Innovative Industrial Properties: Q2 Earnings Snapshot
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.