\n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nJune 30,<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \nDecember 31,<\/b><\/p><\/td><\/tr>\n\n\nAssets<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td><\/tr>\n\n\nReal estate, at cost:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLand<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n141,289<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n146,320<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nBuildings and improvements<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,189,885<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,269,597<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nConstruction in progress<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n34,769<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n40,593<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal real estate, at cost<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,365,943<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,456,510<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLess accumulated depreciation<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(369,450<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(343,062<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nNet real estate held for investment<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,996,493<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,113,448<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLife science investments<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n275,888<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n152,665<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLoans receivable<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n71,800<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n22,800<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCash and cash equivalents<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n204,734<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n47,597<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nRestricted cash<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,903<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIn-place lease intangible assets, net<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,515<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,366<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther assets, net<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n24,308<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n27,982<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal assets<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2,581,641<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2,370,858<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLiabilities and stockholders\u2019 equity<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLiabilities:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNotes due 2026, net<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n290,602<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nExchangeable notes, net<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n391,163<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTerm loans, net<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n125,370<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nRevolving credit facilities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n92,500<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n102,500<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nBuilding improvements and construction funding payable<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n789<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,964<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAccounts payable and accrued expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n8,354<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n10,870<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDividends payable<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n56,314<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n54,913<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nRent received in advance and tenant security deposits<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n44,710<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n50,307<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther liabilities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n10,842<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n10,698<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal liabilities<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n730,042<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n522,854<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCommitments and contingencies<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nStockholders\u2019 equity:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPreferred stock, par value $0.001 per share, 50,000,000 shares authorized: 9.00% Series A cumulative redeemable preferred stock, liquidation preference of $25.00 per share, 5,666,082 and 2,019,525 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n128,995<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n47,780<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nCommon stock, par value $0.001 per share, 50,000,000 shares authorized: 27,571,349 and 28,022,975 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAdditional paid-in capital<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,072,317<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,113,184<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDividends in excess of earnings<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(349,741<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(312,988<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nTotal stockholders\u2019 equity<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,851,599<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,848,004<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal liabilities and stockholders\u2019 equity<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2,581,641<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2,370,858<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n\n\nINNOVATIVE INDUSTRIAL PROPERTIES, INC.<\/b><\/p> \nCONSOLIDATED STATEMENTS OF INCOME<\/b><\/p> \nFor the Three and Six Months Ended June 30, 2026 and 2025<\/b><\/p> \n(Unaudited)<\/b><\/p> \n(In thousands, except share and per share amounts)<\/p><\/td><\/tr>\n | \n| \n | \n | \n | \n | \u00a0<\/td>\n<\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nFor the Three Months Ended<\/b>June 30,<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \nFor the Six Months Ended<\/b>June 30,<\/b><\/p><\/td><\/tr>\n\n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td><\/tr>\n\n\nRevenues:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nRental (including tenant reimbursements)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n62,890<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n62,866<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n131,810<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n134,563<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nOther<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n425<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n25<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n501<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n50<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal revenues<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n63,315<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n62,891<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n132,311<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n134,613<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nExpenses:<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nProperty expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n7,196<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n6,867<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n14,772<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n14,246<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nGeneral and administrative expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n7,719<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n8,626<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n18,068<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n17,087<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDepreciation