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Innovative Industrial Properties (IIPR) Dips More Than Broader Markets: What You Should Know

Innovative Industrial Properties (IIPR) closed at $89.37 in the latest trading session, marking a -0.41% move from the prior day. This move lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq added 0.03%.

Prior to today's trading, shares of the company had lost 5.75% over the past month. This has was narrower than the Finance sector's loss of 9.32% and the S&P 500's loss of 9.7% in that time.

Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. The company is expected to report EPS of $2.14, up 25.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $69.75 million, up 29.5% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.06 per share and revenue of $275.65 million. These totals would mark changes of +21.02% and +34.76%, respectively, from last year.

Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Innovative Industrial Properties is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Innovative Industrial Properties's current valuation metrics, including its Forward P/E ratio of 11.14. This represents a discount compared to its industry's average Forward P/E of 11.41.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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