Stock Track | Innovative Industrial Properties Stock Plunges in Pre-Market After Disappointing Q3 Results

Stock Track11-07

Shares of Innovative Industrial Properties Inc (IIPR) plunged over 6% in pre-market trading on Wednesday, following the company's release of its third-quarter earnings report for the period ended September 30, 2024. The real estate investment trust (REIT) specializing in the regulated cannabis industry missed analysts' expectations on both earnings and revenue.

According to the earnings report, IIPR reported adjusted earnings per share (EPS) of $1.37 for the third quarter, lower than the consensus estimate of $1.45 per share. The company's revenue for the quarter came in at $76.53 million, a 1.7% decrease from the same period last year and below analysts' expectations of $77.38 million.

The disappointing financial results could be attributed to various factors, including challenges in the cannabis industry or slower-than-anticipated growth in IIPR's portfolio of properties. Investors seem to have reacted negatively to the earnings miss, driving the stock down in pre-market trading.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1100094903?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-07 22:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1100094903","market":"us","top_or_hot":-1,"title":"Stock Track | Innovative Industrial Properties Stock Plunges in Pre-Market After Disappointing Q3 Results","media":"Stock Track","content":"<p>Shares of Innovative Industrial Properties Inc (IIPR) plunged over 6% in pre-market trading on Wednesday, following the company's release of its third-quarter earnings report for the period ended September 30, 2024. The real estate investment trust (REIT) specializing in the regulated cannabis industry missed analysts' expectations on both earnings and revenue.</p>\n\n<p>According to the earnings report, IIPR reported adjusted earnings per share (EPS) of $1.37 for the third quarter, lower than the consensus estimate of $1.45 per share. The company's revenue for the quarter came in at $76.53 million, a 1.7% decrease from the same period last year and below analysts' expectations of $77.38 million.</p>\n\n<p>The disappointing financial results could be attributed to various factors, including challenges in the cannabis industry or slower-than-anticipated growth in IIPR's portfolio of properties. Investors seem to have reacted negatively to the earnings miss, driving the stock down in pre-market trading.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Innovative Industrial Properties Stock Plunges in Pre-Market After Disappointing Q3 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Innovative Industrial Properties Stock Plunges in Pre-Market After Disappointing Q3 Results\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-07 22:12 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Innovative Industrial Properties Inc (IIPR) plunged over 6% in pre-market trading on Wednesday, following the company's release of its third-quarter earnings report for the period ended ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IIPR","symbol_name":"Innovative Industrial Properties Inc","start_time":0,"source_url":"","article_id":"1100094903","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1100094903","pubTimestamp":1730988749,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Innovative Industrial Properties Inc  plunged over 6% in pre-market trading on Wednesday, following the company's release of its third-quarter earnings report for the period ended September 30, 2024. The real estate investment trust  specializing in the regulated cannabis industry missed analysts' expectations on both earnings and revenue.According to the earnings report, IIPR reported adjusted earnings per share  of $1.37 for the third quarter, lower than the consensus estimate of $1.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IIPR":"Innovative Industrial Properties Inc"},"translate_title":"第三季度业绩令人失望后，创新工业地产股盘前暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IIPR":1},"content_text":"Shares of Innovative Industrial Properties Inc (IIPR) plunged over 6% in pre-market trading on Wednesday, following the company's release of its third-quarter earnings report for the period ended September 30, 2024. The real estate investment trust (REIT) specializing in the regulated cannabis industry missed analysts' expectations on both earnings and revenue.\nAccording to the earnings report, IIPR reported adjusted earnings per share (EPS) of $1.37 for the third quarter, lower than the consensus estimate of $1.45 per share. The company's revenue for the quarter came in at $76.53 million, a 1.7% decrease from the same period last year and below analysts' expectations of $77.38 million.\nThe disappointing financial results could be attributed to various factors, including challenges in the cannabis industry or slower-than-anticipated growth in IIPR's portfolio of properties. Investors seem to have reacted negatively to the earnings miss, driving the stock down in pre-market trading.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1100094903"}