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Innovative Industrial Properties (IIPR - Free Report) closed the most recent trading day at $97.71, moving -0.17% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 2.03%.
The company's stock has dropped by 5.47% in the past month, falling short of the Finance sector's loss of 5.37% and the S&P 500's loss of 3.15%.
The upcoming earnings release of Innovative Industrial Properties will be of great interest to investors. The company's earnings report is expected on May 8, 2024. The company is expected to report EPS of $2.27, up 0.89% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $79.65 million, indicating a 4.71% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.18 per share and revenue of $321.45 million. These totals would mark changes of +1.1% and +3.86%, respectively, from last year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Innovative Industrial Properties holds a Zacks Rank of #2 (Buy).
In terms of valuation, Innovative Industrial Properties is presently being traded at a Forward P/E ratio of 10.66. For comparison, its industry has an average Forward P/E of 11.34, 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. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: Here's Why
Innovative Industrial Properties (IIPR - Free Report) closed the most recent trading day at $97.71, moving -0.17% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 2.03%.
The company's stock has dropped by 5.47% in the past month, falling short of the Finance sector's loss of 5.37% and the S&P 500's loss of 3.15%.
The upcoming earnings release of Innovative Industrial Properties will be of great interest to investors. The company's earnings report is expected on May 8, 2024. The company is expected to report EPS of $2.27, up 0.89% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $79.65 million, indicating a 4.71% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.18 per share and revenue of $321.45 million. These totals would mark changes of +1.1% and +3.86%, respectively, from last year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Innovative Industrial Properties holds a Zacks Rank of #2 (Buy).
In terms of valuation, Innovative Industrial Properties is presently being traded at a Forward P/E ratio of 10.66. For comparison, its industry has an average Forward P/E of 11.34, 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. Currently, this industry holds a Zacks Industry Rank of 147, positioning it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.