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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%

Innovative Industrial Properties Inc. (NYS:IIPR) 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 (PSE:MJ) has fallen 23%.

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