IIPR - Innovative Industrial Properties Inc. (IIPR) Q1 2024 Earnings Call Transcript

2024-05-09 17:12:06 ET

Innovative Industrial Properties, Inc. (IIPR)

Q1 2024 Earnings Conference Call

May 09, 2024, 13:00 ET

Company Participants

Brian Wolfe - VP, General Counsel, Secretary

Alan Gold - Executive Chairman

Paul Smithers - President, CEO & Director

Ben Regin - Chief Investment Officer

Catherine Hastings - Chief Operating Officer

David Smith - CFO & Treasurer

Conference Call Participants

Tom Catherwood - BTIG

Scott Fortune - Roth MKM

Alexander Goldfarb - Piper Sandler Companies

Presentation

Operator

Good day, and welcome to the Innovative Industrial Properties Q1 2024 Earnings Call. [Operator Instructions].

I would now like to turn the conference over to Brian Wolfe, General Counsel. Please go ahead.

Brian Wolfe

Thank you for joining the call. Presenting today are Alan Gold, Executive Chairman; Paul Smithers. President and Chief Executive Officer; David Smith, Chief Financial Officer; Catherine Hastings, Chief Operating Officer; and Ben Regin, Chief Investment Officer.

Before we begin, I’d like to remind everyone that statements made during today’s conference call may be deemed forward-looking statements within the meaning of the Safe Harbor of the Private Securities Litigation Reform Act of 1995, and actual results may differ materially due to a variety of risks, uncertainties, and other factors.

Please refer to the documents filed by the company with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. We are not obligated to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

In addition, on today’s call, we will discuss certain non-GAAP financial information, such as FFO, normalized FFO, and adjusted FFO. You can find this information together with reconciliations to the most directly comparable GAAP financial measure in our earnings release issued yesterday as well as in our 8-K filed with the SEC....

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