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Innovative Industrial Properties, Inc. (IIPR) Gains But Lags Market: What You Should Know

Innovative Industrial Properties, Inc. (IIPR) closed the most recent trading day at $96.20, moving +0.32% from the previous trading session. This change lagged the S&P 500’s 0.43% gain on the day. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, added 0.75%.

Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. The company is expected to report EPS of $1.29, up 118.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $24.60 million, up 185.38% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.31 per share and revenue of $106.10 million. These totals would mark changes of +62.39% and +137.54%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for IIPR. These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. IIPR is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, IIPR is holding a Forward P/E ratio of 18.08. Its industry sports an average Forward P/E of 15, so we one might conclude that IIPR is trading at a premium comparatively.

The REIT and Equity Trust – Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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