,858,000Source | 2,378,047,000Source | 2,391,090,000Source | 2,414,836,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 47,597,000Source | 146,245,000Source | 140,249,000Source | 87,122,000Source |
| Operating Lease, Right-of-Use AssetUSD | 509,000Source | 946,000Source | 1,355,000Source | 1,739,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 522,854,000Source | 441,987,000Source | 438,118,000Source | 452,943,000Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 47,780,000Source | 23,632,000Source | 14,009,000Source | 14,009,000Source |
| Common Stock, Value, IssuedUSD | 28,000Source | 28,000Source | 28,000Source | 28,000Source |
| Stockholders' Equity Attributable to ParentUSD | 1,848,004,000Source | 1,936,060,000Source | 1,952,972,000Source | 1,961,893,000Source |
| Additional Paid in Capital, Common StockUSD | 2,113,184,000Source | 2,124,113,000Source | 2,095,789,000Source | 2,065,248,000Source |
| Liabilities and EquityUSD | 2,370,858,000Source | 2,378,047,000Source | 2,391,090,000Source | 2,414,836,000Source |
| Additional Financial Items | ||||
| Dividends PayableUSD | 54,913,000Source | 54,817,000Source | 51,827,000Source | 50,840,000Source |
| Long-term DebtUSD | 393,715,000Source | — | — | — |
| Short-term InvestmentsUSD | 0Source | 5,000,000Source | 21,948,000Source | 200,935,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 118,247,000Source | 161,661,000Source | 165,588,000Source | 154,386,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 74,068,000Source | 70,807,000Source | 67,194,000Source | 61,303,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 10,132,000Source | 17,317,000Source | 19,581,000Source | 17,507,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 198,189,000Source | 258,446,000Source | 255,543,000Source | 234,130,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -174,301,000Source | -55,996,000Source | -6,788,000Source | -396,201,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 864,000Source | 750,000Source | 568,000Source | 2,441,000Source |
| Payments for Repurchase of Common StockUSD | 20,108,000Source | — | — | — |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -122,536,000Source | -197,904,000Source | -195,628,000Source | 164,224,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 216,275,000Source | 211,953,000Source | 202,711,000Source | 183,943,000Source |
| Repayments of Long-term DebtUSD | 8,697,000Source | — | — | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 47,597,000Source | 146,245,000Source | 141,699,000Source | 88,572,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 17,412,000Source | 16,051,000Source | 16,125,000Source | 17,247,000Source |
| Additional Financial Items | ||||
| Amortization of Debt Issuance Costs and DiscountsUSD | 1,999,000Source | 1,669,000Source | 1,371,000Source | 1,349,000Source |
| DepreciationUSD | 73,000,000Source | 69,900,000Source | 66,300,000Source | 60,500,000Source |
| Dividends PayableUSD | 54,913,000Source | 54,817,000Source | 51,827,000Source | 50,840,000Source |
| Gains (Losses) on Sales of Investment Real EstateUSD | -326,000Source | -3,449,000Source | — | 3,601,000Source |
| General and Administrative ExpenseUSD | 33,735,000Source | 37,444,000Source | 42,832,000Source | 38,520,000Source |
| Induced Conversion of Convertible Debt ExpenseUSD | — | — | — | 125,000Source |
| InterestExpenseNonoperatingUSD | 20,195,000Source | 17,672,000Source | — | — |
| Investment Income, InterestUSD | — | 10,988,000Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | 118,247,000Source | 161,661,000Source | 165,588,000Source | 154,386,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 114,435,000Source | 159,857,000Source | 164,236,000Source | 153,034,000Source |
| Operating ExpensesUSD | 141,507,000Source | 136,723,000Source | 134,919,000Source | 110,343,000Source |
| Operating Lease, ExpenseUSD | 500,000Source | 500,000Source | — | — |
| Operating Lease, Lease IncomeUSD | 265,486,000Source | 306,936,000Source | 307,349,000Source | 274,377,000Source |
| Payments of Financing CostsUSD | 0Source | 567,000Source | 561,000Source | — |
| Proceeds from Issuance of Common StockUSD | 0Source | 11,757,000Source | 9,564,000Source | 351,960,000Source |
income statement · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| Total RevenueUSD | 308,517,000Source | 309,506,000Source | 276,359,000Source | 204,551,000Source |
| Operating Income (Loss)USD | 168,345,000Source | 174,587,000Source | 169,617,000Source | 135,371,000Source |
| Net Income (Loss) Attributable to ParentUSD | 161,661,000Source | 165,588,000Source | 154,386,000Source | 113,990,000Source |
| Earnings Per Share, BasicUSD per share | 5.58Source | 5.82Source | 5.57Source | 4.69Source |
