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Why Innovative Industrial Properties (IIPR) Outpaced the Stock Market Today
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Innovative Industrial Properties (IIPR - Free Report) closed at $123.52 in the latest trading session, marking a +0.48% move from the prior day. This move outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, added 0.07%.
The company's shares have seen an increase of 12.55% over the last month, surpassing the Finance sector's loss of 1.27% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Innovative Industrial Properties in its forthcoming earnings report. The company is scheduled to release its earnings on August 5, 2024. The company is predicted to post an EPS of $2.23, indicating a 1.33% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $78.35 million, up 2.47% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.02 per share and a revenue of $309.65 million, representing changes of -0.66% and +0.05%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.41% downward. Right now, Innovative Industrial Properties possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 13.63. This represents a premium compared to its industry's average Forward P/E of 12.83.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why Innovative Industrial Properties (IIPR) Outpaced the Stock Market Today
Innovative Industrial Properties (IIPR - Free Report) closed at $123.52 in the latest trading session, marking a +0.48% move from the prior day. This move outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, added 0.07%.
The company's shares have seen an increase of 12.55% over the last month, surpassing the Finance sector's loss of 1.27% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Innovative Industrial Properties in its forthcoming earnings report. The company is scheduled to release its earnings on August 5, 2024. The company is predicted to post an EPS of $2.23, indicating a 1.33% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $78.35 million, up 2.47% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.02 per share and a revenue of $309.65 million, representing changes of -0.66% and +0.05%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.41% downward. Right now, Innovative Industrial Properties possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 13.63. This represents a premium compared to its industry's average Forward P/E of 12.83.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.