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Innovative Industrial Properties, Inc. (IIPR) - free report >>
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Innovative Industrial Properties, Inc. (IIPR) - free report >>
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Innovative Industrial Properties, Inc. (IIPR) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Innovative Industrial Properties, Inc. (IIPR - Free Report) closed at $80.38, marking a -1.66% move from the previous day. This move lagged the S&P 500's daily loss of 0.23%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the company had lost 9.05% over the past month, lagging the Finance sector's gain of 1.71% and the S&P 500's gain of 3.16% in that time.
Wall Street will be looking for positivity from IIPR as it approaches its next earnings report date.
Any recent changes to analyst estimates for IIPR should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.72% lower. IIPR currently has a Zacks Rank of #3 (Hold).
Investors should also note IIPR's current valuation metrics, including its Forward P/E ratio of 31.56. This valuation marks a premium compared to its industry's average Forward P/E of 15.15.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.