$IIPR
INNOVATIVE INDUSTRIAL PROPERTIES INC

2021 Q4 Form 10-K Financial Statement

#000155837022001947 Filed on February 24, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $58.94M $53.86M $48.87M
YoY Change 58.91% 56.89% 100.72%
Cost Of Revenue $1.826M $1.365M $482.0K
YoY Change 79.02% -53.25% 17.56%
Gross Profit $57.12M $52.49M $48.39M
YoY Change 58.35% 67.12% 102.19%
Gross Profit Margin 96.9% 97.47% 99.01%
Selling, General & Admin $6.450M $5.307M $5.604M
YoY Change 43.65% 58.89% 86.18%
% of Gross Profit 11.29% 10.11% 11.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.21M $10.89M $9.841M
YoY Change 39.87% 42.44% 45.88%
% of Gross Profit 21.37% 20.75% 20.34%
Operating Expenses $18.65M $17.56M $15.93M
YoY Change 31.08% 26.32% 56.61%
Operating Profit $38.46M $36.29M $32.94M
YoY Change 68.24% 77.71% 132.36%
Interest Expense -$6.140M $6.309M $3.692M
YoY Change -429.05% 239.01% 99.03%
% of Operating Profit -15.96% 17.38% 11.21%
Other Income/Expense, Net
YoY Change
Pretax Income $28.63M $30.09M $29.34M
YoY Change 34.22% 56.58% 120.43%
Income Tax
% Of Pretax Income
Net Earnings $28.63M $30.09M $29.34M
YoY Change 34.21% 56.62% 120.43%
Net Earnings / Revenue 48.57% 55.88% 60.04%
Basic Earnings Per Share $1.24 $1.21
Diluted Earnings Per Share $1.090M $1.20 $1.17
COMMON SHARES
Basic Shares Outstanding 23.93M 23.89M 23.89M
Diluted Shares Outstanding 26.26M 26.17M

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.10M $127.3M $156.3M
YoY Change -35.64% -20.98% 211.38%
Cash & Equivalents $81.10M $127.3M $156.3M
Short-Term Investments
Other Short-Term Assets $9.996M $1.457M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $91.09M $127.3M $157.8M
YoY Change -27.7% -20.98% 214.28%
LONG-TERM ASSETS
Property, Plant & Equipment $1.641B $1.402B $1.278B
YoY Change 60.75% 58.19% 61.19%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $324.9M $554.4M $649.4M
YoY Change -47.54% 22.88% 100.85%
Other Assets $5.323M
YoY Change
Total Long-Term Assets $1.994B $1.975B $1.933B
YoY Change 21.4% 47.51% 71.23%
TOTAL ASSETS
Total Short-Term Assets $91.09M $127.3M $157.8M
Total Long-Term Assets $1.994B $1.975B $1.933B
Total Assets $2.085B $2.102B $2.091B
YoY Change 17.9% 40.15% 77.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.353M $8.224M $3.265M
YoY Change 145.1% 647.64% 104.06%
Accrued Expenses $1.532M $1.633M $4.791M
YoY Change -43.26% 25.62% 77.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $146.8M $159.1M $144.5M
YoY Change 37.98% 69.95% 96.86%
LONG-TERM LIABILITIES
Long-Term Debt $326.1M $431.9M $431.2M
YoY Change 138.55% 217.09% 217.75%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $326.1M $431.9M $431.2M
YoY Change 138.55% 217.09% 217.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $146.8M $159.1M $144.5M
Total Long-Term Liabilities $326.1M $431.9M $431.2M
Total Liabilities $472.9M $591.0M $575.7M
YoY Change 94.52% 157.1% 175.21%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.673B $1.562B $1.560B
YoY Change 7.3% 20.59% 57.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.612B $1.511B $1.515B
YoY Change
Total Liabilities & Shareholders Equity $2.085B $2.102B $2.091B
YoY Change 17.9% 40.15% 77.32%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $28.63M $30.09M $29.34M
YoY Change 34.21% 56.62% 120.43%
Depreciation, Depletion And Amortization $12.21M $10.89M $9.841M
YoY Change 39.87% 42.44% 45.88%
Cash From Operating Activities $47.79M $51.57M $46.79M
YoY Change 39.73% 53.93% 99.11%
INVESTING ACTIVITIES
Capital Expenditures -$277.1M -$133.9M -$158.5M
YoY Change 101.08% 43.53% 10.32%
Acquisitions
YoY Change
Other Investing Activities $226.5M $87.59M -$115.5M
YoY Change -234.8% -169.02% 135.29%
Cash From Investing Activities -$50.62M -$46.32M -$274.2M
YoY Change -83.45% -78.97% 42.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.05M -34.26M 261.5M
YoY Change -116.09% -111.97% 162.52%
NET CHANGE
Cash From Operating Activities 47.79M 51.57M 46.79M
Cash From Investing Activities -50.62M -46.32M -274.2M
Cash From Financing Activities -38.05M -34.26M 261.5M
Net Change In Cash -40.88M -29.02M 34.11M
YoY Change 16.46% -129.19% -149.01%
FREE CASH FLOW
Cash From Operating Activities $47.79M $51.57M $46.79M
Capital Expenditures -$277.1M -$133.9M -$158.5M
Free Cash Flow $324.9M $185.5M $205.3M
YoY Change 88.88% 46.28% 22.8%

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CY2021 iipr Increase Decrease In Accounts Payable Accrued Liabilities And Other Liabilities
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3102000
CY2020 iipr Increase Decrease In Accounts Payable Accrued Liabilities And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherLiabilities
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CY2019 iipr Increase Decrease In Accounts Payable Accrued Liabilities And Other Liabilities
IncreaseDecreaseInAccountsPayableAccruedLiabilitiesAndOtherLiabilities
1427000
CY2021 iipr Increase Decrease In Rents Received In Advance And Tenant Security Deposit
IncreaseDecreaseInRentsReceivedInAdvanceAndTenantSecurityDeposit
18652000
CY2020 iipr Increase Decrease In Rents Received In Advance And Tenant Security Deposit
IncreaseDecreaseInRentsReceivedInAdvanceAndTenantSecurityDeposit
13522000
CY2019 iipr Increase Decrease In Rents Received In Advance And Tenant Security Deposit
IncreaseDecreaseInRentsReceivedInAdvanceAndTenantSecurityDeposit
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2021 us-gaap Payments To Acquire Real Estate Held For Investment
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CY2020 us-gaap Payments To Acquire Real Estate Held For Investment
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CY2019 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
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CY2021 us-gaap Payments For Tenant Improvements
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CY2020 us-gaap Payments For Tenant Improvements
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CY2019 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
