Logotype for Innovative Industrial Properties Inc

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.
Logotype for Innovative Industrial Properties Inc
Investor Presentation summary8 Aug, 2025

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.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Innovative Industrial Properties earnings date

Logotype for Innovative Industrial Properties Inc
Q3 20256 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Innovative Industrial Properties earnings date

Logotype for Innovative Industrial Properties Inc
Q3 20256 Nov, 2025

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.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

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.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
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.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
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.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
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.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
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.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
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.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. is based in New York City.

Quartr provides global coverage of all investor relation material from public companies.

  • 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.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage