Innovative Industrial Properties (IIPR) closed the most recent trading day at $79.18, moving -1.35% from the previous trading session. This move lagged the S&P 500's daily gain of 0.89%. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq lost 0.68%.
Heading into today, shares of the company had lost 7.49% over the past month, outpacing the Finance sector's loss of 11.27% and lagging the S&P 500's loss of 3.9% in that time.
Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. On that day, Innovative Industrial Properties is projected to report earnings of $2.04 per share, which would represent 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.
IIPR's full-year Zacks Consensus Estimates are calling for earnings of $8.36 per share and revenue of $289.9 million. These results would represent year-over-year changes of -1.07% and +4.9%, respectively.
Investors might also notice recent changes to analyst estimates for Innovative Industrial Properties. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% higher. Innovative Industrial Properties currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 9.6. This represents a discount compared to its industry's average Forward P/E of 10.71.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% 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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