Innovative Industrial Properties, Inc. (IIPR) closed at $69.01 in the latest trading session, marking a -1.6% move from the prior day. This change lagged the S&P 500's daily gain of 3.41%. Meanwhile, the Dow gained 3.44%, and the Nasdaq, a tech-heavy index, added 2.58%.
Prior to today's trading, shares of the company had lost 18.38% over the past month. This has lagged the Finance sector's loss of 17.99% and the S&P 500's loss of 10.46% in that time.
IIPR will be looking to display strength as it nears its next earnings release. On that day, IIPR is projected to report earnings of $0.99 per share, which would represent year-over-year growth of 83.33%. Meanwhile, our latest consensus estimate is calling for revenue of $21.20 million, up 210.85% from the prior-year quarter.
IIPR's full-year Zacks Consensus Estimates are calling for earnings of $5.33 per share and revenue of $105.50 million. These results would represent year-over-year changes of +63% and +136.19%, respectively.
It is also important to note the recent changes to analyst estimates for IIPR. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. The Zacks Consensus EPS estimate has moved 4.31% higher within the past month. IIPR currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note IIPR's current valuation metrics, including its Forward P/E ratio of 13.16. Its industry sports an average Forward P/E of 11.41, 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 group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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