Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: What You Should Know

Innovative Industrial Properties (IIPR) closed at $75.75 in the latest trading session, marking a -0.03% move from the prior day. This move lagged the S&P 500's daily gain of 0.17%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq gained 0.67%.

Heading into today, shares of the company had lost 7.76% over the past month, outpacing the Finance sector's loss of 8.6% and lagging the S&P 500's gain of 0.25% in that time.

Innovative Industrial Properties will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.04, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $70.8 million, up 9.77% from the prior-year quarter.

IIPR's full-year Zacks Consensus Estimates are calling for earnings of $8.36 per share and revenue of $289.9 million. These results would represent year-over-year changes of -1.07% and +4.9%, respectively.

Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.78% higher. Innovative Industrial Properties currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 9.06. This valuation marks a discount compared to its industry's average Forward P/E of 10.62.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on

Just Released: Zacks Top 10 Stocks for 2023

In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?

From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.

See New Top 10 Stocks >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

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

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.