Innovative Industrial Properties (IIPR) closed the most recent trading day at $184.94, moving +0.76% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.36%.
Prior to today's trading, shares of the company had lost 5.8% over the past month. This has lagged the Finance sector's gain of 1% and the S&P 500's gain of 5.21% in that time.
IIPR will be looking to display strength as it nears its next earnings release. In that report, analysts expect IIPR to post earnings of $1.42 per share. This would mark year-over-year growth of 26.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $41.3 million, up 95.46% from the year-ago period.
IIPR's full-year Zacks Consensus Estimates are calling for earnings of $7.30 per share and revenue of $185.8 million. These results would represent year-over-year changes of +46% and +58.94%, respectively.
Investors should also note any recent changes to analyst estimates for IIPR. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant. IIPR is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, IIPR is currently trading at a Forward P/E ratio of 25.08. This represents a premium compared to its industry's average Forward P/E of 17.75.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 21% 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.
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