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

This story originally appeared on Zacks

Innovative Industrial Properties (IIPR) closed the most recent trading day at $227.33, moving +1.15% from the previous trading session. This change outpaced the S&P 500’s 0.1% loss on the day. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq lost 0.47%.

– Zacks

Coming into today, shares of the company had lost 14.94% in the past month. In that same time, the Finance sector gained 5.04%, while the S&P 500 gained 3.67%.

Innovative Industrial Properties will be looking to display strength as it nears its next earnings release. On that day, Innovative Industrial Properties is projected to report earnings of $1.84 per share, which would represent 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.

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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.

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 moved 2.16% lower. Innovative Industrial Properties is holding a Zacks Rank of #4 (Sell) right now.

Valuation is also important, so investors should note that Innovative Industrial Properties has a Forward P/E ratio of 25.54 right now. This represents a premium compared to its industry’s average Forward P/E of 15.51.

The REIT and Equity Trust – Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% 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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