In the latest trading session, Innovative Industrial Properties (IIPR) closed at $57.09, marking a +1.28% move from the previous day. This change outpaced the S&P 500's 0.85% gain on the day. On the other hand, the Dow registered a gain of 1.36%, and the technology-centric Nasdaq increased by 0.72%.
Shares of the company witnessed a gain of 3.13% over the previous month, beating the performance of the Finance sector with its gain of 2.7%, and the S&P 500's gain of 2.38%.
The investment community will be closely monitoring the performance of Innovative Industrial Properties in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.7, marking a 24.44% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $63.83 million, down 16.6% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.03 per share and a revenue of $262.45 million, indicating changes of -21.71% and -14.93%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Innovative Industrial Properties. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.02% higher. Innovative Industrial Properties is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Innovative Industrial Properties is at present trading with a Forward P/E ratio of 8.02. This valuation marks a discount compared to its industry average Forward P/E of 11.7.
The REIT and Equity Trust – Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 39% 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.
