Innovative Industrial Properties (IIPR) closed at $134.91 in the latest trading session, marking a -0.57% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, lost 0.36%.

Heading into today, shares of the company had gained 12.23% over the past month, outpacing the Finance sector's gain of 2.92% and the S&P 500's gain of 2.06% in that time.

Market participants will be closely following the financial results of Innovative Industrial Properties in its upcoming release. The company is expected to report EPS of $2.29, unchanged from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $76.95 million, indicating a 1.13% decline compared to the corresponding quarter of the prior year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.09 per share and revenue of $309.95 million, indicating changes of +0.11% and +0.14%, respectively, compared to the previous year.

Investors should also take note of any recent adjustments to analyst estimates for Innovative Industrial Properties. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. At present, Innovative Industrial Properties boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Innovative Industrial Properties is currently trading at a Forward P/E ratio of 14.93. This indicates a premium in contrast to its industry's Forward P/E of 13.09.

The REIT and Equity Trust - Other industry is part of the Finance sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 36% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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