Innovative Industrial Properties: Q2 Earnings Snapshot

August 3, 2022 GMT

PARK CITY, Utah (AP) _ Innovative Industrial Properties, Inc. (IIPR) on Wednesday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Park City, Utah, said it had funds from operations of $60.1 million, or $2.14 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 $39.9 million, or $1.42 per share.

Innovative Industrial Properties posted revenue of $70.5 million in the period.


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