Innovative Industrial Properties, Inc. (IIPR) closed the most recent trading day at $89.92, moving -0.94% from the previous trading session. This change lagged the S&P 500's 0.8% gain on the day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 1.12%.
Heading into today, shares of the company had gained 6.6% over the past month, outpacing the Finance sector's gain of 0.51% and the S&P 500's loss of 1.07% in that time.
Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for IIPR. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. IIPR is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that IIPR has a Forward P/E ratio of 35.18 right now. This represents a premium compared to its industry's average Forward P/E of 15.69.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% 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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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report
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