Innovative Industrial Properties, Inc. (IIPR - Free Report) closed at $95.18 in the latest trading session, marking a +0.21% move from the prior day. This move lagged the S&P 500's daily gain of 1.13%. At the same time, the Dow added 1.68%, and the tech-heavy Nasdaq gained 0.43%.
Coming into today, shares of the company had gained 24.43% in the past month. In that same time, the Finance sector lost 0.72%, while the S&P 500 gained 2.1%.
IIPR will be looking to display strength as it nears its next earnings release.
Investors might also notice recent changes to analyst estimates for IIPR. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 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 is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, IIPR is currently trading at a Forward P/E ratio of 19.67. This valuation marks a premium compared to its industry's average Forward P/E of 15.84.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 30% 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.