Innovative Industrial Properties, Inc. (IIPR - Free Report) closed the most recent trading day at $95.50, moving +0.3% from the previous trading session. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq lost 0.06%.
Prior to today's trading, shares of the company had lost 10.47% over the past month. This has lagged the Finance sector's gain of 5.15% and the S&P 500's gain of 3.23% 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. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. IIPR is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, IIPR is holding a Forward P/E ratio of 36.9. This valuation marks a premium compared to its industry's average Forward P/E of 16.01.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% 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.
To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.