Marijuana Company IIPR's Earnings Call: 4 Things Investors Should Know
Innovative Industrial Properties (NYSE: IIPR), a real estate investment trust (REIT) focused on the cannabis sector, reported strong second-quarter 2019 results last Wednesday, with its semiannual analyst conference call following on Thursday.
The San Diego-based REIT's revenue jumped 155% to $8.28 million, driven largely by acquisitions. Net income rocketed 155% to $3.07 million -- which translated to earnings per share (EPS) popping 76% to $0.30 -- and adjusted funds from operations (AFFO) leaped 90% to $0.59 per share. FFO is a key profitability metric for REITs, as it's the main driver of dividend changes.
Earnings releases tell only part of the story. Management's comments during earnings calls can often reveal key insights about a company's prospects and strategy. Here are four things you should know from Innovative Industrial's Q2 earnings call.
Source Fool.com
