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

Innovative Industrial Properties

26/02/2024 23:56

* Innovative Industrial Properties Inc  IIPR.N  reported
quarterly
adjusted earnings of $1.45​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of $1.46.  The mean expectation of
four analysts for the quarter was for earnings of $1.41 per
share. Wall Street expected results to range from $1.37 
to $1.46 per share.
    * Revenue rose 12.3% to $79.16 million from a year ago;
analysts
expected $76.50 million. 
    * Innovative Industrial Properties Inc's reported EPS for
the
quarter was $1.45​.
    * The company reported quarterly net income of $41.63
million.
    * Innovative Industrial Properties Inc shares had fallen
by 10.0%
this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the commercial
reits
peer group is also "hold"

Wall Street's median 12-month price target for Innovative
Industrial Properties Inc is $85.00 
This summary was machine generated from LSEG data February 26 at
11:55 p.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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      2.21           2.28           Beat
 Sep. 30 2023      2.19           2.29           Beat
 Jun. 30 2023      2.15           2.26           Beat
 Mar. 31 2023      2.00           2.25           Beat