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Innovative Industrial Properties, Inc. (IIPR) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

Innovative Industrial Properties, Inc. (IIPR) closed at $80.10 in the latest trading session, marking a -0.83% move from the prior day. This change lagged the S&P 500's daily gain of 3.35%. At the same time, the Dow added 3.19%, and the tech-heavy Nasdaq gained 3.62%.

Coming into today, shares of the company had lost 14.96% in the past month. In that same time, the Finance sector lost 21.57%, while the S&P 500 lost 14.37%.

Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. In that report, analysts expect IIPR to post earnings of $0.99 per share. This would mark year-over-year growth of 83.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.20 million, up 210.85% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.33 per share and revenue of $105.50 million, which would represent changes of +63% and +136.19%, respectively, from the prior year.

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Any recent changes to analyst estimates for IIPR should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 4.31% higher. IIPR currently has a Zacks Rank of #1 (Strong Buy).

In terms of valuation, IIPR is currently trading at a Forward P/E ratio of 15.15. Its industry sports an average Forward P/E of 10.89, so we one might conclude that IIPR is trading at a premium comparatively.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 42% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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