Innovative Industrial Properties reports Q2 normalized FFO of $1.70, aligning with analyst expectations but down from Q1’s $1.78.
Innovative Industrial Properties (IIPR) reported Q2 normalized funds from operations (FFO) of $1.70 per share, matching the average analyst estimate. The figure reflects a sequential decline from $1.78 in Q1 but aligns with market expectations for the cannabis-focused REIT.
Analysts had anticipated FFO of $1.70 for the quarter, consistent with the company’s reported results. The prior quarter’s $1.78 per share marked a higher print, while year-ago comparisons were not immediately available.
IIPR shares rose 1.3% in after-hours trading following the earnings release, reflecting investor reaction to the in-line performance.