Innovative Industrial Properties: Q1 Earnings Snapshot
PARK CITY, Utah (AP) — PARK CITY, Utah (AP) — Innovative Industrial Properties, Inc. (IIPR) on Wednesday reported a key measure of profitability in its first quarter. The results missed Wall Street expectations.
The Park City, Utah-based real estate investment trust said it had funds from operations of $55.3 million, or $1.94 per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of $1.99 per share.
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 $30.3 million, or $1.03 per share.
Innovative Industrial Properties, based in Park City, Utah, posted revenue of $71.7 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $70.8 million.
_____
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
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
33 minutes ago
- Yahoo
WEAVE LIVING and KKR Build on Strategic Partnership with Acquisition of Portfolio of Residential Properties in Prime Central Tokyo
Over 240 new units in upscale Tokyo locations set to open from Autumn 2025 TOKYO, June 10, 2025--(BUSINESS WIRE)--WEAVE LIVING, Asia-Pacific's pre-eminent living sector specialist, and KKR, a leading global investment firm, today announced the signing of definitive agreements to acquire six properties in prime Tokyo locations. The move builds on the continued momentum of the Weave Living Japan Residential Venture I ("WLJRV I") strategic partnership between WEAVE LIVING and KKR. With the latest acquisitions, the strategic partnership has grown its portfolio to 17 properties within the first six months of its establishment. Three of these new acquisitions are located in Tokyo's upscale Minato ward neighbourhoods of Roppongi, Minami Azabu and Shirokane. WEAVE LIVING will also introduce its premium WEAVE RESIDENCES brand as part of its Roppongi and Minami Azabu offerings, featuring luxurious, metropolitan living in spacious, fully furnished family-friendly homes, complete with modern decor, and thoughtful design finishes. These homes will help meet growing demand by discerning executives seeking an elevated living experience in the supply-constrained Minato area. The remaining locations will expand the WEAVE PLACE brand, offering beautifully designed private apartments with various furnished options catering to the respective needs of a diverse tenant base including local professionals, expatriates and corporates. Under these plans, more than 240 fully-furnished luxury rental properties are expected to be ready starting from fall 2025. "As part of our steady growth in the Japan market and across Asia-Pacific, we are thrilled to expand our collaboration with KKR and our Japan-based offering to six new locations that are extremely desirable even by Tokyo standards," said Sachin Doshi, Founder and Group CEO of WEAVE LIVING. "Also factoring in the planned Japan debut of our WEAVE RESIDENCES brand, this is a further demonstration of our commitment to offering an ever-wider selection of living options to renters at various life stages, with an emphasis on the distinctive attractiveness of each of the fantastic locations that make up our expanded portfolio in Tokyo." Kensuke Kudo, Managing Director, Real Estate, KKR, said, "We are proud of the strong momentum that our strategic partnership with WEAVE LIVING has achieved in a short span of time. This expansion underscores our conviction in the long-term fundamentals of Japan's residential sector and ability to deliver high-quality, differentiated offerings to meet the evolving residential needs of corporates and executives in Japan. We look forward to continued collaboration with Sachin to scale this promising platform." KKR is making its investment from its Asia real estate strategy. The transaction adds to KKR's continued activity and momentum in Japan's real estate sector across different real estate investment strategies, including KJR Management, a leading Japanese real estate manager that oversees two J-REITs; hospitality and office assets across Japan; and a portfolio of multifamily properties in Tokyo. A full overview of WEAVE LIVING's existing Tokyo locations can be found on the recently revamped WEAVE LIVING website, along with details on a unique rental offering that includes flexible lease periods; transparent payment plans inclusive of all Wi-Fi and utilities; a fully digital-first leasing experience; tenant support via the proprietary WEAVE LIVING mobile app; and a welcome respite from prohibitive up-front charges typical in the Japanese multi-family rental market. Leasing enquiriesTel: (+81) 03-6262-5628Email: Existing locations: Weave Place – Shinkamata, Weave Place – Kanda East, Weave Place – Asakusa South, Weave Place – Asakusa Kaminarimon, Weave Place – Ueno South, Weave Place – Waseda Park, Weave Place – Higashi-Koenji, Weave Place – Monzennakacho, Weave Place – Morishita, Weave Place – Ryogoku, Weave Place – Kunitachi For full details of property lineup and available units, and to request viewings, please visit About WEAVE LIVINGWeave Living is a leading provider of urban rental accommodation in key gateway cities throughout Asia Pacific. Since its founding in 2017 by Sachin Doshi, Weave has reimagined renting a home in big cities so more people can live their best life, wherever they are on their adventure. Weave currently offers four unique living options that cater to a diverse range of modern lifestyles: luxurious Weave Residences; fully serviced Weave Suites; self-contained Weave Place; and social co-living Weave Studios. Each class-leading home combines modern aesthetics, superior finishes, and a fully tech-enabled experience together with superior comfort and flexibility in the best urban locations. At present, Weave owns and manages residential properties in Hong Kong, Singapore, Japan, and South Korea, with more on the way. Weave LivingWebsite: Instagram: @liveatweave Facebook: @liveatweave About KKRKKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at View source version on Contacts Media Enquiries This press release is disseminated by Kyodo PR on behalf of Weave Living. For more information or for interview opportunities, please contact: David McMahon (English)Email: Tel: (+81) 080-8914-9376 Aya Asoshina (Japanese)Email: a-asoshina@ Tel: (+81) 070-4303-7299 For KKR: Wei Jun Ong+65 6922 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
38 minutes ago
- Business Wire
