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

Innovative Industrial Properties (IIPR) closed at $261.10 in the latest trading session, marking a -0.44% move from the prior day. This change lagged the S&P 500's 0.3% loss on the day. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.2%.

Heading into today, shares of the company had gained 4.79% over the past month, outpacing the Finance sector's gain of 2.2% and the S&P 500's gain of 3.11% in that time.

Innovative Industrial Properties will be looking to display strength as it nears its next earnings release. In that report, analysts expect Innovative Industrial Properties to post earnings of $1.84 per share. This would mark year-over-year growth of 42.64%. Our most recent consensus estimate is calling for quarterly revenue of $58.25 million, up 57.05% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.67 per share and revenue of $204.1 million. These totals would mark changes of +33.4% and +74.6%, respectively, from last year.

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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.62% lower. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).

Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 39.32. Its industry sports an average Forward P/E of 18.72, so we one might conclude that Innovative Industrial Properties is trading at a premium comparatively.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 41% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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