Innovative Industrial Properties, Inc. (IIPR - Free Report) closed at $132.19 in the latest trading session, marking a -0.08% move from the prior day. This move lagged the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.75%.
Heading into today, shares of the company had gained 39.87% over the past month, outpacing the Finance sector's gain of 3.37% and the S&P 500's gain of 3.84% 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. IIPR currently has a Zacks Rank of #2 (Buy).
In terms of valuation, IIPR is currently trading at a Forward P/E ratio of 50.11. This valuation marks a premium compared to its industry's average Forward P/E of 15.6.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 41% 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.