Innovative Industrial Properties, Inc. (IIPR - Free Report) closed the most recent trading day at $78.21, moving +0.51% from the previous trading session. This change lagged the S&P 500's 1% gain on the day.
Heading into today, shares of the company had lost 14.56% over the past month, lagging the Finance sector's loss of 1.6% and the S&P 500's loss of 1.22% in that time.
IIPR will be looking to display strength as it nears its next earnings release.
It is also important to note the recent changes to analyst estimates for IIPR. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. IIPR is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, IIPR is holding a Forward P/E ratio of 30.16. This valuation marks a premium compared to its industry's average Forward P/E of 15.99.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 32% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.