The U.S. Cannabis Industry Is Poised to Get a Long-Term Tailwind from COVID-19
Innovative Industrial Properties (NYSE: IIPR), a cannabis industry-focused real estate investment trust (REIT), reported strong second quarter results earlier this month. Revenue soared 183%, earnings per share surged 143%, and adjusted funds from operations (FFO) per share jumped 102% year over year. (FFO is a key profitability metric for REITs that drives dividend payouts.)
Innovative Industrial Properties' (also known as IIP) continued robust financial performance in 2020 has helped propel its stock to return 70.9% this year through Aug. 28. For context, the S&P 500 has returned 10% over this period.
Earnings releases only tell part of the story, however. Management often shares valuable information on the analyst conference calls that follow a company's release of its financial results. Indeed, that was the case with IIP's second quarter earnings call. Here are three key things from that call that you should know:
Source Fool.com
