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Innovative Industrial Properties (IIPR) Gains As Market Dips: What You Should Know

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In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $205.40, marking a +0.21% move from the previous day. This move outpaced the S&P 500's daily loss of 1.57%. Elsewhere, the Dow lost 1.56%, while the tech-heavy Nasdaq lost 0.09%.

Heading into today, shares of the company had gained 7.73% over the past month, outpacing the Finance sector's gain of 3.25% and the S&P 500's gain of 5.37% in that time.

Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. The company is expected to report EPS of $2.01, up 36.73% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $62.75 million, up 46.3% from the year-ago period.

IIPR's full-year Zacks Consensus Estimates are calling for earnings of $8.71 per share and revenue of $268.45 million. These results would represent year-over-year changes of +30.78% and +31.24%, respectively.

Investors might also notice recent changes to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Innovative Industrial Properties is currently a Zacks Rank #4 (Sell).

Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 23.53. For comparison, its industry has an average Forward P/E of 15.8, which means Innovative Industrial Properties is trading at a premium to the group.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 40% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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