Innovate Industrial Properties Inc. shares fell more than 2% in the extended session Wednesday, after the company reported earnings.
Innovative Industrial /zigman2/quotes/208038978/composite IIPR +4.94% reported second-quarter net income available to common stock holders of $3.1 million, or 30 cents a share, compared with $1.2 million, or 17 cents a share, in the year-ago period. Revenue rose to $8.6 million from $3.3 million in the year-ago period.
The marijuana real estate investment trust paid a quarterly dividend of 60 cents July 15.
There are not enough analysts polled by FactSet to provide reliable consensus estimates.
Innovative Industrial stock has gained 134% this year, with the S&P 500 index /zigman2/quotes/210599714/realtime SPX +3.06% rising 15%.