Innovative Industrial Properties beats fourth-quarter revenue estimates

Thu, Feb 20

Key Points

Innovative Industrial Properties reported a net income of $39.5 million, or $1.36 per diluted share, for the fourth quarter of 2024, exceeding Wall Street expectations.
The company's portfolio occupancy improved, indicating positive growth despite ongoing challenges with some tenants.
Innovative Industrial Properties is a cannabis real estate investment trust that continues to navigate the complex landscape of the cannabis industry.
Investors were encouraged by the company's performance in the fourth quarter, demonstrating resilience and adaptability in a challenging environment.

Innovative Industrial Properties (NYSE: IIPR) eked past Wall Street expectations in the fourth quarter as its portfolio occupancy improved, though the company continued navigating tenant challenges.

The cannabis real estate investment trust reported net income of $39.5 million, or $1.36 per diluted share, for the quarter that ended Dec. 31, 2024,...

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