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Mar 31, 2021
IIPR Q1 2021 Earnings Report
IIP reported Q1 2021 results, showcasing significant year-over-year growth driven by acquisitions and portfolio performance.
Key Takeaways
Innovative Industrial Properties (IIP) announced strong first-quarter results, with a 103% increase in total revenues, a 122% increase in net income, and a 116% increase in AFFO, driven by strategic acquisitions and portfolio performance.
Total revenues increased by 103% year-over-year to $42.9 million.
Net income attributable to common stockholders rose by 122% year-over-year to $25.6 million, with EPS of $1.05.
AFFO increased by 116% year-over-year to $38.4 million, with AFFO per diluted share of $1.47.
As of May 5, 2021, IIP owned 69 properties across 18 states, 100% leased with a weighted-average remaining lease term of approximately 16.7 years.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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