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Innovative Industrial Properties (IIPR) Gains As Market Dips: What You Should Know
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Innovative Industrial Properties (IIPR - Free Report) closed at $69.89 in the latest trading session, marking a +0.87% move from the prior day. This move outpaced the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Prior to today's trading, shares of the company had lost 11.95% over the past month. This has lagged the Finance sector's gain of 6.87% and the S&P 500's gain of 6.23% in that time.
Innovative Industrial Properties will be looking to display strength as it nears its next earnings release. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.04 per share. This would mark no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $70.8 million, up 9.77% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.36 per share and revenue of $289.9 million, which would represent changes of -1.07% and +4.9%, respectively, from the prior year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Innovative Industrial Properties currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 8.29. This represents a discount compared to its industry's average Forward P/E of 10.76.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Innovative Industrial Properties (IIPR) Gains As Market Dips: What You Should Know
Innovative Industrial Properties (IIPR - Free Report) closed at $69.89 in the latest trading session, marking a +0.87% move from the prior day. This move outpaced the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Prior to today's trading, shares of the company had lost 11.95% over the past month. This has lagged the Finance sector's gain of 6.87% and the S&P 500's gain of 6.23% in that time.
Innovative Industrial Properties will be looking to display strength as it nears its next earnings release. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.04 per share. This would mark no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $70.8 million, up 9.77% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.36 per share and revenue of $289.9 million, which would represent changes of -1.07% and +4.9%, respectively, from the prior year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Innovative Industrial Properties currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 8.29. This represents a discount compared to its industry's average Forward P/E of 10.76.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.