Innovative Industrial Properties (IIPR) Rises As Market Takes a Dip: Key Facts
Innovative Industrial Properties (IIPR) closed the most recent trading day at $101.19, moving +0.37% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.57%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
Heading into today, shares of the company had gained 15.53% over the past month, outpacing the Finance sector's gain of 5.35% and the S&P 500's gain of 4% in that time.
Investors will be eagerly watching for the performance of Innovative Industrial Properties in its upcoming earnings disclosure. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.27 per share. This would mark year-over-year growth of 7.08%. Our most recent consensus estimate is calling for quarterly revenue of $77.25 million, up 9.64% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Innovative Industrial Properties boasts a Zacks Rank of #2 (Buy).
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 11.01. This represents a discount compared to its industry's average Forward P/E of 11.2.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 184, finds itself in the bottom 27% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
