Innovative Industrial Properties reported second quarter 2026 results with total revenues of $63.3 million and net income attributable to common stockholders of $40.7 million, or $1.36 per diluted share. Adjusted funds from operations (AFFO) reached $53.0 million, or $1.83 per share. The company declared a quarterly dividend of $1.90 per common share, paid on July 15, 2026 to holders of record as of June 30, 2026. Financing activities included the completion of a $402.5 million private offering of 6.0% exchangeable senior notes due 2029 and the full repayment of $291 million in outstanding Unsecured Senior Notes due 2026. The company also repurchased approximately 1.5 million shares for $89.0 million and closed several secured term loans totaling over $148 million. Innovative Industrial Properties is a real estate investment trust focused on the acquisition, ownership, and management of specialized industrial properties and life science real estate.
