In the latest trading session, Innovative Industrial Properties, Inc. (IIPR) closed at $91.07, marking a -0.28% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.31%. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the company had lost 10.95% over the past month, lagging the Finance sector's gain of 4.26% and the S&P 500's gain of 2.92% in that time.
Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date.
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. 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.
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, the Zacks Consensus EPS estimate has moved 1.98% higher. IIPR is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note IIPR's current valuation metrics, including its Forward P/E ratio of 35.4. 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 101, putting it in the top 40% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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