Innovative Industrial Properties (IIPR) Stock Falls Amid Market Uptick: What Investors Need to Know
The most recent trading session ended with Innovative Industrial Properties (IIPR) standing at $91.72, reflecting a -0.1% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.88% gain on the day. Meanwhile, the Dow experienced a rise of 0.54%, and the technology-dominated Nasdaq saw an increase of 1.35%.
The company's stock has dropped by 6.56% in the past month, falling short of the Finance sector's loss of 4% and the S&P 500's gain of 0.64%.
The upcoming earnings release of Innovative Industrial Properties will be of great interest to investors. It is anticipated that the company will report an EPS of $2.27, marking a 7.08% rise compared to the same quarter of the previous 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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Innovative Industrial Properties. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Innovative Industrial Properties holds a Zacks Rank of #3 (Hold).
Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 10.02. This expresses a discount compared to the average Forward P/E of 11 of its industry.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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
