Yahoo Finance Innovative Industrial Properties (IIPR) Ascends But Remains Behind Market: Some Facts to Note
Innovative Industrial Properties (IIPR) closed the latest trading day at $109.48, indicating a +1.1% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 1.26%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.99%.
The the stock of company has risen by 7.76% in the past month, leading the Finance sector's loss of 1.92% and the S&P 500's loss of 2.68%.
The investment community will be paying close attention to the earnings performance of Innovative Industrial Properties in its upcoming release. The company is slated to reveal its earnings on May 8, 2024. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.27 per share. This would mark year-over-year growth of 0.89%. 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 entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.18 per share and a revenue of $321.45 million, representing changes of +1.1% and +3.86%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Innovative Industrial Properties. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Innovative Industrial Properties is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Innovative Industrial Properties is at present trading with a Forward P/E ratio of 11.8. This signifies a premium in comparison to the average Forward P/E of 11.54 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 146, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
