In the latest trading session, Innovative Industrial Properties, Inc. (IIPR) closed at $61.92, marking a +1.01% move from the previous day. This move outpaced the S&P 500's daily gain of 0.86%. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, added 1.37%.
Heading into today, shares of the company had gained 33.52% over the past month, outpacing the Finance sector's gain of 9.7% and the S&P 500's gain of 8.11% in that time.
Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date. This is expected to be March 27, 2019.
Investors might also notice recent changes to analyst estimates for IIPR. These revisions help to show the ever-changing nature of near-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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. IIPR currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, IIPR is holding a Forward P/E ratio of 23.13. For comparison, its industry has an average Forward P/E of 14.66, 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 150, which puts it in the bottom 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.
Innovative Industrial Properties, Inc. (IIPR): Free Stock Analysis Report
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