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Innovative Industrial Properties (IIPR) Stock Moves -0.7%: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Innovative Industrial Properties (IIPR) closed at $109.87, marking a -0.7% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq added 0.08%.

Prior to today's trading, shares of the company had lost 16.69% over the past month. This has lagged the Finance sector's loss of 9.44% and the S&P 500's loss of 8.06% in that time.

Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. On that day, Innovative Industrial Properties is projected to report earnings of $2.02 per share, which would represent year-over-year growth of 23.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $68.5 million, up 40.17% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $8.44 per share and revenue of $279.35 million, which would represent changes of +26.73% and +36.57%, respectively, from the prior year.

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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 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 holding a Zacks Rank of #4 (Sell) right now.

Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 13.11. For comparison, its industry has an average Forward P/E of 12.76, which means Innovative Industrial Properties is trading at a premium to the group.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
 
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