Why Innovative Industrial Properties Stock Is Rising Higher This Week
Shares of leading cannabis-focused real estate investment trust (REIT) Innovative Industrial Properties (IIPR 3.04%) are up 16% this week as of 3 p.m. ET on Friday after the company announced fourth-quarter earnings. While revenue and funds from operations (FFO) each declined 13% in Q4, these figures easily exceeded Wall Street's expectations, helping push shares higher. A lot of this slowdown stems from litigation tied to defaults will that keep resolving with time, so the drop in revenue and FFO is worse ...