Why Innovative Industrial Properties (IIPR) Dipped More Than Broader Market Today

Innovative Industrial Properties (IIPR) closed at $93.62 in the latest trading session, marking a -0.92% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.58%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 1.15%.

The company's shares have seen a decrease of 3.19% over the last month, surpassing the Finance sector's loss of 6.34% and falling behind the S&P 500's loss of 1.09%.

Investors will be eagerly watching for the performance of Innovative Industrial Properties in its upcoming earnings disclosure. 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.

For the full year, the Zacks Consensus Estimates project earnings of $9.18 per share and a revenue of $321.45 million, demonstrating changes of +1.1% and +3.86%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Innovative Industrial Properties. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. At present, Innovative Industrial Properties boasts a Zacks Rank of #2 (Buy).

Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 10.29. This signifies a discount in comparison to the average Forward P/E of 10.74 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 79, positioning it in the top 32% 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.

To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.

Free Report – The Bitcoin Profit Phenomenon

Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.

No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.

Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.

Download Now – Today It’s FREE >>

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 Zacks.com 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 the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.