Innovative Industrial Properties (IIPR) closed at $46.91 in the latest trading session, marking a -2.25% move from the prior day. This change lagged the S&P 500's 0.01% loss on the day. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw a decrease of 0.16%.
Shares of the company witnessed a loss of 3.81% over the previous month, trailing the performance of the Finance sector with its gain of 0.43%, and the S&P 500's loss of 0.28%.
The upcoming earnings release of Innovative Industrial Properties will be of great interest to investors. The company is forecasted to report an EPS of $1.81, showcasing a 18.47% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $66.45 million, indicating a 13.41% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.14 per share and revenue of $265.75 million. These totals would mark changes of -20.49% and -13.86%, respectively, from last year.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).
In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 6.54. This valuation marks a discount compared to its industry average Forward P/E of 12.21.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 174, finds itself in the bottom 29% echelons 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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