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

Zacks Equity Research
·3-min read

Innovative Industrial Properties, Inc. (IIPR) closed at $73.04 in the latest trading session, marking a +1.98% move from the prior day. This move outpaced the S&P 500's daily loss of 0.05%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq lost 0.01%.

Prior to today's trading, shares of the company had lost 3.43% over the past month. This has lagged the Finance sector's gain of 13.55% and the S&P 500's gain of 21.82% in that time.

Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. On that day, IIPR is projected to report earnings of $0.99 per share, which would represent year-over-year growth of 83.33%. Our most recent consensus estimate is calling for quarterly revenue 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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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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 4.92% higher. IIPR currently has a Zacks Rank of #1 (Strong Buy).

Digging into valuation, IIPR currently has a Forward P/E ratio of 13.44. For comparison, its industry has an average Forward P/E of 11.85, which means IIPR is trading at a premium to the group.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Zacks Investment Research