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Innovative Industrial Properties, Inc. (IIPR) - free report >>
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Innovative Industrial Properties, Inc. (IIPR) - free report >>
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Innovative Industrial Properties, Inc. (IIPR) Gains As Market Dips: What You Should Know
Innovative Industrial Properties, Inc. (IIPR - Free Report) closed the most recent trading day at $84.23, moving +0.37% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the company had lost 5.73% in the past month. In that same time, the Finance sector gained 5.18%, while the S&P 500 gained 4.87%.
IIPR will be looking to display strength as it nears its next earnings release.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 #3 (Hold).
Valuation is also important, so investors should note that IIPR has a Forward P/E ratio of 32.4 right now. Its industry sports an average Forward P/E of 15.17, 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 158, putting it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.