Innovative Industrial Properties Inc. Reports Q2 2025 Revenue Drop of 21% to $62.9M, Net Income at $25.1M, EPS at $0.86
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Innovative Industrial Properties, Inc. (NYSE: IIPR) reported a 21% revenue drop in Q2 2025, totaling $62.9 million, down from $79.8 million in Q2 2024. The decline was mainly due to tenant defaults of $15.8 million and a $1.3 million decrease from vacated or sold properties. Net income was $25.1 million, or $0.86 per share. The company declared a dividend of $1.90 per share, with an annualized rate of $7.60. IIPR's portfolio includes 105 properties with 8.5 million rentable square feet.
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