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Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $197.99, marking a -1.07% move from the previous day. This move lagged the S&P 500's daily gain of 0.51%. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 0.1%.
Prior to today's trading, shares of the company had gained 9.25% over the past month. This has outpaced the Finance sector's gain of 3.68% and the S&P 500's gain of 5.51% in that time.
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 $2.01, up 36.73% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $62.75 million, up 46.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.71 per share and revenue of $268.45 million, which would represent changes of +30.78% and +31.24%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.84% lower. Innovative Industrial Properties is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 22.98. Its industry sports an average Forward P/E of 15.29, 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 group has a Zacks Industry Rank of 113, putting it in the top 45% 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.
To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.
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Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $197.99, marking a -1.07% move from the previous day. This move lagged the S&P 500's daily gain of 0.51%. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 0.1%.
Prior to today's trading, shares of the company had gained 9.25% over the past month. This has outpaced the Finance sector's gain of 3.68% and the S&P 500's gain of 5.51% in that time.
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 $2.01, up 36.73% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $62.75 million, up 46.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.71 per share and revenue of $268.45 million, which would represent changes of +30.78% and +31.24%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.84% lower. Innovative Industrial Properties is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 22.98. Its industry sports an average Forward P/E of 15.29, 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 group has a Zacks Industry Rank of 113, putting it in the top 45% 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.
To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.