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Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: What You Should Know

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Zacks Equity Research
·2 min read
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Innovative Industrial Properties (IIPR) closed at $208.38 in the latest trading session, marking a -0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.09%. At the same time, the Dow added 1.08%, and the tech-heavy Nasdaq gained 1.23%.

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 $1.51, up 27.97% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $37.85 million, up 114.2% from the year-ago period.

Investors should also note any recent changes to analyst estimates for IIPR. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 has moved 0.25% lower. IIPR is holding a Zacks Rank of #4 (Sell) right now.

Digging into valuation, IIPR currently has a Forward P/E ratio of 25.83. Its industry sports an average Forward P/E of 15.97, 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 235, putting it in the bottom 8% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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