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

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In the latest trading session, Innovative Industrial Properties (IIPR - Free Report) closed at $71.22, marking a -0.01% move from the previous day. This change lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 5.66%.

Coming into today, shares of the company had lost 1.25% in the past month. In that same time, the Finance sector gained 3.31%, while the S&P 500 gained 3.44%.

Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.11 per share. This would mark a year-over-year decline of 1.4%. Meanwhile, our latest consensus estimate is calling for revenue of $72.1 million, up 2.25% from the prior-year quarter.

IIPR's full-year Zacks Consensus Estimates are calling for earnings of $8.66 per share and revenue of $293.85 million. These results would represent year-over-year changes of +2.49% and +6.33%, respectively.

It is also important to note the recent changes to analyst estimates for Innovative Industrial Properties. These revisions help to show the ever-changing nature of 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.97% higher. Innovative Industrial Properties is holding a Zacks Rank of #2 (Buy) right now.

Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 8.23. For comparison, its industry has an average Forward P/E of 12.12, which means Innovative Industrial Properties is trading at a discount to the group.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% 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.

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

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