and amortization expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n18,799<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n18,500<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n37,383<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n36,891<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nImpairment loss on real estate<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,527<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTotal expenses<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n33,714<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n33,993<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n70,223<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n71,751<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nGain (loss) on sale of real estate, net<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n11,847<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n12,269<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome from operations<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n41,448<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,898<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n74,357<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n62,862<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInterest and other income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n10,752<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,570<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n17,083<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,183<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nInterest expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(8,348<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(4,444<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(14,779<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(8,944<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nNet income<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n43,852<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n26,024<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n76,661<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n57,101<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nPreferred stock dividends<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(3,187<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(878<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(5,841<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(1,659<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nNet income attributable to common stockholders<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n40,665<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n25,146<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n70,820<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n55,442<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNet income attributable to common stockholders per share:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nBasic<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.39<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.87<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2.43<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.92<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDiluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.36<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n0.86<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n2.39<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.90<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nWeighted-average shares outstanding:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nBasic<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,443,143<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n27,924,092<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,218,773<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,098,850<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDiluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n29,992,248<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,317,693<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n29,233,929<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,452,111<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n\n\nINNOVATIVE INDUSTRIAL PROPERTIES, INC.<\/b><\/p> \nFFO, NORMALIZED FFO AND AFFO<\/b><\/p> \nFor the Three and Six Months Ended June 30, 2026 and 2025<\/b><\/p> \n(Unaudited)<\/b><\/p> \n(In thousands, except share and per share amounts)<\/p><\/td><\/tr>\n | \n| \n | \n | \n | \n | \u00a0<\/td>\n<\/tr>\n | \n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \nFor the Three Months Ended\nJune 30,<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \nFor the Six Months Ended\nJune 30,<\/b><\/p><\/td><\/tr>\n\n\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n2026<\/b><\/p><\/td> | \n\u00a0<\/p><\/td> | \n2025<\/b><\/p><\/td><\/tr>\n\n\nNet income attributable to common stockholders<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n40,665<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n25,146<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n70,820<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n55,442<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nReal estate depreciation and amortization<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n18,799<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n18,500<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n37,383<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n36,891<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nImpairment loss on real estate<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,527<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLoss (gain) on sale of real estate, net<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(11,847<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(12,269<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nFFO attributable to common stockholders<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n47,617<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n43,646<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n95,934<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n95,860<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nLitigation-related expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,312<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n413<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n3,182<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n819<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nIncome on seller-financed notes(1)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n223<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,164<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n446<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,317<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDeferred lease payments received on sales-type leases(2)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n525<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n700<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n25<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nTransaction costs and other(3)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(463<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(463<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(32<\/p><\/td> | \n)<\/p><\/td><\/tr>\n | \n\nNormalized FFO attributable to common stockholders<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n49,214<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n45,228<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n99,799<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n97,989<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nStock-based compensation<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,826<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n2,672<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n5,410<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n4,750<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNon-cash interest expense<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,281<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n476<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n1,857<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n946<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNon-cash accretion of life science investments<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(335<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n(669<\/p><\/td> | \n)<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u2014<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAbove-market