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CY2021 iipr Funding Of Construction Loan And Other Investments
FundingOfConstructionLoanAndOtherInvestments
16068000
CY2019 iipr Funding Of Construction Loan And Other Investments
FundingOfConstructionLoanAndOtherInvestments
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CY2021 iipr Payment Of Deposits To Escrow For Acquisition
PaymentOfDepositsToEscrowForAcquisition
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CY2020 iipr Payment Of Deposits To Escrow For Acquisition
PaymentOfDepositsToEscrowForAcquisition
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CY2019 iipr Payment Of Deposits To Escrow For Acquisition
PaymentOfDepositsToEscrowForAcquisition
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CY2021 us-gaap Payments To Acquire Short Term Investments
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CY2020 us-gaap Payments To Acquire Short Term Investments
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CY2019 us-gaap Payments To Acquire Short Term Investments
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CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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CY2020 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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CY2019 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Proceeds From Issuance Of Common Stock
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CY2019 us-gaap Proceeds From Issuance Of Common Stock
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CY2019 iipr Proceeds From Issuance Of Exchange Of Senior Notes
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CY2021 us-gaap Proceeds From Issuance Of Unsecured Debt
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300000000
CY2019 us-gaap Proceeds From Issuance Of Unsecured Debt
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CY2021 us-gaap Payments Of Financing Costs
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CY2019 us-gaap Payments Of Financing Costs
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CY2021 iipr Payment Of Inducement And Transaction Costs Relating To Inducement Of Debt
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CY2019 iipr Payment Of Inducement And Transaction Costs Relating To Inducement Of Debt
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CY2021 us-gaap Payments Of Dividends Common Stock
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CY2020 us-gaap Payments Of Dividends Common Stock
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CY2019 us-gaap Payments Of Dividends Common Stock
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CY2021 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2020 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2019 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Interest Paid Net
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CY2020 us-gaap Interest Paid Net
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CY2019 us-gaap Interest Paid Net
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CY2020 iipr Accrual For Reimbursements Of Tenant Improvements And Construction Funding
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CY2019 iipr Accrual For Reimbursements Of Tenant Improvements And Construction Funding
AccrualForReimbursementsOfTenantImprovementsAndConstructionFunding
24968000
CY2021 us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
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CY2020 us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
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CY2019 us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
EscrowDepositDisbursementsRelatedToPropertyAcquisition1
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CY2021 iipr Accrual For Common And Preferred Stock Dividends Declared
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CY2020 iipr Accrual For Common And Preferred Stock Dividends Declared
AccrualForCommonAndPreferredStockDividendsDeclared
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CY2019 iipr Accrual For Common And Preferred Stock Dividends Declared
AccrualForCommonAndPreferredStockDividendsDeclared
12975000
CY2019 iipr Invoices Accrued For Offering Cost
InvoicesAccruedForOfferingCost
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CY2021 iipr Exchange Of Senior Notes
ExchangeOfSeniorNotes
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CY2019 iipr Exchange Of Senior Notes
ExchangeOfSeniorNotes
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CY2021 iipr Operating Lease Liability For Obtaining Right Of Use Asset
OperatingLeaseLiabilityForObtainingRightOfUseAsset
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CY2019 iipr Operating Lease Liability For Obtaining Right Of Use Asset
OperatingLeaseLiabilityForObtainingRightOfUseAsset
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CY2021 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Use of Estimates. </b>The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make a number of estimates and assumptions that affect the reported amounts and disclosures in the consolidated financial statements. Actual results may differ materially from these estimates and assumptions.</p>
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021 us-gaap Depreciation
Depreciation
41700000
CY2020 us-gaap Depreciation
Depreciation
28000000.0
CY2019 us-gaap Depreciation
Depreciation
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CY2021 us-gaap Property Plant And Equipment Impairment
