Innovative Industrial Properties Beats Q3 Earnings Estimates Driven by Re-leasing Activity
Innovative Industrial Properties (IIPR) reported third-quarter financial results that exceeded analyst expectations, characterized by a normalized Funds From Operations (FFO) of $1.80 per share. This figure surpassed the consensus estimate of $1.61 and represents an increase from the $1.70 reported in the previous year. The company's performance was bolstered by improved re-leasing activity within its medical cannabis real estate portfolio. Following the announcement, IIPR shares saw a positive market reaction, rising 2.2% in after-hours trading.
Tickers: $IIPR
Topics: after-hours trading earnings beat FFO medical cannabis REIT
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Part of the story Innovative Industrial Properties Beats Q3 Earnings Estimates Driven by Re-leasing Activity (4 articles)