Innovative Industrial Properties (IIPR) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with Innovative Industrial Properties (IIPR) standing at $95.05, reflecting a +1.95% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 1.25%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 1.3%.
Shares of the company witnessed a loss of 3.86% over the previous month, trailing the performance of the Finance sector with its loss of 2.58% and the S&P 500's gain of 1.58%.
The investment community will be paying close attention to the earnings performance of Innovative Industrial Properties in its upcoming release. The company's earnings per share (EPS) are projected to be $2.27, reflecting a 7.08% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $77.25 million, reflecting a 9.64% rise from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 10.18. This represents a discount compared to its industry's average Forward P/E of 10.75.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 104, finds itself in the top 42% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
