Note: EPS may not be comparable

Innovative Industrial Properties, Inc. (NYSE: IIPR) reported Q4 EPS of $0.07, $0.04 better than the analyst estimate of $0.03. Revenue for the quarter came in at $2.3 million versus the consensus estimate of $2.03 million.

Fourth Quarter 2017 Highlights

Financial Results and Financing Activity

• The Company generated total revenues of approximately $2.3 million in the quarter.
• The Company recorded net income of approximately $284,000 for the quarter, or $0.07 per diluted share, and adjusted fund from operations ("AFFO") of approximately $817,000, or $0.23 per diluted share.
• The Company paid its third consecutive quarterly dividend of $0.25 per share on January 16, 2018 to stockholders of record as of December 29, 2017, representing a 67% increase over the Company\'s third quarter 2017 dividend.
• The Company completed an underwritten public offering of 600,000 shares of 9.0% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock"), raising $14.0 million in net proceeds, and paid the initial quarterly dividend of $0.5375 per share on January 16, 2018 to stockholders of record as of December 29, 2017.
• Subsequent to the end of the quarter, the Company completed an underwritten public offering of 3,220,000 shares of common stock, including the exercise in full of the underwriters' option to purchase an additional 420,000 shares, resulting in net proceeds of approximately $79.3 million.

For earnings history and earnings-related data on Innovative Industrial Properties, Inc. (IIPR) click here.