Yahoo Finance Innovative Industrial Properties (IIPR) Outpaces Stock Market Gains: What You Should Know
Innovative Industrial Properties (IIPR) closed the most recent trading day at $68.55, moving +1.08% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.83%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 4.46%.
Coming into today, shares of the company had lost 8.99% in the past month. In that same time, the Finance sector gained 3.88%, while the S&P 500 gained 4.04%.
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, the Zacks Consensus Estimate for revenue is projecting net sales of $70.8 million, up 9.77% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.36 per share and revenue of $289.9 million. These totals would mark changes of -1.07% and +4.9%, respectively, from last 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 8.11. This represents a discount compared to its industry's average Forward P/E of 10.69.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 114, which puts it in the top 46% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
