Innovative Industrial Properties, Inc. (IIPR) closed at $65.40 in the latest trading session, marking a -0.85% move from the prior day. This move lagged the S&P 500's daily gain of 0.3%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq gained 0.08%.
Coming into today, shares of the company had gained 24.17% in the past month. In that same time, the Finance sector gained 5.58%, while the S&P 500 gained 5.93%.
Investors will be hoping for strength from IIPR as it approaches its next earnings release.
Any recent changes to analyst estimates for IIPR should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. IIPR is currently a Zacks Rank #3 (Hold).
Investors should also note IIPR's current valuation metrics, including its Forward P/E ratio of 24.89. This represents a premium compared to its industry's average Forward P/E of 14.99.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 139, putting it in the bottom 46% 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.
Innovative Industrial Properties, Inc. (IIPR): Free Stock Analysis Report
Original post