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Innovative Industrial Properties (IIPR) Outperforms Broader Market: What You Need to Know
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The latest trading session saw Innovative Industrial Properties (IIPR - Free Report) ending at $98.69, denoting a +0.06% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.
Heading into today, shares of the company had lost 4.78% over the past month, outpacing the Finance sector's loss of 4.82% and lagging the S&P 500's loss of 3.01% in that time.
Market participants will be closely following the financial results of Innovative Industrial Properties in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company is expected to report EPS of $2.27, up 0.89% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $79.65 million, up 4.71% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.18 per share and revenue of $321.45 million, indicating changes of +1.1% and +3.86%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Innovative Industrial Properties holds a Zacks Rank of #2 (Buy).
In the context of valuation, Innovative Industrial Properties is at present trading with a Forward P/E ratio of 10.74. This signifies a discount in comparison to the average Forward P/E of 11.12 for its industry.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered 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) Outperforms Broader Market: What You Need to Know
The latest trading session saw Innovative Industrial Properties (IIPR - Free Report) ending at $98.69, denoting a +0.06% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.
Heading into today, shares of the company had lost 4.78% over the past month, outpacing the Finance sector's loss of 4.82% and lagging the S&P 500's loss of 3.01% in that time.
Market participants will be closely following the financial results of Innovative Industrial Properties in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company is expected to report EPS of $2.27, up 0.89% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $79.65 million, up 4.71% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.18 per share and revenue of $321.45 million, indicating changes of +1.1% and +3.86%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Innovative Industrial Properties holds a Zacks Rank of #2 (Buy).
In the context of valuation, Innovative Industrial Properties is at present trading with a Forward P/E ratio of 10.74. This signifies a discount in comparison to the average Forward P/E of 11.12 for its industry.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered 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.