U.S. markets closed
  • S&P 500

    3,841.94
    +73.47 (+1.95%)
     
  • Dow 30

    31,496.30
    +572.16 (+1.85%)
     
  • Nasdaq

    12,920.15
    +196.68 (+1.55%)
     
  • Russell 2000

    2,192.21
    +45.29 (+2.11%)
     
  • Crude Oil

    66.28
    +2.45 (+3.84%)
     
  • Gold

    1,698.20
    -2.50 (-0.15%)
     
  • Silver

    25.30
    -0.17 (-0.65%)
     
  • EUR/USD

    1.1925
    -0.0054 (-0.45%)
     
  • 10-Yr Bond

    1.5540
    +0.0040 (+0.26%)
     
  • GBP/USD

    1.3827
    -0.0067 (-0.48%)
     
  • USD/JPY

    108.2450
    +0.2690 (+0.25%)
     
  • BTC-USD

    48,705.18
    +1,858.46 (+3.97%)
     
  • CMC Crypto 200

    982.93
    +39.75 (+4.21%)
     
  • FTSE 100

    6,630.52
    -20.36 (-0.31%)
     
  • Nikkei 225

    28,864.32
    -65.78 (-0.23%)
     

Innovative Industrial Properties (IIPR) Dips More Than Broader Markets: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.

Innovative Industrial Properties (IIPR) closed the most recent trading day at $210.12, moving -0.88% from the previous trading session. This change lagged the S&P 500's 0.04% loss on the day. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 0.25%.

Prior to today's trading, shares of the company had gained 13.6% over the past month. This has outpaced the Finance sector's gain of 2.99% and the S&P 500's gain of 2.37% in that time.

Investors will be hoping for strength from IIPR as it approaches its next earnings release, which is expected to be February 24, 2021. On that day, IIPR is projected to report earnings of $1.51 per share, which would represent year-over-year growth of 27.97%. Our most recent consensus estimate is calling for quarterly revenue of $37.85 million, up 114.2% from the year-ago period.

Investors might also notice recent changes to analyst estimates for IIPR. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 0.25% lower. IIPR is currently sporting a Zacks Rank of #4 (Sell).

Valuation is also important, so investors should note that IIPR has a Forward P/E ratio of 26.61 right now. For comparison, its industry has an average Forward P/E of 16.32, which means IIPR 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 230, which puts it in the bottom 10% 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.

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


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.