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Innovative Industrial Properties (IIPR) Dips More Than Broader Market: What You Should Know

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The most recent trading session ended with Innovative Industrial Properties (IIPR - Free Report) standing at $99.33, reflecting a -1.54% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.72%. Meanwhile, the Dow experienced a drop of 1%, and the technology-dominated Nasdaq saw a decrease of 0.95%.

The company's shares have seen an increase of 3.38% over the last month, surpassing the Finance sector's gain of 3.08% and the S&P 500's gain of 2.16%.

The upcoming earnings release of Innovative Industrial Properties will be of great interest to investors. On that day, Innovative Industrial Properties is projected to report earnings of $2.27 per share, which would represent year-over-year growth of 0.89%. Simultaneously, our latest consensus estimate expects the revenue to be $79.65 million, showing a 4.71% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.18 per share and revenue of $321.45 million, indicating changes of +1.1% and +3.86%, respectively, compared to the previous year.

Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Innovative Industrial Properties is currently a Zacks Rank #2 (Buy).

From a valuation perspective, Innovative Industrial Properties is currently exchanging hands at a Forward P/E ratio of 10.99. This signifies a discount in comparison to the average Forward P/E of 11.56 for its industry.

The REIT and Equity Trust - Other industry is part of the Finance sector. With its current Zacks Industry Rank of 141, this industry ranks in the bottom 45% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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