Innovative Industrial Properties Misses on Q4 Results

Innovative Industrial Properties Misses on Q4 Results
Eric Volkman, The Motley Fool
·2 min read

For the period, Innovative's total revenue was $37.09 million, more than double the $17.67 million it earned in the same quarter the preceding year. Adjusted funds from operations (AFFO), considered a truer measure of profitability for REITs, doubled and then some to roughly $32.4 million. As a REIT, much of Innovative's growth during the quarter came from new properties in its portfolio.