We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Innovative Industrial Properties (IIPR) Dipped More Than Broader Market Today
Read MoreHide Full Article
Innovative Industrial Properties (IIPR - Free Report) closed at $93.62 in the latest trading session, marking a -0.92% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 1.15%.
The company's shares have seen a decrease of 3.19% over the last month, surpassing the Finance sector's loss of 6.34% and falling behind the S&P 500's loss of 1.09%.
Investors will be eagerly watching for the performance of Innovative Industrial Properties in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.27, showcasing a 0.89% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $79.65 million, indicating a 4.71% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $9.18 per share and a revenue of $321.45 million, demonstrating changes of +1.1% and +3.86%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Innovative Industrial Properties. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Innovative Industrial Properties boasts a Zacks Rank of #2 (Buy).
Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 10.29. This signifies a discount in comparison to the average Forward P/E of 10.74 for its industry.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Innovative Industrial Properties (IIPR) Dipped More Than Broader Market Today
Innovative Industrial Properties (IIPR - Free Report) closed at $93.62 in the latest trading session, marking a -0.92% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 1.15%.
The company's shares have seen a decrease of 3.19% over the last month, surpassing the Finance sector's loss of 6.34% and falling behind the S&P 500's loss of 1.09%.
Investors will be eagerly watching for the performance of Innovative Industrial Properties in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.27, showcasing a 0.89% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $79.65 million, indicating a 4.71% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $9.18 per share and a revenue of $321.45 million, demonstrating changes of +1.1% and +3.86%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Innovative Industrial Properties. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Innovative Industrial Properties boasts a Zacks Rank of #2 (Buy).
Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 10.29. This signifies a discount in comparison to the average Forward P/E of 10.74 for its industry.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.