Innovative Industrial Properties (IIPR) Exceeds Market Returns: Some Facts to Consider

In the latest trading session, Innovative Industrial Properties (IIPR) closed at $98.98, marking a +1.22% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.74%. Elsewhere, the Dow saw a downswing of 0.01%, while the tech-heavy Nasdaq appreciated by 1.68%.

The the stock of company has risen by 0.11% in the past month, leading the Finance sector's loss of 3.65% and undershooting the S&P 500's gain of 0.8%.

The upcoming earnings release of Innovative Industrial Properties will be of great interest to investors. The company is forecasted to report an EPS of $2.27, showcasing a 0.89% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $79.65 million, indicating a 4.71% increase compared to the same quarter of the previous year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.18 per share and revenue of $321.45 million, indicating changes of +1.1% and +3.86%, respectively, compared to the previous year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has remained steady. Innovative Industrial Properties is currently a Zacks Rank #2 (Buy).

In terms of valuation, Innovative Industrial Properties is presently being traded at a Forward P/E ratio of 10.65. This signifies a discount in comparison to the average Forward P/E of 10.99 for its industry.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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