In the latest trading session, Innovative Industrial Properties, Inc. (IIPR) closed at $75.55, marking a -0.59% move from the previous day. This move lagged the S&P 500's daily gain of 0.97%. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 1.13%.
Heading into today, shares of the company had lost 15.48% over the past month, lagging the Finance sector's gain of 2.18% and the S&P 500's gain of 2.16% in that time.
Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. This is expected to be November 6, 2019.
It is also important to note the 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.
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, 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 3.49% higher. IIPR is currently a Zacks Rank #1 (Strong Buy).
Investors should also note IIPR's current valuation metrics, including its Forward P/E ratio of 28.46. This valuation marks a premium compared to its industry's average Forward P/E of 16.39.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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