Innovative Industrial Properties, Inc. (IIPR - Free Report) closed at $105.32 in the latest trading session, marking a +1.2% move from the prior day. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.85%, while the tech-heavy Nasdaq added 0.43%.
Heading into today, shares of the company had gained 11% over the past month, outpacing the Finance sector's gain of 6.36% and the S&P 500's gain of 6.78% in that time.
IIPR will be looking to display strength as it nears its next earnings release, which is expected to be August 5, 2020. In that report, analysts expect IIPR to post earnings of $1.22 per share. This would mark year-over-year growth of 106.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.40 million, up 194.66% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.91 per share and revenue of $111.20 million, which would represent changes of +50.15% and +148.95%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for IIPR. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 2.29% lower within the past month. IIPR is currently a Zacks Rank #3 (Hold).
Looking at its valuation, IIPR is holding a Forward P/E ratio of 21.22. Its industry sports an average Forward P/E of 15.46, so we one might conclude that IIPR 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 202, which puts it in the bottom 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.