)

Innovative Industrial Properties (IIPR) investor relations material
Innovative Industrial Properties Investor Presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Key financial and operational highlights
$2.5B total committed/invested capital across 108 properties in 19 states, with $62.9M Q2 2025 revenue and a $7.60 annualized dividend per share as of June 30, 2025.
Weighted average lease length is 13.1 years, with 9.0M rentable square feet and annual escalations built into leases.
Portfolio is diversified by geography and tenant, with top 10 states accounting for 89.6% of annualized base rent and 90% of properties classified as industrial.
Top tenants include PharmaCann, AWH, Green Thumb, and Curaleaf, with 65% of tenants public and 89% multi-state operators.
Balance sheet remains strong with 11% debt to total gross assets, $192M+ liquidity, and an undrawn $87.5M credit facility.
Business model and strategy
Focuses on long-term, triple-net leases (15–20 years) with parent company guarantees and no recurring capital expenditures for the landlord.
Provides sale-leasebacks and funds improvements for cultivation, processing, and retail properties, aligning closely with state-licensed cannabis operators.
Attractively priced financing maximizes tenant access to capital and supports their growth plans.
Diligent underwriting and ongoing monitoring of tenants, including financial reviews and operational meetings.
Market and industry trends
U.S. legal cannabis sales reached $31.4B in 2024, projected to grow to $44B by 2029, a 7% CAGR.
79% of Americans live in a county where marijuana is legal for medical or recreational use; 54% live in a state with legal recreational use.
Cannabis tax revenue totaled $24.7B since 2014, with $4.4B collected in 2024 alone; in some states, cannabis tax revenue exceeds alcohol taxes.
Increasing institutional adoption, with ~13% of FDIC banks offering services to marijuana-related businesses in 2024.
Next Innovative Industrial Properties earnings date

Next Innovative Industrial Properties earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage