Innovative Industrial Properties (IIPR) Dips More Than Broader Markets: What You Should Know
Innovative Industrial Properties (IIPR) closed at $172.33 in the latest trading session, marking a -1.86% move from the prior day. This change lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.94%, and the tech-heavy Nasdaq lost 1.12%.
Coming into today, shares of the company had lost 17% in the past month. In that same time, the Finance sector gained 2.38%, while the S&P 500 gained 1.74%.
Investors will be hoping for strength from IIPR as it approaches its next earnings release. The company is expected to report EPS of $1.51, up 34.82% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $41.3 million, up 95.46% from the prior-year quarter.
IIPR's full-year Zacks Consensus Estimates are calling for earnings of $7.30 per share and revenue of $185.8 million. These results would represent year-over-year changes of +46% and +58.94%, respectively.
Investors should also note any recent changes to analyst estimates for IIPR. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 9.77% lower. IIPR is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that IIPR has a Forward P/E ratio of 24.07 right now. Its industry sports an average Forward P/E of 16.96, so we one might conclude that IIPR is trading at a premium comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 17% 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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