Yahoo Finance Innovative Industrial Properties (IIPR) Gains As Market Dips: What You Should Know
In the latest trading session, Innovative Industrial Properties (IIPR) closed at $68.32, marking a +0.77% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.86%, while the tech-heavy Nasdaq added 1.39%.
Coming into today, shares of the company had lost 5.95% in the past month. In that same time, the Finance sector lost 0.89%, while the S&P 500 lost 0.68%.
Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release, which is expected to be May 8, 2023. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.04 per share. This would mark no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $70.8 million, up 9.77% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.36 per share and revenue of $289.9 million, which would represent changes of -1.07% and +4.9%, respectively, from the prior year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Innovative Industrial Properties is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 8.11. Its industry sports an average Forward P/E of 10.81, 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 167, putting it in the bottom 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report