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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 the most recent trading day at $87.11, moving +0.67% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.22%. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.
Coming into today, shares of the company had gained 10.09% in the past month. In that same time, the Finance sector gained 0.72%, while the S&P 500 gained 0.54%.
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, 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.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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 9.74. This represents a discount compared to its industry's average Forward P/E of 11.16.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 24% 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) Gains As Market Dips: What You Should Know
Innovative Industrial Properties (IIPR - Free Report) closed the most recent trading day at $87.11, moving +0.67% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.22%. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.
Coming into today, shares of the company had gained 10.09% in the past month. In that same time, the Finance sector gained 0.72%, while the S&P 500 gained 0.54%.
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, 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.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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 9.74. This represents a discount compared to its industry's average Forward P/E of 11.16.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 24% 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.