INNOVATIVE INDUSTRIAL PROPERTIES INC Profit Falls In Q3, But Beats Estimates

(RTTNews) - INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) revealed earnings for third quarter that Dropped, from last year but beat the Street estimates.

The company's bottom line came in at $28.29 million, or $0.97 per share. This compares with $39.65 million, or $1.37 per share, last year.

Analysts on average had expected the company to earn $0.90 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 15.5% to $64.69 million from $76.53 million last year.

INNOVATIVE INDUSTRIAL PROPERTIES INC earnings at a glance (GAAP) :

-Earnings: $28.29 Mln. vs. $39.65 Mln. last year. -EPS: $0.97 vs. $1.37 last year. -Revenue: $64.69 Mln vs. $76.53 Mln last year.