Innovative Industrial Properties' Q4 Earnings: We Maintain Strong Buy

Summary

  • Innovative Industrial Properties reported stellar Q4 financial results, beating revenue estimates by $2.68 million and funds from operations per share estimates by five cents.
  • According to our calculations, the REIT's normalized revenue decreased by $400,000, but it still recorded an organic FFO per share increase of 12 cents year-over-year.
  • Innovative Industrial Properties announced a 100% year-to-date rent collection rate, but caution is urged due to the riskiness of its tenant base.
  • IIPR stock is relatively undervalued and presents a solid dividend. Sure, risks are evident, but we maintain our strong buy rating.

Botanist Tagging Cannabis Plants at Industrial Growing Operation

halbergman

Innovative Industrial Properties, Inc. (NYSE:IIPR) released its fourth-quarter financial results on Monday, revealing stellar performance. The Cannabis REIT delivered $79.16 million in quarterly revenue, beating estimates by $2.68 million. Moreover, Innovative Industrial Properties' funds from operations per share settled at $2.07, leading

This article was written by

Pearl Gray is a proprietary investment fund and independent market research firm specialising in systematic analysis.Our latest work on SA primarily covers: Bonds, Preferreds, REITs, with an occasional drift.Primary Sectors: Financials and Real Estate.Mission: To discover actionable total return ideas at the nexus of rigorous academic theories, practical experience, and common sense.Kindly note that our published content is dispensed as Independent Analysis and Doesn't Constitute Financial Advice. For any content-related concerns, contact our Head of Research: Steve Booyens, CFA or leave a message in the comments section.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

About IIPR Stock

SymbolLast Price% Chg
EPS
PE
Div Rate
Yield
Short Interest
Market Cap
Volume
Compare to Peers

More on IIPR

Related Stocks

SymbolLast Price% Chg
IIPR
--