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Nov. 6, 2019, 6:23 p.m. EST

Cannabis real estate company's revenues rise more than 200%, stock gains 5%

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By Max A. Cherney

Innovative Industrial Properties Inc. /zigman2/quotes/208038978/composite IIPR -0.70% shares rose nearly 5% in the extended session Wednesday after the cannabis real estate investment company reported profits of $6.2 million. Earnings were 55 cents a share, up from 21 cents a share in the year-ago period. Revenue rose more than 200% to $11.6 million. Innovative Industrial Properties does not have enough analyst coverage to report reliable consensus estimates. The real estate company's stock has gained 60% this year as the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ -2.52% has fallen 23%.

/zigman2/quotes/208038978/composite
US : U.S.: NYSE
$ 109.87
-0.78 -0.70%
Volume: 268,355
June 30, 2022 4:00p
P/E Ratio
22.70
Dividend Yield
6.37%
Market Cap
$3.09 billion
Rev. per Employee
$12.57M
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/zigman2/quotes/204332491/composite
US : U.S.: NYSE Arca
$ 5.80
-0.15 -2.52%
Volume: 1.19M
June 30, 2022 4:00p
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