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Innovative Industrial Properties (IIPR) Stock Moves -0.51%: What You Should Know

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In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $100.70, marking a -0.51% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 0.01%.

Heading into today, shares of the company had gained 13.26% over the past month, outpacing the Finance sector's gain of 3.51% and the S&P 500's gain of 4.58% in that time.

Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. This is expected to be November 2, 2022. The company is expected to report EPS of $2.14, up 25.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $69.75 million, up 29.5% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $8.06 per share and revenue of $275.65 million, which would represent changes of +21.02% and +34.76%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Innovative Industrial Properties is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 12.57. This valuation marks a premium compared to its industry's average Forward P/E of 11.91.

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 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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