Innovative Industrial Properties Reports First Quarter 2026 Results
Innovative Industrial Properties reported Q1 2026 revenue of $69.0 million, down 3.8% year-over-year due to tenant defaults, while AFFO came in at $1.88 per share against a $1.90 dividend. The company offset revenue pressure with 389,000 square feet of new leasing year-to-date and active capital raising, generating $128 million in equity and debt proceeds to strengthen the balance sheet.
Key figures
- Eps
- 1.02
- Revenue Yoy
- -3.8%
- Liquidity
- 176600000
- Affo per share
- 1.88
- Leasing sq ft ytd
- 389000
- Debt service coverage ratio
- 11.6
- Declared dividend per share
- 1.9
- Net proceeds common stock ytd
- 34900000
- Net proceeds preferred stock ytd
- 70900000
AI analysis
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