Innovative Industrial Properties: Q1 Earnings Snapshot
Innovative Industrial Properties, Inc. (IIPR) on Monday reported a key measure of profitability in its first quarter
By AP News
Published - May 08, 2023, 06:09 PM ET
Last Updated - Apr 05, 2024, 02:33 PM EDT
PARK CITY, Utah (AP) — PARK CITY, Utah (AP) — Innovative Industrial Properties, Inc. (IIPR) on Monday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Park City, Utah, said it had funds from operations of $63.4 million, or $2.25 per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $40.8 million, or $1.43 per share.
