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Innovative Industrial Properties, Inc. (IIPR) Gains But Lags Market: What You Should Know

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Innovative Industrial Properties, Inc. (IIPR - Free Report) closed the most recent trading day at $90.42, moving +1.3% from the previous trading session. This change lagged the S&P 500's 1.47% gain on the day. Elsewhere, the Dow gained 2.32%, while the tech-heavy Nasdaq added 1.2%.

Heading into today, shares of the company had gained 4.06% over the past month, outpacing the Finance sector's gain of 0.41% and the S&P 500's gain of 0.74% in that time.

Investors will be hoping for strength from IIPR as it approaches its next earnings release. On that day, IIPR is projected to report earnings of $1.29 per share, which would represent year-over-year growth of 118.64%. Meanwhile, our latest consensus estimate is calling for revenue of $24.60 million, up 185.38% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.19 per share and revenue of $106.10 million, which would represent changes of +58.72% and +137.54%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for IIPR. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.26% lower. IIPR is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that IIPR has a Forward P/E ratio of 17.22 right now. For comparison, its industry has an average Forward P/E of 14.43, which means IIPR is trading at a premium to the group.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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