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Strength Seen in Innovative Industrial Properties (IIPR): Can Its 5.7% Jump Turn into More Strength?
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Innovative Industrial Properties (IIPR - Free Report) shares rallied 5.7% in the last trading session to close at $55.85. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.6% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This company is expected to post quarterly FFO of $1.87 per share in its upcoming report, which represents a year-over-year change of -3.6%. Revenues are expected to be $66.9 million, down 6.7% from the year-ago quarter.
FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.
For Innovative Industrial Properties, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on IIPR going forward to see if this recent jump can turn into more strength down the road.
Innovative Industrial Properties is a member of the Zacks REIT and Equity Trust - Other industry. One other stock in the same industry, Alexandria Real Estate Equities (ARE - Free Report) , finished the last trading session 2.4% lower at $46.65. ARE has returned 0.9% over the past month.
Alexandria Real Estate Equities' consensus FFO per share estimate for the upcoming report has changed -0.2% over the past month to $1.74. Compared to the company's year-ago FFO per share, this represents a change of -24.4%. Alexandria Real Estate Equities currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Innovative Industrial Properties (IIPR): Can Its 5.7% Jump Turn into More Strength?
Innovative Industrial Properties (IIPR - Free Report) shares rallied 5.7% in the last trading session to close at $55.85. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.6% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This company is expected to post quarterly FFO of $1.87 per share in its upcoming report, which represents a year-over-year change of -3.6%. Revenues are expected to be $66.9 million, down 6.7% from the year-ago quarter.
FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.
For Innovative Industrial Properties, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on IIPR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Innovative Industrial Properties is a member of the Zacks REIT and Equity Trust - Other industry. One other stock in the same industry, Alexandria Real Estate Equities (ARE - Free Report) , finished the last trading session 2.4% lower at $46.65. ARE has returned 0.9% over the past month.
Alexandria Real Estate Equities' consensus FFO per share estimate for the upcoming report has changed -0.2% over the past month to $1.74. Compared to the company's year-ago FFO per share, this represents a change of -24.4%. Alexandria Real Estate Equities currently boasts a Zacks Rank of #3 (Hold).