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Innovative Industrial Properties (IIPR) Outpaces Stock Market Gains: What You Should Know

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Zacks Equity Research
·2 min read
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Innovative Industrial Properties (IIPR) closed the most recent trading day at $187.12, moving +0.91% from the previous trading session. This change outpaced the S&P 500's 0.23% gain on the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.43%.

Coming into today, shares of the company had gained 4.83% in the past month. In that same time, the Finance sector gained 6.51%, while the S&P 500 gained 3.86%.

Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. On that day, IIPR is projected to report earnings of $1.56 per share, which would represent year-over-year growth of 32.2%. Our most recent consensus estimate is calling for quarterly revenue of $37.85 million, up 114.2% from the year-ago period.

Any recent changes to analyst estimates for IIPR should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. 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 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. IIPR is currently a Zacks Rank #3 (Hold).

Investors should also note IIPR's current valuation metrics, including its Forward P/E ratio of 22.88. This valuation marks a premium compared to its industry's average Forward P/E of 15.4.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 12% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

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


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