Innovative Industrial Properties (IIPR) Stock Sinks As Market Gains: Here's Why

Innovative Industrial Properties (IIPR) declined 1.44% to $55.62, underperforming the broader market's modest gains. Despite a favorable Forward P/E ratio of 7.61 and positive year-over-year earnings growth expectations of 7.6%, the stock received a Hold rating with a Zacks Rank of #3. Analyst consensus estimates have been revised downward by 1.47% over the past 30 days.