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Innovative Industrial Properties (IIPR) Outpaces Stock Market Gains: What You Should Know

Innovative Industrial Properties (IIPR) closed at $87.41 in the latest trading session, marking a +1.15% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.25%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 7.26%.

Prior to today's trading, shares of the company had lost 15.09% over the past month. This has lagged the Finance sector's gain of 7.22% and the S&P 500's gain of 5.73% in that time.

Investors will be hoping for strength from Innovative Industrial Properties as it approaches its next earnings release. In that report, analysts expect Innovative Industrial Properties to post earnings of $2.03 per share. This would mark year-over-year growth of 9.73%. Meanwhile, our latest consensus estimate is calling for revenue of $70 million, up 18.76% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 remained stagnant. Innovative Industrial Properties is currently a Zacks Rank #3 (Hold).

Digging into valuation, Innovative Industrial Properties currently has a Forward P/E ratio of 9.99. This represents a discount compared to its industry's average Forward P/E of 12.3.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% 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.

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Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report

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