Innovative Industrial Properties (IIPR) Beats Stock Market Upswing: What Investors Need to Know

Innovative Industrial Properties (IIPR) closed at $57.24 in the latest trading session, marking a +1.58% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.94%. At the same time, the Dow added 0.75%, and the tech-heavy Nasdaq gained 1.52%. Shares of the company have depreciated by 1.07% over the course of the past month, underperforming the Finance sector's loss of 0.56%, and the S&P 500's gain of 1.67%.Analysts and investors alike will be keeping a close eye on the performance of Innovative Industrial Properties in its upcoming earnings disclosure. In that report, analysts expect Innovative Industrial Properties to post earnings of $1.68 per share. This would mark a year-over-year decline of 26.64%. In the meantime, our current consensus estimate forecasts the revenue to be $63.3 million, indicating a 20.67% decline compared to the corresponding quarter of the prior year. For the full year, the Zacks Consensus Estimates are projecting earnings of $6.98 per share and revenue of $260.63 million, which would represent changes of -22.27% and -15.52%, respectively, from the prior year. Investors should also take note of any recent adjustments 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 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. 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, there's been a 1.08% rise in the Zacks Consensus EPS estimate. As of now, Innovative Industrial Properties holds a Zacks Rank of #3 (Hold). From a valuation perspective, Innovative Industrial Properties is currently exchanging hands at a Forward P/E ratio of 8.08. This denotes a discount relative to the industry average Forward P/E of 11.46. The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 93, putting it in the top 38% 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. Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Innovative Industrial Properties, Inc. (IIPR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks