Innovative Industrial Properties Inc (IIPR) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Innovative Industrial Properties Inc (NASDAQ:IIPR) posted its quarterly earnings data on Wednesday. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05, Bloomberg Earnings reports. The business had revenue of $1.56 million during the quarter. Innovative Industrial Properties had a negative net margin of 32.74% and a negative return on equity of 2.91%.
Shares of Innovative Industrial Properties (NASDAQ:IIPR) traded down $0.01 during trading on Friday, reaching $19.59. 21,176 shares of the company’s stock traded hands, compared to its average volume of 33,731. Innovative Industrial Properties has a 12-month low of $14.50 and a 12-month high of $20.52.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Thursday, September 28th.
IIPR has been the subject of several research analyst reports. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Innovative Industrial Properties in a report on Friday, October 20th. Zacks Investment Research downgraded shares of Innovative Industrial Properties from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 24th.
Innovative Industrial Properties Company Profile
Innovative Industrial Properties, Inc is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases.
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