Innovative Industrial Properties, Inc. (IIPR - Free Report) closed the most recent trading day at $76.96, moving +0.08% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.22%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.6%.
Prior to today's trading, shares of the company had gained 2.11% over the past month. This has outpaced the Finance sector's loss of 0.06% and lagged the S&P 500's gain of 2.39% in that time.
Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date.
It is also important to note the recent changes to analyst estimates for IIPR. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 3.72% lower. IIPR is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that IIPR has a Forward P/E ratio of 29.69 right now. This represents a premium compared to its industry's average Forward P/E of 15.44.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% 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.
To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.