Innovative Industrial Properties, Inc. (IIPR) closed the most recent trading day at $80.77, moving +1.66% from the previous trading session. This change outpaced the S&P 500's 0.9% loss on the day. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.93%.
Prior to today's trading, shares of the company had gained 1.4% over the past month. This has outpaced the Finance sector's gain of 1.33% and lagged the S&P 500's gain of 3.3% in that time.
Investors will be hoping for strength from IIPR as it approaches its next earnings release.
Any recent changes to analyst estimates for IIPR should also be noted by investors. 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. Within the past 30 days, our consensus EPS projection remained stagnant. 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 16.45. This represents a premium compared to its industry's average Forward P/E of 15.79.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 33% 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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