Innovative Industrial Properties (IIPR) ended the recent trading session at $133.75, demonstrating a +0.21% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, added 0.78%.

Shares of the company witnessed a loss of 0.84% over the previous month, beating the performance of the Finance sector with its loss of 4.84% and underperforming the S&P 500's gain of 1.67%.

Analysts and investors alike will be keeping a close eye on the performance of Innovative Industrial Properties in its upcoming earnings disclosure. The company's earnings report is set to go public on November 6, 2024. The company's upcoming EPS is projected at $2.29, signifying steadiness compared to the same quarter of the previous year. 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.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.09 per share and revenue of $309.95 million. These totals would mark changes of +0.11% and +0.14%, respectively, from last year.

Investors should also pay attention to any latest changes in analyst estimates for Innovative Industrial Properties. These recent revisions tend to reflect the evolving nature of short-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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Innovative Industrial Properties possesses a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Innovative Industrial Properties has a Forward P/E ratio of 14.68 right now. This indicates a premium in contrast to its industry's Forward P/E of 12.68.

The REIT and Equity Trust - Other industry is part of the Finance sector. With its current Zacks Industry Rank of 58, this industry ranks in the top 24% of all industries, numbering over 250.

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.

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