Innovative Industrial Properties (IIPR) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest market close, Innovative Industrial Properties (IIPR) reached $75.03, with a -1.29% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.63%.
The company's stock has dropped by 11.38% in the past month, falling short of the Finance sector's loss of 2.46% and the S&P 500's loss of 2.35%.
The investment community will be closely monitoring the performance of Innovative Industrial Properties in its forthcoming earnings report. The company is forecasted to report an EPS of $2.19, showcasing a 2.82% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $75.6 million, indicating a 6.66% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.88 per share and revenue of $304.15 million, indicating changes of +5.09% and +10.06%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 8.56. This indicates a discount in contrast to its industry's Forward P/E of 10.35.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
