Innovative Industrial Properties Inc (N:IIPR)
Business Focus: N/A
| Sector: N/A | Industry: N/A |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1389 Center Drive, Suite 200 PARK CITY UT 84098 |
| Tel: | N/A |
| Website: | https://innovativeindustrialproperties.com |
| IR: | See website |
| Key People | ||
| Alan D. Gold Executive Chairman of the Board | Paul Smithers President, Chief Executive Officer, Director | David J. Smith Chief Financial Officer, Treasurer |
| Catherine Hastings Chief Operating Officer | Ben Regin Chief Investment Officer | Brian Wolfe Vice President, General Counsel, Secretary |
| Business Overview |
| Innovative Industrial Properties, Inc. is an internally managed real estate investment trust (REIT). The Company is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated cannabis facilities. The Company is engaged in the business of providing real estate for the regulated cannabis industry. It acquires its properties through sale-leaseback transactions and third-party purchases. The Company owns approximately d 108 properties comprising an aggregate of approximately 8.9 million rentable square feet (including approximately 1.4 million rentable square feet under development/redevelopment) in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington. Its subsidiaries include IIP-AZ 1 LLC, IIP-AZ 2 LLC, IIP-AZ 3 LLC, IIP-CA 2 LP, and IIP-CA 1 LP. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Innovative Industrial Properties Inc revenues increased 12% to $309.5M. Net income applicable to common stockholders increased 7% to $162.8M. Revenues reflect NAREIT FFO - Per Share - Diluted - Total increase of 7% to $8.2, Other revenue increase of 9% to $2.2M. Net income was partially offset by Depreciation and amortization expense increase of 10% to $67.2M (expense). |
| Employees: | 21 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $2,969M as of Dec 31, 2023 |
| Annual revenue (TTM): | $309.51M as of Dec 31, 2023 |
| EBITDA (TTM): | $245.12M as of Dec 31, 2023 |
| Net annual income (TTM): | $162.75M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$133.51M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $160.63M as of Dec 31, 2023 |
| Shares outstanding: | 28,328,647 as of Mar 15, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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