WEAVE LIVING and KKR Build on Strategic Partnership with Acquisition of Portfolio of Residential Properties in Prime Central Tokyo
TOKYO--(BUSINESS WIRE)--WEAVE LIVING, Asia-Pacific's pre-eminent living sector specialist, and KKR, a leading global investment firm, today announced the signing of definitive agreements to acquire six properties in prime Tokyo locations. The move builds on the continued momentum of the Weave Living Japan Residential Venture I ('WLJRV I') strategic partnership between WEAVE LIVING and KKR. With the latest acquisitions, the strategic partnership has grown its portfolio to 17 properties within the first six months of its establishment. Three of these new acquisitions are located in Tokyo's upscale Minato ward neighbourhoods of Roppongi, Minami Azabu and Shirokane. WEAVE LIVING will also introduce its premium WEAVE RESIDENCES brand as part of its Roppongi and Minami Azabu offerings, featuring luxurious, metropolitan living in spacious, fully furnished family-friendly homes, complete with modern decor, and thoughtful design finishes. These homes will help meet growing demand by discerning executives seeking an elevated living experience in the supply-constrained Minato area. The remaining locations will expand the WEAVE PLACE brand, offering beautifully designed private apartments with various furnished options catering to the respective needs of a diverse tenant base including local professionals, expatriates and corporates. Under these plans, more than 240 fully-furnished luxury rental properties are expected to be ready starting from fall 2025. 'As part of our steady growth in the Japan market and across Asia-Pacific, we are thrilled to expand our collaboration with KKR and our Japan-based offering to six new locations that are extremely desirable even by Tokyo standards,' said Sachin Doshi, Founder and Group CEO of WEAVE LIVING. 'Also factoring in the planned Japan debut of our WEAVE RESIDENCES brand, this is a further demonstration of our commitment to offering an ever-wider selection of living options to renters at various life stages, with an emphasis on the distinctive attractiveness of each of the fantastic locations that make up our expanded portfolio in Tokyo.' Kensuke Kudo, Managing Director, Real Estate, KKR, said, 'We are proud of the strong momentum that our strategic partnership with WEAVE LIVING has achieved in a short span of time. This expansion underscores our conviction in the long-term fundamentals of Japan's residential sector and ability to deliver high-quality, differentiated offerings to meet the evolving residential needs of corporates and executives in Japan. We look forward to continued collaboration with Sachin to scale this promising platform.' KKR is making its investment from its Asia real estate strategy. The transaction adds to KKR's continued activity and momentum in Japan's real estate sector across different real estate investment strategies, including KJR Management, a leading Japanese real estate manager that oversees two J-REITs; hospitality and office assets across Japan; and a portfolio of multifamily properties in Tokyo. A full overview of WEAVE LIVING's existing Tokyo locations can be found on the recently revamped WEAVE LIVING website, along with details on a unique rental offering that includes flexible lease periods; transparent payment plans inclusive of all Wi-Fi and utilities; a fully digital-first leasing experience; tenant support via the proprietary WEAVE LIVING mobile app; and a welcome respite from prohibitive up-front charges typical in the Japanese multi-family rental market. Existing locations: Weave Place – Shinkamata, Weave Place – Kanda East, Weave Place – Asakusa South, Weave Place – Asakusa Kaminarimon, Weave Place – Ueno South, Weave Place – Waseda Park, Weave Place – Higashi-Koenji, Weave Place – Monzennakacho, Weave Place – Morishita, Weave Place – Ryogoku, Weave Place – Kunitachi For full details of property lineup and available units, and to request viewings, please visit About WEAVE LIVING Weave Living is a leading provider of urban rental accommodation in key gateway cities throughout Asia Pacific. Since its founding in 2017 by Sachin Doshi, Weave has reimagined renting a home in big cities so more people can live their best life, wherever they are on their adventure. Weave currently offers four unique living options that cater to a diverse range of modern lifestyles: luxurious Weave Residences; fully serviced Weave Suites; self-contained Weave Place; and social co-living Weave Studios. Each class-leading home combines modern aesthetics, superior finishes, and a fully tech-enabled experience together with superior comfort and flexibility in the best urban locations. At present, Weave owns and manages residential properties in Hong Kong, Singapore, Japan, and South Korea, with more on the way. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at
Yahoo
an hour ago
- Yahoo
BlackBerry (BB) Exceeds Market Returns: Some Facts to Consider
The most recent trading session ended with BlackBerry (BB) standing at $4.21, reflecting a +1.94% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.09%. Prior to today's trading, shares of the cybersecurity software and services company had gained 8.4% over the past month. This has lagged the Computer and Technology sector's gain of 11.17% and outpaced the S&P 500's gain of 7.21% in that time. Market participants will be closely following the financial results of BlackBerry in its upcoming release. The company plans to announce its earnings on June 24, 2025. The company's upcoming EPS is projected at $0, signifying a 100% increase compared to the same quarter of the previous year. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.10 per share and revenue of $521 million, indicating changes of +400% and -13.88%, respectively, compared to the previous year. Investors should also note any recent changes to analyst estimates for BlackBerry. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. BlackBerry presently features a Zacks Rank of #3 (Hold). From a valuation perspective, BlackBerry is currently exchanging hands at a Forward P/E ratio of 41.3. This expresses a premium compared to the average Forward P/E of 29.83 of its industry. The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 57, finds itself in the top 24% echelons of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BlackBerry Limited (BB) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
