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In the latest trading session, Innovative Industrial Properties (IIPR) closed at $189.30, marking a +1.1% move from the previous day. This change outpaced the S&P 500's 0.43% loss on the day. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, lost 0.62%.
Coming into today, shares of the company had lost 4.18% in the past month. In that same time, the Finance sector lost 7.51%, while the S&P 500 lost 6.57%.
Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.01 per share. This would mark year-over-year growth of 36.73%. Meanwhile, our latest consensus estimate is calling for revenue of $62.75 million, up 46.3% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.71 per share and revenue of $268.45 million. These totals would mark changes of +30.78% and +31.24%, respectively, from last year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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. The Zacks Consensus EPS estimate has moved 3.84% lower within the past month. Innovative Industrial Properties is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 21.5. Its industry sports an average Forward P/E of 15.11, 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 group has a Zacks Industry Rank of 110, putting it in the top 44% 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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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
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