Innovative Industrial Properties (IIPR) Rises Higher Than Market: Key Facts
Innovative Industrial Properties (IIPR) closed the latest trading day at $89.75, indicating a +1.05% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.96%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 1.3%.
Shares of the company witnessed a loss of 5.25% over the previous month, trailing the performance of the Finance sector with its gain of 1.09% and the S&P 500's gain of 3.69%.
The investment community will be paying close attention to the earnings performance of Innovative Industrial Properties in its upcoming release. The company is slated to reveal its earnings on February 26, 2024. The company is expected to report EPS of $2.27, up 7.08% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $77.25 million, indicating a 9.64% increase compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 9.7. This valuation marks a discount compared to its industry's average Forward P/E of 10.74.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 42% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
