In the latest close session, Innovative Industrial Properties (IIPR) was up +1.84% at $49.31. The stock's change was more than the S&P 500's daily loss of 0.51%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw a decrease of 1.51%.
Shares of the company have depreciated by 0.41% over the course of the past month, underperforming the Finance sector's gain of 0.86%, and the S&P 500's gain of 0.93%.
Investors will be eagerly watching for the performance of Innovative Industrial Properties in its upcoming earnings disclosure. In that report, analysts expect Innovative Industrial Properties to post earnings of $1.81 per share. This would mark a year-over-year decline of 18.47%. Meanwhile, our latest consensus estimate is calling for revenue of $66.45 million, down 13.41% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.14 per share and revenue of $265.75 million, which would represent changes of -20.49% and 0%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Innovative Industrial Properties. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).
In terms of valuation, Innovative Industrial Properties is presently being traded at a Forward P/E ratio of 6.6. Its industry sports an average Forward P/E of 11.43, so one might conclude that Innovative Industrial Properties is trading at a discount comparatively.
The REIT and Equity Trust - Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 177, positioning it in the bottom 28% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Innovative Industrial Properties, Inc. (IIPR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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