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Innovative Industrial Properties (IIPR) Outpaces Stock Market Gains: What You Should Know
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Innovative Industrial Properties (IIPR - Free Report) closed the most recent trading day at $88.60, moving +0.25% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.14%. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the company had gained 7.91% over the past month, outpacing the Finance sector's loss of 4.09% and the S&P 500's loss of 1.27% in that time.
Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. 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, our latest consensus estimate is calling for revenue of $75.6 million, up 6.66% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.88 per share and revenue of $304.15 million. These totals would mark changes of +5.09% and +10.06%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 currently has a Zacks Rank of #3 (Hold).
Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 9.95. For comparison, its industry has an average Forward P/E of 10.53, which means Innovative Industrial Properties is trading at a discount to the group.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% 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.
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Innovative Industrial Properties (IIPR) Outpaces Stock Market Gains: What You Should Know
Innovative Industrial Properties (IIPR - Free Report) closed the most recent trading day at $88.60, moving +0.25% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.14%. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq added 0.09%.
Heading into today, shares of the company had gained 7.91% over the past month, outpacing the Finance sector's loss of 4.09% and the S&P 500's loss of 1.27% in that time.
Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. 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, our latest consensus estimate is calling for revenue of $75.6 million, up 6.66% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.88 per share and revenue of $304.15 million. These totals would mark changes of +5.09% and +10.06%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 currently has a Zacks Rank of #3 (Hold).
Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 9.95. For comparison, its industry has an average Forward P/E of 10.53, which means Innovative Industrial Properties is trading at a discount to the group.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% 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.