Innovative Industrial Properties (IIPR) Stock Declines While Market Improves: Some Information for Investors
Innovative Industrial Properties (IIPR) closed the most recent trading day at $89.96, moving -0.8% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.82%. Elsewhere, the Dow gained 0.41%, while the tech-heavy Nasdaq added 0.95%.
Prior to today's trading, shares of the company had lost 3.44% over the past month. This has lagged the Finance sector's gain of 1.02% and the S&P 500's gain of 5.59% in that time.
Investors will be eagerly watching for the performance of Innovative Industrial Properties in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.27, reflecting a 7.08% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $77.25 million, showing a 9.64% escalation compared to the year-ago quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Innovative Industrial Properties. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Innovative Industrial Properties presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Innovative Industrial Properties is presently trading at a Forward P/E ratio of 9.9. This valuation marks a discount compared to its industry's average Forward P/E of 10.55.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 112, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
