Innovative Industrial Properties, Inc. · NYSE:IIPR
Innovative Industrial Properties — Investor Presentation (May 2021)
13 slides from Innovative Industrial Properties's investor presentation, May 10, 2021
Slide 1: Investor Presentation
INNOVATIVE INDUSTRIAL PROPERTIES Investor Presentation NYSE: IIPR www.innovativeindustrialproperties.com Posted May 10, 2021 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and our associated comments include "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
Slide 3: Executive Summary
Executive Summary Innovative Industrial Properties is the Leading Provider of Real Estate Capital for the Medical–Use Cannabis Industry • Founded in 2016, we are the first publicly traded company on the 69 Properties 6.2M Rentable New York Stock Exchange (NYSE: IIPR) to provide real estate capital S
Slide 4: Experienced Management Team
Experienced Management Team Alan Gold Pa u l S m i t h e r s Ca t h e r i n e H a s t i n g s B r i a n Wo l f e Executive Chairman Pr e s i d e n t a n d C E O C F O a n d Tr e a s u r e r V P, G C a n d S e c r e t a r y Co-founder of BioMed Realty 35+ years of legal and regulatory 20 years of acc
Slide 5: Our Independent Board Members
Our Independent Board Members G a r y K re i t z e r David Stecher S c o tt S h o e m a ke r, M D M a r y A l l i s C u r ra n Vice Chairman Director Director Director Co-founder of BioMed Realty Managing Director at CapAcuity Practicing orthopedic surgeon Former senior executive at (formerly NYSE:
Slide 6: Portfolio Overview
Portfolio Overview $1.5B Committed/Invested Capital(1) 69 Properties 18 States 6.2M Sq. Ft.(2) 100% Leased(3) 16.7 Yrs. WALL(4) State Diversification (5) Pennsylvania 14.9% Illinois 13.6% California 13.4% Michigan 12.8% Massachusetts 12.3% Florida 10.1% New York 4.7% Ohio 4.6% New Jersey 3.3% Other
Slide 7: Select Properties
Select Properties Location: Capitol Heights, MD Location: North Palm Springs, CA Location: Willcox, AZ Size: 72,000 Sq. Ft. Size: 70,000 Sq. Ft. Size: 358,000 Sq. Ft. Use: Cultivation and Processing Use: Cultivation, Manufacturing and Distribution Use: Cultivation and Processing Location: Barry, IL
Slide 8: Financial Statistics
Financial Statistics Innovative Industrial Properties Financial Statistics Capital raised (net proceeds), including equity and exchangeable notes $1.7 billion Capital committed/invested(1) $1.5 billion Annualized Q1 2021 rental revenue(2) $171.5 million Debt to total gross assets(3) 7.8% Annualized
Slide 9: Financial Performance
Financial Performance Year Over Year Net Income (Loss), FFO and AFFO $180,000 Net Income (Loss) (1) FFO (2) $160,000 AFFO (2) $153,608 $145,204 $140,000 $120,000 $102,356 $100,000 $97,773 $92,403 $80,000 $64,378 $60,000 $40,000 $34,895 $30,722 $22,123 $20,000 $8,262 $9,727 $5,633 $520 $2,352 ($395)
Slide 10: Market Returns
Market Returns Total Stockholder Returns 1100% 900% 700% 500% 300% 100% -100% 10 Note: Data from December 1, 2016 (the date that our common stock first began trading on the NYSE) through April 28, 2021 showing cumulative total shareholder return, calculated on a dividend reinvested basis, for Innova
Slide 11: Common Dividend History
Common Dividend History Dividends Declared Per Common Share $1.40 $1.32 $1.24 $1.20 $1.17 $1.06 $1.00 $1.00 $1.00 $0.80 $0.78 $0.60 $0.60 $0.45 $0.40 $0.35 $0.35 $0.25 $0.25 $0.25 $0.20 $0.15 $0.15 $0.00 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020
Slide 12: Medical Cannabis Industry
Medical Cannabis Industry R A P I D LY GR O W I NG I N D UST RY • U.S. regulated cannabis sales grew to an estimated $20.1 billion in 2020, an increase of 52% over 2019’s total of $13.2 billion, and is expected to grow to over $45.9 billion by 2025.(1) • In 2020 the U.S. cannabis industry employed 3
Slide 13: Proven Strategy, Experienced Management Team
P R O V E N ST R AT E GY EXPERIENCED M A N AG E M E N T TEAM ST R O N G BALANCE SHEET GROWING I N D U ST R Y C O N S I ST E N T EXECUTION 13
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