IIPR reports Q2 2026: $63.3M revenue, $1.83 AFFO/share; issues $402.5M exchangeable notes

Filed August 3, 2026 · Period ending August 3, 2026 · ~1 min read

Key Changes

• high

  Q2 2026 revenue $63.3M, net income $40.7M ($1.36/share), AFFO $53.0M ($1.83/share); revenue up 0.7% YoY driven by new leases and rent escalations, offset by property sales and tenant defaults.

  Exhibit 99.1 view on EDGAR →
• high

  Issued $402.5M of 6.0% exchangeable senior notes due 2029; used $80.5M of proceeds to repurchase 1.47M shares at $60.58/share, remainder for working capital and debt repayment; fully repaid $291M notes due 2026.

  Exhibit 99.1 view on EDGAR →
• high

  Completed $270M IQHQ investment ($100M revolver at 13.5% yield, $170M preferred at 15.0% yield); funded $120M preferred equity in Q2, generating $8.5M interest/dividend income in the quarter.

  Exhibit 99.1 view on EDGAR →