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Jun 30, 2022
IIPR Q2 2022 Earnings Report
IIP reported an increase in revenue, net income, and AFFO compared to the same period in 2021, driven by strategic acquisitions and property improvements.
Key Takeaways
Innovative Industrial Properties (IIP) announced its Q2 2022 financial results, reporting a revenue increase of 44% to $70.5 million compared to Q2 2021. The company's net income attributable to common stockholders was $39.9 million, or $1.42 per diluted share, and AFFO reached $60.1 million, or $2.14 per diluted share. IIP completed an underwritten public offering of common stock, generating net proceeds of approximately $330.9 million.
Total revenues increased by 44% to $70.5 million compared to the same period in 2021.
Net income attributable to common stockholders was approximately $39.9 million, or $1.42 per diluted share.
AFFO reached approximately $60.1 million, or $2.14 per diluted share.
A quarterly dividend of $1.75 per common share was paid on July 15, 2022, resulting in an annualized dividend of $7.00 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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