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Innovative Industrial Properties, Inc. (IIPR)
NYSE: IIPR · Real-Time Price · USD
52.66
-2.08 (-3.80%)
At close: Nov 12, 2026, 4:00 PM EST
52.95
+0.29 (0.55%)
Pre-market: Nov 13, 2026, 4:02 AM EST

IIPR Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
140.4118.25161.66165.59154.39113.99
Depreciation & Amortization
75.4974.0770.8167.1961.341.78
Other Amortization
3.9721.671.371.352.85
Gain (Loss) on Sale of Assets
-11.940.333.45--3.6-
Gain (Loss) on Sale of Investments
---0.51-3.2-2.25-0.34
Asset Writedown
0.573.53----
Stock-Based Compensation
11.4210.1317.3219.5817.518.62
Change in Accounts Payable
1.85-0.8563.922.723.1
Change in Other Net Operating Assets
-2.05-1.290.130.35-3.51-3.69
Other Operating Activities
-9.72-1.10.10.090.313.78
Operating Cash Flow
200.31198.19258.45255.54234.13188.75
Operating Cash Flow Growth
-2.80%-23.32%1.14%9.15%24.04%70.33%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Acquisition of Real Estate Assets
-8.5-31.29-81.75-184.99-523.97-662.13
Sale of Real Estate Assets
45.682.249.1-23.5-
Net Sale / Acq. of Real Estate Assets
37.19-29.05-72.65-184.99-500.47-662.13
Investment in Marketable & Equity Securities
-298.28-145.2517.45182.19126.2294.73
Other Investing Activities
-----0.25-0.63
Investing Cash Flow
-261.09-174.3-56-6.79-396.2-384.09

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Long-Term Debt Issued
-155---300
Long-Term Debt Repaid
--61.2-4.44---
Net Debt Issued (Repaid)
370.3593.8-4.44--300
Issuance of Common Stock
44.03-11.769.56351.96-
Repurchase of Common Stock
-90.32-20.97-0.75-0.57-2.44-3.38
Preferred Stock Issued
86.2524.159.62---
Common Dividends Paid
-215.13-216.28-211.95-202.71-183.94-130.95
Preferred Dividends Paid
-7.99-3.24-1.58-1.35-1.35-1.35
Total Dividends Paid
-223.12-219.52-213.53-204.06-185.3-132.31
Other Financing Activities
-17.82--0.57-0.56--8.55

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Cash Flow
108.59-98.654.5553.132.15-39.59

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Levered Free Cash Flow
96.67155.22192.61185.8167.92120.17
Unlevered Free Cash Flow
113.53165.84201.98195.34178.01128.62

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
26.9317.4116.0516.1317.2514.38
Change in Working Capital
-9.87-9.013.954.925.1218.07
SEC Filings: 10-K · 10-Q