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Innovative Industrial Properties (IIPR) closed at $209.88 in the latest trading session, marking a -0.4% move from the prior day. This change lagged the S&P 500’s daily gain of 0.08%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.42%.
Heading into today, shares of the company had lost 11.7% over the past month, lagging the Finance sector’s gain of 5.73% and the S&P 500’s gain of 0.22% in that time.
Innovative Industrial Properties will be looking to display strength as it nears its next earnings release. In that report, analysts expect Innovative Industrial Properties to post earnings of $1.84 per share. This would mark year-over-year growth of 42.64%. Our most recent consensus estimate is calling for quarterly revenue of $58.25 million, up 57.05% from the year-ago period.
Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.16% lower. Innovative Industrial Properties is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 23.95. For comparison, its industry has an average Forward P/E of 15.58, which means Innovative Industrial Properties is trading at a premium to the group.
The REIT and Equity Trust – Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Zacks.com.
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