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Innovative Industrial Properties (IIPR) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $102.68, marking a +1.12% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Heading into today, shares of the company had lost 7.6% over the past month, lagging the Finance sector's gain of 2.1% and the S&P 500's loss of 0.94% in that time.
Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.03 per share. This would mark year-over-year growth of 9.73%. Our most recent consensus estimate is calling for quarterly revenue of $70 million, up 18.76% from the year-ago period.
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.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 11.74. This valuation marks a premium compared to its industry's average Forward P/E of 11.66.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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Innovative Industrial Properties (IIPR) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $102.68, marking a +1.12% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Heading into today, shares of the company had lost 7.6% over the past month, lagging the Finance sector's gain of 2.1% and the S&P 500's loss of 0.94% in that time.
Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.03 per share. This would mark year-over-year growth of 9.73%. Our most recent consensus estimate is calling for quarterly revenue of $70 million, up 18.76% from the year-ago period.
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.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 11.74. This valuation marks a premium compared to its industry's average Forward P/E of 11.66.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.