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Innovative Industrial Properties (IIPR) Gains As Market Dips: What You Should Know
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Innovative Industrial Properties (IIPR - Free Report) closed at $74.67 in the latest trading session, marking a +1.18% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.37%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 1.18%.
Prior to today's trading, shares of the company had gained 4.46% over the past month. This has lagged the Finance sector's gain of 6.02% and the S&P 500's gain of 7.18% 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 $2.11, down 1.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $72.1 million, up 2.25% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.66 per share and revenue of $293.85 million. These totals would mark changes of +2.49% and +6.33%, respectively, from last year.
It is also important to note the 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 8.52. Its industry sports an average Forward P/E of 11.93, 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 industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% 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) Gains As Market Dips: What You Should Know
Innovative Industrial Properties (IIPR - Free Report) closed at $74.67 in the latest trading session, marking a +1.18% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.37%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 1.18%.
Prior to today's trading, shares of the company had gained 4.46% over the past month. This has lagged the Finance sector's gain of 6.02% and the S&P 500's gain of 7.18% 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 $2.11, down 1.4% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $72.1 million, up 2.25% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.66 per share and revenue of $293.85 million. These totals would mark changes of +2.49% and +6.33%, respectively, from last year.
It is also important to note the 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 8.52. Its industry sports an average Forward P/E of 11.93, 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 industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% 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.