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Provision for Impairment. </b>We review current activities and changes in the business conditions of all of our properties to determine the existence of any triggering events or impairment indicators requiring an impairment analysis. If triggering events or impairment indicators are identified, we review an estimate of the future undiscounted cash flows for the properties, including, if necessary, a probability-weighted approach if multiple outcomes are under consideration.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">Long-lived assets are individually evaluated for impairment when conditions exist that may indicate that the carrying amount of a long-lived asset may not be recoverable. The carrying amount of a long-lived asset to be held and used is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Impairment indicators or triggering events for long-lived assets to be held and used are assessed by project and include significant fluctuations in estimated net operating income, occupancy changes, significant near-term lease expirations, current and historical operating and/or cash flow losses, construction costs, estimated completion </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">dates, rental rates, and other market factors. We assess the expected undiscounted cash flows based upon numerous factors, including, but not limited to, construction costs, available market information, current and historical operating results, known trends, current market/economic conditions that may affect the property, and our assumptions about the use of the asset, including, if necessary, a probability-weighted approach if multiple outcomes are under consideration. Upon determination that an impairment has occurred, a write-down is recognized to reduce the carrying amount to its estimated fair value. We may adjust depreciation of properties that are expected to be disposed of or redeveloped prior to the end of their useful lives. No impairment losses were recognized during the years ended December 31, 2021, 2020 and 2019.</p>
CY2019 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021Q2 iipr Construction Loan Maximum Capacity
ConstructionLoanMaximumCapacity
18500000
CY2021Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
12900000
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
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72000000.0
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
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98300000
CY2019Q1 us-gaap Lease Practical Expedients Package
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CY2018Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
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CY2021Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
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CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
234000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
172000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
87000
CY2020 iipr Number Of Affected Tenants Granted Deferrals
NumberOfAffectedTenantsGrantedDeferrals
3
CY2020 iipr Number Of Affected Tenants Granted Deferrals
NumberOfAffectedTenantsGrantedDeferrals
3
CY2020 iipr Number Of Affected Tenants Security Deposits Applied To Portion Of Base Rent
NumberOfAffectedTenantsSecurityDepositsAppliedToPortionOfBaseRent
1
CY2020Q3 iipr Period Of Repayment Of Security Deposit And Deferred Rent
PeriodOfRepaymentOfSecurityDepositAndDeferredRent
P18M
CY2020Q2 iipr Security Deposit Applied For Payment Of Rent
SecurityDepositAppliedForPaymentOfRent
940000
CY2020Q1 iipr Repayments Of Base Rent And Property Management Fee
RepaymentsOfBaseRentAndPropertyManagementFee
185000
CY2020 iipr Number Of Affected Tenants Security Deposits Applied To Portion Of Base Rent
NumberOfAffectedTenantsSecurityDepositsAppliedToPortionOfBaseRent
1
CY2020Q2 iipr Base Rent Deferrals
BaseRentDeferrals
1500000
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Concentration of Credit Risk</b>. As of December 31, 2021, we owned 103 properties located in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington. The ability of any of our tenants to honor the terms of its lease is dependent upon the economic, regulatory, competition, natural and social factors affecting the community in which that tenant operates. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Two of our tenants, PharmaCann Inc. (“PharmaCann”) (at five of our properties) and SH Parent Inc. (“Parallel”) (at four of our properties), represented approximately 12% and 10%, respectively, of our rental revenue (including tenant reimbursements) for the year ended December 31, 2021. Three of our tenants, PharmaCann (at five of our properties), Ascend Wellness Holdings, Inc. (“Ascend”) (at three of our properties), and Cresco Labs Inc. (“Cresco”) (at five of our properties), represented approximately 18%, 10%, and 10%, respectively, of our rental revenues (including tenant reimbursements) for the year ended December 31, 2020. Two of our tenants, PharmaCann (at five of our properties) and Ascend (at two of our properties), represented approximately 26% and 12%, respectively, of our rental revenues (including tenant reimbursements) for the year ended December 31, 2019. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">At December 31, 2021 and 2020, none of our properties individually represented more than 5%<span style="white-space:pre-wrap;"> of our net real estate held for investment. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">We have deposited cash with a financial institution that is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. As of December 31, 2021, we had cash accounts in excess of FDIC insured limits. We have not experienced any losses in such accounts.</p>
CY2021Q4 iipr Number Of Properties
NumberOfProperties
103
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2019Q2 us-gaap Payments Of Dividends Common Stock
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CY2019Q1 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
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CY2019Q2 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
338000
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2019Q3 us-gaap Payments Of Dividends Common Stock
