Innovative Industrial Properties Inc reports results for the quarter ended December 31 - Earnings Summary

• Innovative Industrial Properties Inc IIPR.N reported quarterly adjusted earnings of $1.06​​ per share for the quarter ended December 31, lower than the same quarter last year, when the company reported EPS of $1.36. The mean expectation of two analysts for the quarter was for earnings of $1.01 per share. Wall Street expected results to range from 96 cents to $1.06 per share.

• Revenue fell 13.1% to $66.66 million from a year ago; analysts expected $65.95 million.

• Innovative Industrial Properties Inc's reported EPS for the quarter was $1.06​.

• The company reported quarterly net income of $30.71 million.

• Innovative Industrial Properties Inc shares had fallen by 3.5% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 4.6% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 3 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the commercial reits peer group is "buy."

• Wall Street's median 12-month price target for Innovative Industrial Properties Inc is $47.50, about 2.8% above its last closing price of $46.16

This summary was machine generated from LSEG data February 24 at 12:17 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)