Innovative Industrial Properties Inc reports results for the quarter ended June 30 - Earnings Summary

• Innovative Industrial Properties Inc IIPR.N reported quarterly adjusted earnings of 86 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $1.34. The mean expectation of three analysts for the quarter was for earnings of $1.08 per share. Wall Street expected results to range from 96 cents to $1.25 per share.

• Revenue fell 21.2% to $62.89 million from a year ago; analysts expected $63.87 million.

• Innovative Industrial Properties Inc's reported EPS for the quarter was 86 cents​.

• The company reported quarterly net income of $25.15 million.

• Innovative Industrial Properties Inc shares had fallen by 5.3% this quarter and lost 21.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 4.7% 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 1 "strong buy" or "buy," 3 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the commercial reits peer group is "buy."

• Wall Street's median 12-month price target for Innovative Industrial Properties Inc is $53.00, about 2.6% above its last closing price of $51.62

This summary was machine generated from LSEG data August 6 at 10:45 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)