In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $72.68, marking a +0.78% move from the previous day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 1.92%.
Prior to today's trading, shares of the company had lost 11.39% over the past month. This has lagged the Finance sector's gain of 0.25% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. The company is expected to report EPS of $2.04, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $70.8 million, up 9.77% from the year-ago period.
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. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 8.63. Its industry sports an average Forward P/E of 10.79, so we one might conclude that Innovative Industrial Properties is trading at a discount comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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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If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
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In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $72.68, marking a +0.78% move from the previous day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 1.92%.
Prior to today's trading, shares of the company had lost 11.39% over the past month. This has lagged the Finance sector's gain of 0.25% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. The company is expected to report EPS of $2.04, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $70.8 million, up 9.77% from the year-ago period.
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. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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 is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 8.63. Its industry sports an average Forward P/E of 10.79, so we one might conclude that Innovative Industrial Properties is trading at a discount comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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