Innovative Industrial Properties Reports First Quarter 2020 Results
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Innovative Industrial Properties, Inc. (IIPR) Misses Q1 EPS by 3c
May 6, 2020 6:19 PM EDTInnovative Industrial Properties, Inc. (NYSE: IIPR) reported Q1 EPS of $0.72, $0.03 worse than the analyst estimate of $0.75. Revenue for the quarter came in at $21.3 million versus the consensus estimate of $21.41 million.
First Quarter 2020 and Year-to-Date Highlights
Financial Results and Financing Activity
IIP generated total revenues of approximately $21.1 million in the quarter, representing a 210% increase from the prior years first quarter.IIP recorded net income available to common stockholders of approximately $11.5 million for the quarter, or $0.72 per diluted share, and adjusted funds from operations (AFFO) of approximately $17.8 million, or $1.12 per diluted share. Net... More