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

Innovative Industrial Properties

02/11/2023 08:04

* Innovative Industrial Properties Inc  IIPR.N  reported
quarterly
adjusted earnings of $1.45​​ per share for the quarter ended in
September, higher than the same quarter last year, when the
company reported EPS of $1.32.  The mean expectation of
four analysts for the quarter was for earnings of $1.42 per
share. Wall Street expected results to range from $1.39 
to $1.43 per share.
    * Revenue rose 9.8% to $77.83 million from a year ago;
analysts
expected $76.56 million. 
    * Innovative Industrial Properties Inc's reported EPS for
the
quarter was $1.45​.
    * The company reported quarterly net income of $41.26
million.
    * Innovative Industrial Properties Inc shares had fallen
by 4.1%
this quarter and lost 28.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.7%
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 $95.00 
This summary was machine generated from LSEG data November 2 at
08:04 a.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      2.19           2.29           Beat
 Jun. 30 2023      2.15           2.26           Beat
 Mar. 31 2023      2.00           2.25           Beat
 Dec. 31 2022      2.04           2.12           Beat