Innovative Industrial Properties (IIPR) Gains As Market Dips: What You Should Know
Innovative Industrial Properties (IIPR) closed the most recent trading day at $94.22, moving +0.62% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.07% for the day. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.36%.
The the stock of company has fallen by 8.94% in the past month, lagging the Finance sector's loss of 1.77% and the S&P 500's gain of 3.05%.
The investment community will be paying close attention to the earnings performance of Innovative Industrial Properties in its upcoming release. The company is forecasted to report an EPS of $2.27, showcasing a 7.08% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $77.25 million, up 9.64% from the prior-year quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Innovative Industrial Properties. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 remained stagnant. Innovative Industrial Properties is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 10.22. This represents a discount compared to its industry's average Forward P/E of 11.39.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 150, finds itself in the bottom 41% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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