lease amortization<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n23<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n23<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n46<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n46<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAFFO attributable to common stockholders<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n53,009<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n48,399<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n106,443<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n103,731<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nFFO per common share \u2013 diluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.64<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.54<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3.34<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3.37<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nNormalized FFO per common share \u2013 diluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.70<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.60<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3.47<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3.44<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nAFFO per common share \u2013 diluted<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.83<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n1.71<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3.71<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n$<\/p><\/td> | \n3.65<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nWeighted average common shares used for FFO, Normalized FFO, and AFFO:<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nBasic<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,443,143<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n27,924,092<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,218,773<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,098,850<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nRestricted stock and RSUs<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n529,228<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n393,601<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n502,400<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n353,261<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n | \n\nDiluted(4)<\/sup><\/p><\/td>\n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,972,371<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,317,693<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,721,173<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n\u00a0<\/p><\/td> | \n28,452,111<\/p><\/td> | \n\u00a0<\/p><\/td><\/tr>\n<\/table> \n\n\n____________________________________________________________________<\/p><\/td><\/tr>\n | \n\n(1)<\/p><\/td> | \n | \nAmounts reflects non-refundable cash payments received pursuant to seller-financed notes issued by us in connection with our disposition of certain properties. As the transactions did not qualify for recognition as completed sales under GAAP, the payments are recorded as a deposit liability and included in other liabilities on our consolidated balance sheet.<\/p><\/td><\/tr>\n | \n\n(2)<\/p><\/td> | \n | \nAmount reflects the non-refundable lease payments received on two sales-type leases which are recognized as a deposit liability starting on January 1, 2024, and is included in other liabilities in our consolidated balance sheets as of June 30, 2026 and December 31, 2025 as the transaction did not qualify for recognition as a completed sale.<\/p><\/td><\/tr>\n | \n\n(3)<\/p><\/td> | \n | Amount reflects other items that are considered to be infrequent and unusual in nature and\/or not related to our core real estate operation. For the three and six months ended June 30, 2026, amount reflects certain financing costs that were not capitalizable and write-off of certain liabilities.<\/td>\n<\/tr>\n | \n\n(4)<\/p><\/td> | \n | \nFor the three and six months ended June 30, 2026, amounts exclude 1,019,877 and 512,756 weighted-average shares potentially issuable upon exchange of the Exchangeable Notes under the if-converted method, respectively. See FFO definition below for more detail.<\/p><\/td><\/tr>\n<\/table> \nNon-GAAP Financial Measures<\/span><\/b><\/p>\nFunds From Operations (FFO)<\/b><\/p> \nFFO and FFO per share are operating performance measures adopted by the National Association of Real Estate Investment Trusts, Inc. (NAREIT). NAREIT defines FFO as the most commonly accepted and reported measure of a REIT\u2019s operating performance equal to net income, computed in accordance with accounting principles generally accepted in the United States (GAAP), excluding gains (or losses) from sales of property, depreciation, amortization and impairment related to real estate properties, and after adjustments for unconsolidated partnerships and joint ventures. IIP also excludes from FFO any disposition-contingent lease termination fee received in connection with a property sale.<\/p> \nManagement believes that net income, as defined by GAAP, is the most appropriate earnings measurement. However, management believes FFO and FFO per share to be supplemental measures of a REIT\u2019s performance because they provide an understanding of the operating performance of IIP's properties without giving effect to certain significant non-cash items, primarily depreciation expense. Historical cost accounting for real estate assets in accordance with GAAP assumes that the value of real estate assets diminishes predictably over time. However, real estate values instead have historically risen or fallen with market conditions. IIP believes that by excluding the effect of depreciation, FFO and FFO per share can facilitate comparisons of operating performance between periods. IIP reports FFO and FFO per share because these measures are observed by management to also be the predominant measures used by the REIT industry and by industry analysts to evaluate REITs and because FFO per share is consistently reported, discussed, and compared by research analysts in their notes and publications about REITs. For these reasons, management has deemed it appropriate to disclose and discuss FFO and FFO per share.<\/p> \nThe Exchangeable Notes were dilutive for purposes of calculating earnings per diluted share for the three and six months ended June 30, 2026, as GAAP requires convertible notes that can be settled in cash and\/or shares at the Company\u2019s discretion to be evaluated under the if-converted method. However, for the purposes of calculating FFO, Normalized FFO and AFFO per diluted share, the Company excludes the dilutive impact of the Exchangeable Notes under the if-converted method as management believes the evaluation of operating performance based on actual diluted shares outstanding is more appropriate to facilitate consistent comparisons between reporting periods and reflects the actual shares that are entitled to common stock dividends each period. Accordingly, for the three months ended June 30, 2026, cash interest expense of $1.0 million relating to the Exchangeable Notes was included and 1,019,877 weighted-average shares potentially issuable upon exchange of the Exchangeable Notes under the if-converted method were excluded from the calculation of FFO, Normalized FFO and AFFO per diluted share.<\/p><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td><\/td> Contacts<\/b> \nCompany Contact:\nDavid Smith\nChief Financial Officer\nInnovative Industrial Properties, Inc.\n(858) 997-3332<\/p> Read full story here <\/a>","protected":false},"excerpt":{"rendered":"Significant Liquidity of $300 Million Available to Support Strategic GrowthSAN DIEGO–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (NYSE: IIPR) (\u00ab\u00a0IIP\u00a0\u00bb or the \u00ab\u00a0Company\u00a0\u00bb) announced today results for the second quarter ended June 30, 2026.
\nExe…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-50407","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/50407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50407"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/50407\/revisions"}],"predecessor-version":[{"id":50408,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/50407\/revisions\/50408"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | | | | | | | | | | | | | |
![](\"https:\/\/mms.businesswire.com\/media\/20260802769895\/en\/2855007\/4\/IIP_logo.jpg\"){kind=logo}
<\/a>