Cannabis stocks are buzzing with optimism on the back of widespread positive updates. Germany recently legalized pot for recreational use, while Canada is rethinking cannabis taxes. Moreover, Florida is eyeing legalization through a November ballot. These positive developments are pushing cannabis stocks to fresh highs, offering a healthy upside ahead.Furthermore, we’re seeing cannabis’ legal status evolve, and public support in the U.S. is hitting record levels. With global sentiment shifting towards accep ...

In the latest trading session, Innovative Industrial Properties (IIPR) closed at $98.98, marking a +1.22% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.74%. Elsewhere, the Dow saw a downswing of 0.01%, while the tech-heavy Nasdaq appreciated by 1.68%.The the stock of company has risen by 0.11% in the past month, leading the Finance sector's loss of 3.65% and undershooting the S&P 500's gain of 0.8%.The upcoming earnings release of Innovative Industrial Pr ...

Morsa Images Dear readers, Innovative Industrial Properties, Inc. (NYSE:IIPR) is a cannabis REIT which owns just over a hundred properties located across the country. Similarly to its peer NewLake Capital Partners, Inc. (OTCQX:NLCP), it operates primarily in license-limited states, which significantly lowers new competition due to higher barriers of entry and reduces the risk because the license is often tied to the property which makes re-leasing (in case of tenant default or lease expiry) a lot easier. Th ...

Slowly but surely, whispers and rumors of widespread cannabis legalization are swirling to the surface. Though cannabis stocks’ last big run, in the late 2010s, far eclipses today’s market and per-share pricing, we’re gradually seeing top cannabis stocks to buy tick upward. The most recent bullish tailwinds are multi-pronged and global, with Germany and Florida alike angling toward more widespread recreational legalization.We may be finally seeing the cannabis domino effect come into existence as legalizati ...

Are real estate stocks heading for a tumble? Increasingly, short sellers are betting that real estate is in for a difficult time in 2024 and beyond. It’s not hard to see why. There are several reasons for concern for the sector. Higher interest rates have a dramatic negative impact on the value of existing real estate, as it costs more for landlords to service the debts on their properties. In addition, as the yields on alternative investments, such as government bonds, go up, the value of real estate stock ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From _______to ________ Commission File Number: 001-37949 Maryland 81-2963381 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Ide ...

Innovative Industrial Properties, Inc. (NYSE:IIPR) Q4 2023 Earnings Conference Call February 27, 2024 1:00 PM ET Company Participants Brian Wolfe - General Counsel Alan Gold - Executive Chairman Paul Smithers - President & Chief Executive Officer Ben Regin - Chief Investment Officer Catherine Hastings - Chief Operating Officer David Smith - Chief Financial Officer Conference Call Participants Tom Catherwood - BTIG Scott Fortune - ROTH MKM Alexander Goldfarb - Piper Sandler Eric Des Lauriers - Craig-Hallum C ...

Exhibit 99.1 Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2023 Results FY 2023 Net Income and AFFO Per Share Increased 5% and 7% over 2022, Respectively SAN DIEGO, CA – February 26, 2024 – Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today results for the fourth quarter and year ended December 31, 2023. Full Year 2023 | | | | | | Years Ended ...

Lease Expiration Schedule as of September 30, 2023(1) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------|--------------------------------------|-------|-------------|---------------|--------|---------------------|------------------------|-----------------------------------|---------| | | IIP Portfolio \nAnnualized Base Rent | \n(1) | (2) | ABR | # of | Second Quarter 2023 | (3) \nAdjusted (4) | Tenant Information \nMarket (5) | MSO (6) | | # Tena ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2023 were $78 million, a 10% increase from Q3 2022, driven by increased tenant reimbursements and contractual rental escalations [2][15][64] - Net income attributable to common stockholders was $41 million or $1.45 per share [2] - Adjusted funds from operations (AFFO) for Q3 was $65 million or $2.29 per share, a 7.5% increase compared to $2.13 per share in Q3 2022 [3][65] - The dividend declared was $1.80 per share, equivalent to an annualized dividend of $7.20 per share, with a payout ratio of 79% of AFFO [15][66] Business Line Data and Key Metrics Changes - Rent collection for the operating portfolio was 97% for the quarter, with the 3% not collected primarily due to a defaulted tenant [15][45] - The company has regained possession of properties from tenants such as Parallel, Green Peak, and Kings Garden, focusing on re-leasing efforts [21][26] Market Data and Key Metrics Changes - The regulated cannabis industry in the U.S. is projected to grow to $29.5 billion in 2023, representing approximately a 12% growth from 2022 [28] - Unit pricing for regulated cannabis products has been under pressure at the wholesale level due to supply-demand dynamics and macroeconomic conditions [29] - The funding environment for U.S. cannabis operators is significantly challenged, with capital raising and M&A activity at their lowest levels since before 2018 [9] Company Strategy and Development Direction - The company aims to maintain access to multiple capital markets and has closed a $30 million revolving credit facility to enhance liquidity [5][67] - The company is strategically reducing overall investment activity due to macroeconomic uncertainties and is being selective in evaluating potential investment opportunities [54] - The management is optimistic about legalization trends and believes their expertise and portfolio position them well for future growth [68] Management's Comments on Operating Environment and Future Outlook - Management noted that the cannabis industry continues to perform well, with 40 states now having adult-use or medical cannabis [8] - The potential reclassification of cannabis from Schedule I to Schedule III is seen as a significant positive development, particularly regarding the 280E tax implications [20][78] - Management expressed cautious optimism about the future, highlighting the importance of addressing illicit market dynamics and improving access to capital for operators [111][112] Other Important Information - The company has a strong balance sheet with a debt-to-gross assets ratio of less than 12% and no meaningful debt maturities until May 2026 [36][61] - The company is actively monitoring regulatory developments, including the potential rescheduling of cannabis and its implications for the industry [17][19] Q&A Session Summary Question: How is the business outlook for tenants trending? - Management noted modest improvements in wholesale pricing and ongoing litigation resolutions, indicating a positive trend for tenants [69][70] Question: Can you provide an update on litigation expenses? - Management confirmed ongoing litigation but emphasized a positive resolution in Pennsylvania with a judgment in their favor [70] Question: What is the impact of the recent lease amendment with Goodness Growth? - The committed capital for the property has increased to approximately $81 million following the lease amendment [118] Question: How does the company view the risks associated with New York? - Management acknowledged the challenges in New York but remains optimistic about its long-term growth potential [120][121] Question: What is the impact of the Skymint assets on rental revenues? - Management clarified that the impact on rent collection from Skymint is minimal, as the affected properties represent only a small percentage of total assets [125]