For Q1 FY2026 ended March 31, 2026, Innovative Industrial Properties reported revenue of $68.996 million, down 3.8% year-over-year. Net income was $32.809 million, up 5.6% from the prior year. Operating income was $32.909 million, down 3.1% year-over-year. Diluted EPS was $1.02, a decrease of 1.0%.
•Revenue decreased 3.8% YoY to $68.996 million.
•Net income increased 5.6% YoY to $32.809 million.
•Operating income decreased 3.1% YoY to $32.909 million.
•Diluted EPS was $1.02, down 1.0% YoY.
Informational summary based on SEC XBRL figures · generated by deepseek-v4-flash. Not investment advice.
Innovative Industrial Properties is a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialized industrial properties and life science real estate. Innovative Industrial Properties, Inc. was incorporated on June 15th 2016 in Maryland and is based in San Diego, California.
What does Innovative Industrial Properties, Inc. (IIPR) do?
Innovative Industrial Properties, Inc. (IIPR) is a real estate investment trust (REIT) that focuses on the acquisition, ownership, and management of specialized industrial properties and life science real estate. The company primarily serves the regulated cannabis industry in the United States by providing real estate capital through sale-leaseback transactions and other financing arrangements. Its properties are typically used for cannabis cultivation, processing, and distribution. As a REIT, IIPR is required to distribute at least 90% of its taxable income to shareholders in the form of dividends. The company was incorporated on June 15, 2016, in Maryland and is headquartered in San Diego, California.
Where is Innovative Industrial Properties (IIPR) listed and in which currency?
Innovative Industrial Properties, Inc. (IIPR) is listed on the New York Stock Exchange (NYSE) under the ticker symbol IIPR. The company trades in U.S. dollars (USD), as it is based in the United States. Being listed on the NYSE, one of the world's largest stock exchanges, provides IIPR with access to a broad base of institutional and retail investors. The NYSE listing also requires the company to meet stringent listing standards, including corporate governance and financial reporting requirements.
What sector and industry does Innovative Industrial Properties (IIPR) belong to?
Innovative Industrial Properties (IIPR) operates in the Real Estate sector, specifically within the REIT - Industrial industry. As a real estate investment trust, IIPR is focused on owning and managing income-producing industrial properties. The 'REIT - Industrial' classification indicates that the company's portfolio consists primarily of industrial real estate assets, such as warehouses and specialized facilities. In IIPR's case, these properties are tailored for the regulated cannabis industry, including cultivation and processing centers. This niche focus differentiates IIPR from traditional industrial REITs that may own more generic logistics or manufacturing properties.
Where is Innovative Industrial Properties (IIPR) headquartered and what is its history?
Innovative Industrial Properties (IIPR) is headquartered in San Diego, California, United States. The company was incorporated on June 15, 2016, in the state of Maryland. Since its founding, IIPR has grown to become a leading provider of real estate capital to the regulated cannabis industry. The company's strategy involves acquiring and leasing back industrial properties to licensed cannabis operators, allowing them to free up capital for their core business operations. As of the latest data, IIPR owns a portfolio of properties across multiple U.S. states where cannabis is legal for medical or adult use.
How does Innovative Industrial Properties (IIPR) make money?
Innovative Industrial Properties (IIPR) generates revenue primarily through rental income from its portfolio of industrial properties leased to tenants in the regulated cannabis industry. The company typically enters into long-term triple-net leases, where the tenant is responsible for property taxes, insurance, and maintenance costs. This structure provides IIPR with stable and predictable cash flows. Additionally, IIPR may earn income from property acquisitions and dispositions, as well as from financing arrangements such as mezzanine loans. As a REIT, IIPR must distribute at least 90% of its taxable income to shareholders, which means most of its earnings are paid out as dividends.