Investors focused on the Finance space have likely heard of Innovative Industrial Properties (IIPR - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Innovative Industrial Properties is one of 843 companies in the Finance group. The Finance group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. IIPR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for IIPR's full-year earnings has moved 3.49% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, IIPR has returned 70.54% so far this year. Meanwhile, the Finance sector has returned an average of 18.13% on a year-to-date basis. This shows that Innovative Industrial Properties is outperforming its peers so far this year.
Looking more specifically, IIPR belongs to the REIT and Equity Trust - Other industry, a group that includes 117 individual stocks and currently sits at #91 in the Zacks Industry Rank. On average, this group has gained an average of 25.71% so far this year, meaning that IIPR is performing better in terms of year-to-date returns.
Investors with an interest in Finance stocks should continue to track IIPR. The stock will be looking to continue its solid performance.