Innovative Industrial Properties (IIPR) closed the most recent trading day at $86.76, moving -0.86% from the previous trading session. This change lagged the S&P 500’s daily loss of 0.28%. Meanwhile, the Dow gained 0.39%, and the Nasdaq, a tech-heavy index, lost 6.73%.

Heading into today, shares of the company had lost 4.97% over the past month, lagging the Finance sector’s gain of 1.14% and the S&P 500’s gain of 2.48% in that time.

Wall Street will be looking for positivity from Innovative Industrial Properties as it approaches its next earnings report date. This is expected to be February 27, 2023. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $68.6 million, up 16.39% from the year-ago period.

Any recent changes to analyst estimates for Innovative Industrial Properties should also be noted by investors. These revisions help to show the ever-changing nature of near-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. 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.

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 a Zacks Rank #4 (Sell).

Valuation is also important, so investors should note that Innovative Industrial Properties has a Forward P/E ratio of 10.54 right now. This represents a discount compared to its industry’s average Forward P/E of 12.1.

The REIT and Equity Trust – Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 25% 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.

To follow IIPR in the coming trading sessions, be sure to utilize Zacks.com.

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