Innovative Industrial Properties, Inc. (IIPR - Free Report) closed the most recent trading day at $81.96, moving -1.76% from the previous trading session. This change lagged the S&P 500's 0.61% loss on the day. Meanwhile, the Dow lost 0.72%, and the Nasdaq, a tech-heavy index, lost 0.56%.
Heading into today, shares of the company had gained 13.82% over the past month, outpacing the Finance sector's gain of 3.2% and the S&P 500's gain of 5.68% in that time.
Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date.
Investors should also note any recent changes to analyst estimates for IIPR. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 3.72% lower within the past month. IIPR is currently a Zacks Rank #3 (Hold).
Investors should also note IIPR's current valuation metrics, including its Forward P/E ratio of 32.21. This valuation marks a premium compared to its industry's average Forward P/E of 15.31.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.