| Earnings Per Share, DilutedUSD per share | 5.52Source | 5.77Source | 5.52Source | 4.55Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 28,226,402Source | 27,977,807Source | 27,345,047Source | 23,903,017Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 28,530,650Source | 28,255,797Source | 27,663,169Source | 26,261,155Source |
| Interest Expense (non-operating)USD | 17,672,000Source | — | — | — |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | — | — | — | 33,000Source |
| Gains (Losses) on Sales of Investment Real EstateUSD | -3,449,000Source | — | 3,601,000Source | — |
| General and Administrative ExpenseUSD | 37,444,000Source | 42,832,000Source | 38,520,000Source | 22,961,000Source |
| Interest and Other IncomeUSD | — | 8,446,000Source | 3,195,000Source | 397,000Source |
| Interest ExpenseUSD | — | 17,467,000Source | 18,301,000Source | 18,086,000Source |
| Investment Income, InterestUSD | 10,988,000Source | — | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 159,857,000Source | 164,236,000Source | 153,034,000Source | 112,638,000Source |
| Operating ExpensesUSD | 136,723,000Source | 134,919,000Source | 110,343,000Source | 69,180,000Source |
| Operating Lease, ExpenseUSD | 500,000Source | — | — | — |
| Operating Lease, Lease IncomeUSD | 306,936,000Source | 307,349,000Source | 274,377,000Source | 204,551,000Source |
| Preferred Stock Dividends, Income Statement ImpactUSD | 1,804,000Source | 1,352,000Source | 1,352,000Source | 1,352,000Source |
| Revenue Not from Contract with Customer, OtherUSD | 1,581,000Source | 2,157,000Source | 1,982,000Source | — |
| Undistributed Earnings (Loss) Allocated to Participating Securities, BasicUSD | 2,254,000Source | 1,482,000Source | 834,000Source | 557,000Source |
Filing attachments
tm2626535d1_ex99-1.htm · 8-K · 2026-10-01
Exhibit 99.1 Innovative Industrial Properties Announces Mezzanine Loan Commitment of $245 Million for Alewife Park Investment Expected to Yield 15.8% and Generate Significant Earnings Accretion for IIP Shareholders Investment Expands on IIP's Commitment to Diversify into the Life Science Sector SAN DIEGO, CA - October 1, 2026 - Innovative Industrial Properties, Inc. (NYSE: IIPR) ("IIP" or the "Company") announced today that it entered into definitive agreements to provide $245 million under…
Read attachment ↗tm2626535d1_ex99-2.htm · 8-K · 2026-10-01
Exhibit 99.2 Innovative Industrial Properties 1 INNOVATIVE INDUSTRIAL PROPERTIES NYSE: IIPR INNOVATIVEINDUSTRIALPROPERTIES. COM COMPANY PRESENTATION – OCTOBER 2026 ──────────────────────────────────────────────────────────── Innovative Industrial Properties 2 This presentation and our associated comments includes "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and S…
Read attachment ↗tm2617982d1_ex4-1.htm · 8-K · 2026-06-15
EX-4.1 2 tm2617982d1_ex4-1.htm EXHIBIT 4.1 Exhibit 4.1 IIP OPERATING PARTNERSHIP, LP, as Issuer INNOVATIVE INDUSTRIAL PROPERTIES, INC, as Guarantor ARGENT INSTITUTIONAL TRUST COMPANY, as Trustee INDENTURE Dated as of June 15, 2026 6.000% Exchangeable Senior Notes due 2029 TABLE OF CONTENTS Page ARTICLE 1 DEFINITIONS …
Read attachment ↗tm2617694d1_ex99-1.htm · 8-K · 2026-06-11
EX-99.1 2 tm2617694d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Innovative Industrial Properties Announces Launch of $250.0 Million Exchangeable Senior Notes Offering SAN DIEGO, CA - June 9, 2026 - Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today that its operating partnership, IIP Operating Partnership, LP (the “Operating Partnership”), intends to offer, subject to market and other conditions, $250.0 million aggregate principal amount of exchangeable senior n…
Read attachment ↗tm2617694d1_ex99-2.htm · 8-K · 2026-06-11
EX-99.2 3 tm2617694d1_ex99-2.htm EXHIBIT 99.2 Exhibit 99.2 Innovative Industrial Properties Prices Upsized Private Offering of Exchangeable Senior Notes Due 2029 SAN DIEGO, CA - June 10, 2026 - Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today the pricing of a private offering of $350.0 million aggregate principal amount of 6.0% exchangeable senior notes due 2029 (the “notes”) of its operating partnership, IIP Operating Partnership, LP (the “Operating Part…
Read attachment ↗tm2615105d1_ex99-1.htm · 8-K · 2026-05-20
EX-99.1 6 tm2615105d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Innovative Industrial Properties Announces Closing of $45 Million in Secured Term Loans SAN DIEGO, CA - May 20, 2026 - Innovative Industrial Properties, Inc. (IIP) (NYSE: IIPR) announced today it has closed on four secured term loans totaling $44.9 million in gross proceeds (the “Loans”). The Loans have an initial term of five years, bear interest at a fixed rate of 6.67% and are secured by certain properties of the Company. The pr…
Read attachment ↗