Innovative Industrial Properties: Q3 Earnings Snapshot

PARK CITY, Utah (AP) — PARK CITY, Utah (AP) — Innovative Industrial Properties, Inc. (IIPR) on Wednesday reported a key measure of profitability in its third quarter.

The real estate investment trust, based in Park City, Utah, said it had funds from operations of $64.8 million, or $2.29 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $41.3 million, or $1.45 per share.

Innovative Industrial Properties, based in Park City, Utah, posted revenue of $77.8 million in the period.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IIPR at https://www.zacks.com/ap/IIPR