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Mar 31, 2024
IIPR Q1 2024 Earnings Report
IIP reported a decrease in revenue primarily due to decline in contractual rent and property management fees but was offset by contractual rent escalations and amendments to leases.
Key Takeaways
Innovative Industrial Properties (IIP) announced its first quarter 2024 results, with total revenues of $75.5 million and net income attributable to common stockholders of $39.1 million, or $1.36 per share.
Total revenues were $75.5 million, a 1% decrease compared to the same period in 2023.
Net income attributable to common stockholders was $39.1 million, or $1.36 per share.
FFO was $56.3 million, or $1.98 per share.
IIP paid a quarterly dividend of $1.82 per common share on April 15, 2024.
Forward Guidance
No specific forward guidance was provided in the press release.
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