Innovative Industrial Properties (IIPR) Surpasses Market Returns: Some Facts Worth Knowing
Innovative Industrial Properties (IIPR) closed the latest trading day at $126.92, indicating a +1.09% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.75%. Elsewhere, the Dow saw an upswing of 0.58%, while the tech-heavy Nasdaq appreciated by 1%.
The company's stock has climbed by 7.73% in the past month, exceeding the Finance sector's gain of 4.06% and the S&P 500's gain of 4.03%.
The upcoming earnings release of Innovative Industrial Properties will be of great interest to investors. The company's upcoming EPS is projected at $2.29, signifying steadiness compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $76.95 million, down 1.13% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.09 per share and revenue of $309.95 million. These totals would mark changes of +0.11% and +0.14%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Innovative Industrial Properties is holding a Zacks Rank of #4 (Sell) right now.
Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 13.81. This indicates a premium in contrast to its industry's Forward P/E of 12.72.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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