Innovative Industrial Properties (IIPR - Free Report) closed at $114.68 in the latest trading session, marking a -1.33% move from the prior day. This move lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the company had lost 10.9% in the past month. In that same time, the Finance sector lost 8.36%, while the S&P 500 lost 6.03%.
Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. The company is expected to report EPS of $2.02, up 23.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $68.5 million, up 40.17% from the prior-year quarter.
IIPR's full-year Zacks Consensus Estimates are calling for earnings of $8.44 per share and revenue of $279.35 million. These results would represent year-over-year changes of +26.73% and +36.57%, respectively.
Investors might also notice recent changes to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 13.77. Its industry sports an average Forward P/E of 12.69, 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 85, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Innovative Industrial Properties (IIPR - Free Report) closed at $114.68 in the latest trading session, marking a -1.33% move from the prior day. This move lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the company had lost 10.9% in the past month. In that same time, the Finance sector lost 8.36%, while the S&P 500 lost 6.03%.
Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. The company is expected to report EPS of $2.02, up 23.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $68.5 million, up 40.17% from the prior-year quarter.
IIPR's full-year Zacks Consensus Estimates are calling for earnings of $8.44 per share and revenue of $279.35 million. These results would represent year-over-year changes of +26.73% and +36.57%, respectively.
Investors might also notice recent changes to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 13.77. Its industry sports an average Forward P/E of 12.69, 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 85, which puts it in the top 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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 >>
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