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

Innovative Industrial Properties

05/08/2024 23:17

* Innovative Industrial Properties Inc  IIPR.N  reported
quarterly
adjusted earnings of $1.34​​ per share for the quarter ended in
June, lower than the same quarter last year, when the company
reported EPS of $1.44.  The mean expectation of four analysts
for the quarter was for earnings of $1.30 per share. Wall Street
expected results to range from 83 cents to $1.53 per share.
    * Revenue rose 5.1% to $79.79 million from a year ago;
analysts
expected $77.26 million. 
    * Innovative Industrial Properties Inc's reported EPS for
the
quarter was $1.44​.
    * The company reported quarterly net income of $41.99
million.
    * Innovative Industrial Properties Inc shares had risen
by 7.8%
this quarter and gained 16.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.4%
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 $115.00 
This summary was machine generated from LSEG data August 5 at
10:17 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
 Jun. 30 2024      2.22           2.29           Beat
 Mar. 31 2024      2.16           2.21           Beat
 Dec. 31 2023      2.21           2.28           Beat
 Sep. 30 2023      2.19           2.29           Beat