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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 $88.38 in the latest trading session, marking a +0.57% move from the prior day. This change outpaced the S&P 500's 0.32% loss on the day. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.89%.
Heading into today, shares of the company had gained 7.33% over the past month, outpacing the Finance sector's loss of 2.72% and the S&P 500's loss of 0.12% in that time.
Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. On that day, Innovative Industrial Properties is projected to report earnings of $2.19 per share, which would represent year-over-year growth of 2.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.6 million, up 6.66% from the year-ago period.
IIPR's full-year Zacks Consensus Estimates are calling for earnings of $8.88 per share and revenue of $304.15 million. These results would represent year-over-year changes of +5.09% and +10.06%, respectively.
Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-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. The Zacks Consensus EPS estimate remained stagnant within the past month. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).
Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 9.9. This valuation marks a discount compared to its industry's average Forward P/E of 10.87.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on 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 $88.38 in the latest trading session, marking a +0.57% move from the prior day. This change outpaced the S&P 500's 0.32% loss on the day. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.89%.
Heading into today, shares of the company had gained 7.33% over the past month, outpacing the Finance sector's loss of 2.72% and the S&P 500's loss of 0.12% in that time.
Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. On that day, Innovative Industrial Properties is projected to report earnings of $2.19 per share, which would represent year-over-year growth of 2.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $75.6 million, up 6.66% from the year-ago period.
IIPR's full-year Zacks Consensus Estimates are calling for earnings of $8.88 per share and revenue of $304.15 million. These results would represent year-over-year changes of +5.09% and +10.06%, respectively.
Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-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. The Zacks Consensus EPS estimate remained stagnant within the past month. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).
Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 9.9. This valuation marks a discount compared to its industry's average Forward P/E of 10.87.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.