Marijuana REIT Innovative Industrial Properties Q2 FY23 Revenue Grows 8% YoY To $76.5M
Portfolio Pulse from Vuk Zdinjak
Innovative Industrial Properties, Inc. (IIPR) reported Q2 2023 revenue of $76.5 million, an 8% YoY increase. Net income attributable to common stockholders was $40.9 million, or $1.44 per diluted share, compared to $39.9 million or $1.42 per diluted share in Q2 2022. The company paid a quarterly dividend of $1.80 per common share, an increase of 11% YoY. Rent collection was 97% for the quarter. A new lease was executed at IIPR’s Perez Road property in Cathedral City, California.
August 04, 2023 | 1:06 pm
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Innovative Industrial Properties reported strong Q2 2023 results with an 8% YoY increase in revenue and a rise in net income per share. The company also increased its quarterly dividend by 11% YoY.
The company's strong financial performance, including an increase in revenue and net income per share, as well as an increase in its dividend, is likely to have a positive impact on its stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100