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Innovative Industrial Properties (IIPR) Gains But Lags Market: What You Should Know
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Innovative Industrial Properties (IIPR - Free Report) closed at $76.34 in the latest trading session, marking a +0.7% move from the prior day. This move lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Prior to today's trading, shares of the company had gained 4.81% over the past month. This has outpaced the Finance sector's gain of 2.29% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.11 per share. This would mark a year-over-year decline of 1.4%. Meanwhile, our latest consensus estimate is calling for revenue of $72.1 million, up 2.25% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.66 per share and revenue of $293.85 million. These totals would mark changes of +2.49% and +6.33%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 8.75. For comparison, its industry has an average Forward P/E of 11.59, which means Innovative Industrial Properties is trading at a discount to the group.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 37% 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.
To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.
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Innovative Industrial Properties (IIPR) Gains But Lags Market: What You Should Know
Innovative Industrial Properties (IIPR - Free Report) closed at $76.34 in the latest trading session, marking a +0.7% move from the prior day. This move lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Prior to today's trading, shares of the company had gained 4.81% over the past month. This has outpaced the Finance sector's gain of 2.29% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.11 per share. This would mark a year-over-year decline of 1.4%. Meanwhile, our latest consensus estimate is calling for revenue of $72.1 million, up 2.25% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.66 per share and revenue of $293.85 million. These totals would mark changes of +2.49% and +6.33%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 8.75. For comparison, its industry has an average Forward P/E of 11.59, which means Innovative Industrial Properties is trading at a discount to the group.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 37% 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.
To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.