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Sep 30, 2022
IIPR Q3 2022 Earnings Report
IIP generated increased revenues and net income, driven by property acquisitions and leasing.
Key Takeaways
Innovative Industrial Properties (IIP) reported a 32% increase in total revenues for the third quarter of 2022, reaching $70.9 million compared to $53.9 million in the same period of 2021. Net income attributable to common stockholders was approximately $37.3 million, or $1.32 per diluted share. The company's growth was primarily driven by the acquisition and leasing of new properties, infrastructure allowances to tenants, and contractual rental escalations.
Total revenues increased by 32% year-over-year to $70.9 million.
Net income attributable to common stockholders was $37.3 million, or $1.32 per diluted share.
AFFO per diluted share was $2.13.
A quarterly dividend of $1.80 per common share was paid.
Forward Guidance
IIP did not provide specific forward guidance in the provided document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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