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Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: What You Should Know
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Innovative Industrial Properties (IIPR - Free Report) closed at $74.28 in the latest trading session, marking a -1.82% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.67%.
Coming into today, shares of the company had lost 13.75% in the past month. In that same time, the Finance sector lost 3.49%, while the S&P 500 lost 4.45%.
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 $2.19 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.88 per share and revenue of $304.15 million, which would represent changes of +5.09% and +10.06%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Innovative Industrial Properties is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Innovative Industrial Properties has a Forward P/E ratio of 8.52 right now. Its industry sports an average Forward P/E of 10.21, 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 group has a Zacks Industry Rank of 177, putting it in the bottom 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: What You Should Know
Innovative Industrial Properties (IIPR - Free Report) closed at $74.28 in the latest trading session, marking a -1.82% move from the prior day. This change lagged the S&P 500's daily gain of 0.01%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.67%.
Coming into today, shares of the company had lost 13.75% in the past month. In that same time, the Finance sector lost 3.49%, while the S&P 500 lost 4.45%.
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 $2.19 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.88 per share and revenue of $304.15 million, which would represent changes of +5.09% and +10.06%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Innovative Industrial Properties is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Innovative Industrial Properties has a Forward P/E ratio of 8.52 right now. Its industry sports an average Forward P/E of 10.21, 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 group has a Zacks Industry Rank of 177, putting it in the bottom 30% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.