Innovative Industrial Properties (IIPR) Advances But Underperforms Market: Key Facts
Innovative Industrial Properties (IIPR) closed the most recent trading day at $93.64, moving +0.2% from the previous trading session. This move lagged the S&P 500's daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.
Shares of the company have depreciated by 9.91% over the course of the past month, underperforming the Finance sector's loss of 2.41% and the S&P 500's gain of 2.48%.
The investment community will be paying close attention to the earnings performance of Innovative Industrial Properties in its upcoming release. It is anticipated that the company will report an EPS of $2.27, marking a 7.08% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $77.25 million, indicating a 9.64% upward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Innovative Industrial Properties. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Innovative Industrial Properties possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Innovative Industrial Properties is presently trading at a Forward P/E ratio of 10.2. This expresses a discount compared to the average Forward P/E of 11.22 of its industry.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 149, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
