Innovative Industrial Properties (IIPR) closed at $189.77 in the latest trading session, marking a +0.01% move from the prior day. This change outpaced the S&P 500's 0.04% loss on the day.
Prior to today's trading, shares of the company had gained 12.12% over the past month. This has outpaced the Finance sector's gain of 1% and the S&P 500's gain of 1.35% in that time.
Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. In that report, analysts expect IIPR to post earnings of $1.63 per share. This would mark year-over-year growth of 36.97%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $45.65 million, up 87.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.76 per share and revenue of $189.65 million. These totals would mark changes of +35.2% and +62.24%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for IIPR. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection remained stagnant. IIPR is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, IIPR is currently trading at a Forward P/E ratio of 28.07. This represents a premium compared to its industry's average Forward P/E of 19.37.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 19% 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.
To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
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