Innovative Industrial Properties Earnings and Revenue Miss Expectations
Innovative Industrial Properties (NYSE: IIPR), a cannabis industry-focused real estate investment trust (REIT), reported first-quarter 2020 results after the market closed on Wednesday.
Shares fell 5.5% in after-hours trading on Wednesday. We can attribute the market's initial reaction to the company's revenue and earnings missing Wall Street's consensus estimates. This after-hours performance doesn't bode well for Thursday's performance, but the wild card is the earnings call. It's scheduled for 1 p.m. EDT on Thursday. The information management shares on the call could affect the stock either positively or negatively.
Here's how the quarter worked out for Innovative Industrial Properties (also known as IIP) and its investors.
Source Fool.com
