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Dec 31, 2019
IIPR Q4 2019 Earnings Report
IIP generated significant revenue and net income growth, driven by strategic acquisitions.
Key Takeaways
Innovative Industrial Properties (IIP) reported a substantial increase in revenue and net income for the fourth quarter of 2019. Revenue increased by 269% year-over-year, driven by the acquisition and leasing of new properties. Net income also saw a significant increase, reflecting the company's growth in the regulated cannabis industry.
IIP reported a 269% increase in revenue for Q4 2019 compared to the same period in 2018.
Net income available to common stockholders was approximately $9.6 million, or $0.78 per diluted share for Q4 2019.
Funds from operations (FFO) reached $13.1 million, or $1.09 per diluted share for Q4 2019.
Adjusted FFO (AFFO) was $14.3 million, or $1.18 per diluted share for Q4 2019, a 293% increase from the prior year period.
Forward Guidance
IIP expects to continue investing in specialized industrial real estate assets that support the regulated medical-use cannabis cultivation and processing industry and for general corporate purposes.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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