Cannabis REIT IIP Touts Strong Acquisitions And Portfolio Performance In Q1

Cannabis REIT Innovative Industrial Properties, Inc. (NYSE: IIPR) announced Wednesday that its total revenue increased by 103% year-over-year to $42.9 million in the first quarter of 2021.

Net income for the same period was roughly $25.6 million, or $1.05 per diluted share, representing an annual growth of 122%.

Adjusted funds from operations amounted to approximately $38.4 million, or $1.47 per diluted share – an increase of 116% year-over-year.

The significant yearly increase in revenue, net income and AFFO can be attributed to the acquisition and leasing of new properties and operations related to …

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