Investors focused on the Finance space have likely heard of Innovative Industrial Properties (IIPR), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.

Innovative Industrial Properties is a member of the Finance sector. This group includes 839 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. IIPR is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for IIPR's full-year earnings has moved 3.49% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, IIPR has gained about 61.78% so far this year. Meanwhile, the Finance sector has returned an average of 20.19% on a year-to-date basis. This shows that Innovative Industrial Properties is outperforming its peers so far this year.

To break things down more, IIPR belongs to the REIT and Equity Trust - Other industry, a group that includes 117 individual companies and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 22.46% so far this year, so IIPR is performing better in this area.

Going forward, investors interested in Finance stocks should continue to pay close attention to IIPR as it looks to continue its solid performance.

Innovative Industrial Properties, Inc. (IIPR): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Has Innovative Industrial Properties (IIPR) Outpaced Other Finance Stocks This Year? - Nasdaq