Innovative Industrial Properties (IIPR) closed at $52.19 in the latest trading session, marking a -1.97% move from the prior day. This change lagged the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw a downswing of 0.39%, while the tech-heavy Nasdaq appreciated by 0.15%.
The stock of company has fallen by 6.09% in the past month, lagging the Finance sector's gain of 2.08% and the S&P 500's gain of 3.39%.
Investors will be eagerly watching for the performance of Innovative Industrial Properties in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.57, signifying a 31.44% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $63.3 million, indicating a 20.67% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.69 per share and revenue of $260.63 million. These totals would mark changes of -25.5% and -15.52%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Innovative Industrial Properties. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Innovative Industrial Properties boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Innovative Industrial Properties is presently trading at a Forward P/E ratio of 7.96. This signifies a discount in comparison to the average Forward P/E of 11.54 for its industry.
The REIT and Equity Trust – Other industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
