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

Zacks Equity Research

Innovative Industrial Properties, Inc. (IIPR) closed at $64.92 in the latest trading session, marking a -0.67% move from the prior day. This change lagged the S&P 500's daily gain of 0.18%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.03%.

Heading into today, shares of the company had gained 16.78% over the past month, outpacing the Finance sector's gain of 2.83% and the S&P 500's gain of 4.28% 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 1.51% higher within the past month. IIPR is currently a Zacks Rank #2 (Buy).

Digging into valuation, IIPR currently has a Forward P/E ratio of 24.3. This valuation marks a premium compared to its industry's average Forward P/E of 15.16.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% 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.

To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.


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