In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $129.23, marking a -0.92% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.91%. Elsewhere, the Dow lost 2.73%, while the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the company had gained 2.78% in the past month. In that same time, the Finance sector gained 1%, while the S&P 500 gained 0.84%.
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 $2.02 per share. This would mark year-over-year growth of 23.17%. Meanwhile, our latest consensus estimate is calling for revenue of $68.5 million, up 40.17% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.44 per share and revenue of $279.35 million. These totals would mark changes of +26.73% and +36.57%, respectively, from last year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 remained stagnant. Innovative Industrial Properties currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 15.45. Its industry sports an average Forward P/E of 13.41, so we one might conclude that Innovative Industrial Properties is trading at a premium comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $129.23, marking a -0.92% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.91%. Elsewhere, the Dow lost 2.73%, while the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the company had gained 2.78% in the past month. In that same time, the Finance sector gained 1%, while the S&P 500 gained 0.84%.
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 $2.02 per share. This would mark year-over-year growth of 23.17%. Meanwhile, our latest consensus estimate is calling for revenue of $68.5 million, up 40.17% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.44 per share and revenue of $279.35 million. These totals would mark changes of +26.73% and +36.57%, respectively, from last year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 remained stagnant. Innovative Industrial Properties currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 15.45. Its industry sports an average Forward P/E of 13.41, so we one might conclude that Innovative Industrial Properties is trading at a premium comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on IIPR - FREE