IIPR Stock Soars 45% in 2020: All Eyes on Q4 Earnings

IIPR stock

Despite the overall difficulties in the cannabis sector for the past year or so, IIPR stock has managed to emerge as one of the few stocks to have actually recorded handsome gains. While Innovative Industrial Properties Inc (NYSE:IIPR) has had its declines, it has still managed to generate gains to the tune of 66% for the one-year period. There is bound to be a lot of excitement about the company’s fourth-quarter and 2019 full-year financial results, which are going to be announced on February 26.

IIPR stock rallied by 10% after its third-quarter earnings report, so investors are probably hoping the same will happen this time around.

Important Metrics in Focus

Here is a look at some of the things that investors could expect from the company’s earnings. Wall Street expects Innovative Industrial Properties’ fourth-quarter revenue to hit $14.37 million, which is a year-on-year rise of 201%, and earnings per share to be $0.57 per share, which would reflect a jump of 138%.

IIPR stock is now up by 1.45% at $107.30.

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Analysts do not expect the real estate investment trust to grow rapidly in the quarter, due to Innovative's extensive acquisition activity during the period.

For context, Innovative Industrial Properties owned 11 properties in the United States at the conclusion of the year-ago quarter, but at the end of Q4 2019, it owned as many as 44 properties. In the previous quarter, the company managed to generate $11.2 million in rental revenue, which reflected a rise of as much as 201% year-on-year.

The company’s earnings per share soared to $0.55 per share and made up a jump of as much as 162% year-on-year. Such a jump is not expected in the fourth quarter due to acquisition activities, but investors will be watching the proceedings closely. A conference call is going to be hosted by the company on February 27.

IIPR stock has soared over 45% since the beginning of the new year.

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Featured image: DepositPhotos © nazarenko

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