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

In the latest trading session, Innovative Industrial Properties (IIPR) closed at $93.13, marking a -1.55% move from the previous day. This change lagged the S&P 500's daily loss of 1.04%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 5.88%.

Heading into today, shares of the company had lost 1.94% over the past month, lagging the Finance sector's gain of 8.76% and the S&P 500's gain of 8.97% in that time.

Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. On that day, Innovative Industrial Properties is projected to report earnings of $1.95 per share, which would represent year-over-year growth of 5.41%. Meanwhile, our latest consensus estimate is calling for revenue of $68.6 million, up 16.39% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

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 has moved 4.35% lower. Innovative Industrial Properties is currently sporting a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, Innovative Industrial Properties is holding a Forward P/E ratio of 11.4. For comparison, its industry has an average Forward P/E of 12.91, which means Innovative Industrial Properties is trading at a discount to the group.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 16% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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