Innovative Industrial Properties (IIPR)
NYSE:IIPR
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Earnings Data
Report Date
Aug 05, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.05Last Year’s EPS
0.86Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call depicts a company in stabilization and active execution mode: revenue and AFFO were stable with modest revenue growth (+3.5%), substantial leasing activity and portfolio re‑tenants underway, meaningful capital raising ($128M) and strong liquidity/credit metrics. Offsetting these positives are near-term refinancing needs, higher financing costs (term loan at 9% and prospective financings ~8%+), legacy tenant defaults requiring retenanting and conditional LOIs subject to licensing and diligence. Regulatory progress (medical rescheduling) is material and positive for operator economics, but important banking/interstate-commerce issues remain unresolved. Overall the company is making clear operational progress while managing elevated financing and transitional asset risks.Company Guidance
Revenue Growth
Total revenues of $69.0 million in Q1 2026, a 3.5% increase compared to Q4 2025, driven primarily by payments from PharmaCann and settlement receipts.
AFFO Stability
Adjusted Funds From Operations (AFFO) of $53.4 million, or $1.88 per share, which was unchanged from the prior quarter (0% change), demonstrating earnings stability.
Strong Leasing and Portfolio Stabilization
Year-to-date executed new leases totaling ~389,000 sq ft across 5 properties (California, Illinois, Ohio). During the quarter specifically, leases at 4 properties totaling ~331,000 sq ft were signed; all 3 former Gold Flora properties (330,000 sq ft) are now leased and tentative agreements reached for all 4 former 4Front properties (≈488,000 sq ft) subject to diligence/licensing.
Capital Raised and Liquidity
Raised $128 million of gross capital year-to-date (comprising $72M preferred equity, $36M common equity, $20M secured debt). Total liquidity as of March 31 was approximately $177 million (≈$89M cash, $87.5M revolver availability).
Balance Sheet and Credit Metrics
Maintained strong credit metrics: debt service coverage ratio exceeding 11x and net debt to adjusted EBITDA of 1.1x, indicating a solid balance sheet despite near-term maturities.
IQHQ Life Science Investment Progress
Funded $175 million of a $270 million commitment to IQHQ to date (remaining $95M expected over time); management cites these investments as accretive (noted average returns north of 14% vs company cost of capital around 6%).
IIPR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
IIPR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 04, 2026 | $52.90 | $60.32 | +14.03% |
Feb 23, 2026 | $44.43 | $49.19 | +10.70% |
Nov 03, 2025 | $45.82 | $46.07 | +0.55% |
Aug 06, 2025 | $46.14 | $41.21 | -10.69% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Innovative Industrial Properties (IIPR) report earnings?
Innovative Industrial Properties (IIPR) is schdueled to report earning on Aug 05, 2026, After Close (Confirmed).
What is Innovative Industrial Properties (IIPR) earnings time?
Innovative Industrial Properties (IIPR) earnings time is at Aug 05, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IIPR EPS forecast?
IIPR EPS forecast for the fiscal quarter 2026 (Q2) is 1.05.