PARK CITY, Utah (AP) — PARK CITY, Utah (AP) — Innovative Industrial Properties, Inc. (IIPR) on Wednesday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Park City, Utah, said it had funds from operations of $63.4 million, or $2.22 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 $39.5 million, or $1.36 per share.
Innovative Industrial Properties, based in Park City, Utah, posted revenue of $76.7 million in the period, which met Street forecasts.
For the year, the company reported funds from operations of $256.1 million. Revenue was reported as $308.5 million.
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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
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