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CY2019Q2 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
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CY2019Q3 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
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0.78
CY2019Q4 us-gaap Payments Of Dividends Common Stock
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CY2019Q3 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
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CY2019Q4 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2019Q4 us-gaap Common Stock Dividends Per Share Declared
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CY2020Q1 us-gaap Payments Of Dividends Common Stock
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PreferredStockDividendsPerShareDeclared
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CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
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1.00
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PreferredStockDividendsPerShareDeclared
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PaymentsOfDividendsPreferredStockAndPreferenceStock
338000
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2020Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2020Q2 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
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CY2020Q3 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
338000
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.17
CY2020Q4 us-gaap Payments Of Dividends Common Stock
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CY2020Q3 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.5625
CY2020Q4 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
338000
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.24
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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CY2020Q4 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
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CY2021Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
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CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2021Q2 us-gaap Payments Of Dividends Common Stock
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CY2021Q1 us-gaap Preferred Stock Dividends Per Share Declared
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CY2021Q2 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
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CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2021Q3 us-gaap Payments Of Dividends Common Stock
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CY2021Q2 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
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CY2021Q3 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
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CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.50
CY2021Q4 us-gaap Payments Of Dividends Common Stock
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CY2021Q3 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
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CY2021Q4 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
338000
CY2021Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2022Q1 us-gaap Payments Of Dividends Common Stock
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CY2021Q4 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
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CY2022Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
338000
CY2021Q4 us-gaap Net Rentable Area
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2272000
CY2021Q4 iipr Real Estate Investment Purchase Price
RealEstateInvestmentPurchasePrice
287653000
CY2021 iipr Real Estate Investments Transaction Costs
RealEstateInvestmentsTransactionCosts
299000
CY2021Q4 us-gaap Real Estate Investments
RealEstateInvestments
287952000
CY2021Q4 iipr Rentable Area Excluded
RentableAreaExcluded
110000
CY2021 us-gaap Amortization Of Intangible Assets
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33000
CY2021 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P11Y8M12D
CY2021Q4 iipr Real Estate Property Cost
RealEstatePropertyCost
384100000
CY2021Q4 iipr Reimbursement Payable For Acquisition Of Real Estate And Tenant Improvement
ReimbursementPayableForAcquisitionOfRealEstateAndTenantImprovement
374500000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
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258705000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
272576000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
280595000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
288955000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
297597000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
4237164000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
5635592000
CY2021Q4 us-gaap Induced Conversion Of Convertible Debt Expense
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3700000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
33373000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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300000000
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
333373000
CY2021 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
2180550
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2158837
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2100307
CY2021 us-gaap Net Income Loss
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113990000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
65730000
CY2019 us-gaap Net Income Loss
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23475000
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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CY2020 us-gaap Preferred Stock Dividends Income Statement Impact
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