Innovative Industrial Properties, Inc. (IIPR) closed at $98.25 in the latest trading session, marking a -0.47% move from the prior day. This change lagged the S&P 500's 0.36% loss on the day. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, added 0.15%.
IIPR will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.29, up 118.64% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $24.60 million, up 185.38% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.31 per share and revenue of $106.10 million, which would represent changes of +62.39% and +137.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for IIPR. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.66% lower. IIPR is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note IIPR's current valuation metrics, including its Forward P/E ratio of 18.61. This valuation marks a premium compared to its industry's average Forward P/E of 16.18.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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