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Innovative Industrial Properties (IIPR) Dips More Than Broader Markets: What You Should Know

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Innovative Industrial Properties (IIPR) closed at $95.29 in the latest trading session, marking a -1.49% move from the prior day. This change lagged the S&P 500's daily loss of 0.93%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.17%.

Coming into today, shares of the company had lost 14.93% in the past month. In that same time, the Finance sector gained 3.57%, while the S&P 500 gained 6.31%.

Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. The company is expected to report EPS of $2.02, up 23.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $68.5 million, up 40.17% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.05 per share and revenue of $279.35 million. These totals would mark changes of +20.87% and +36.57%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Innovative Industrial Properties is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 12.02. This valuation marks a discount compared to its industry's average Forward P/E of 12.97.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 85, putting it in the top 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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