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Innovative Industrial Properties, Inc. (NYSE:IIPR), a real estate investment trust (REIT) focused on cannabis released its Q3 2024 results Wednesday afternoon, reporting solid profitability despite tenant-related rent delays. Key Financial Highlights Revenue: $76.5 million, down 1.7% from Q3 2023 due to tenant-related adjustments.Net Income: $39.7 million, or $1.37 per share, a 6% decrease year-over-year.Adjusted Funds from Operations (AFFO): $64.3 million, or $2.25 per share, down 2% from Q3 2023.Dividend: Distributed $1.90 per share on October 15, with an AFFO payout ratio of 84%.Managing Re…

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