Innovative Ind Props Q1 2024 FFO $2.21 Beats $2.16 Estimate, Sales $75.454M Miss $78.578M Estimate
Portfolio Pulse from Benzinga Newsdesk
Innovative Industrial Properties (IIPR) reported Q1 2024 FFO of $2.21 per share, surpassing the $2.16 estimate, but sales of $75.454M fell short of the $78.578M forecast. This represents a slight decrease in both earnings and sales from the previous year.
May 08, 2024 | 9:29 pm
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NEUTRAL IMPACT
IIPR exceeded FFO estimates but missed on sales for Q1 2024, indicating mixed financial performance.
While beating FFO estimates is positive, missing sales forecasts could concern investors about revenue growth. The mixed results may lead to neutral short-term stock price movement as investors digest both the positive and negative aspects of the report.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100