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

Innovative Industrial Properties

09/05/2024 18:52

* Innovative Industrial Properties Inc  IIPR.N  reported
quarterly
adjusted earnings of $1.36​​ per share for the quarter ended in
January, lower than the same quarter last year, when the company
reported EPS of $1.43.  The mean expectation of four analysts
for the quarter was for earnings of $1.43 per share. Wall Street
expected results to range from $1.41  to $1.46 per share.
    * Revenue fell 0.8% to $75.45 million from a year ago;
analysts
expected $78.58 million. 
    * Innovative Industrial Properties Inc's reported EPS for
the
quarter was $1.36​.
    * The company reported quarterly net income of $39.09
million.
    * Innovative Industrial Properties Inc shares had risen
by 4.0%
this quarter and gained 6.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.9%
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 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 $110.00 
This summary was machine generated from LSEG data May 9 at 05:52
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
 Mar. 31 2024      2.16           2.21           Beat
 Dec. 31 2023      2.21           2.28           Beat
 Sep. 30 2023      2.19           2.29           Beat
 Jun. 30 2023      2.15           2.26           Beat