InvenTrust Properties (NYSE:IVT) Announces Earnings Results

InvenTrust Properties (NYSE:IVT) announced its earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.44), Zacks reports. InvenTrust Properties had a net margin of 2.52% and a return on equity of 0.42%. The business had revenue of $68.52 million during the quarter. During the same period last year, the firm earned $0.41 earnings per share. InvenTrust Properties updated its FY 2024 guidance to 1.700-1.730 EPS.

InvenTrust Properties Price Performance

Shares of IVT traded up $0.19 during trading hours on Friday, reaching $29.64. The company had a trading volume of 119,482 shares, compared to its average volume of 374,766. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 327.26, a PEG ratio of 3.62 and a beta of 0.98. InvenTrust Properties has a 12-month low of $23.53 and a 12-month high of $30.33. The firm has a 50 day simple moving average of $29.26 and a 200-day simple moving average of $26.85. The company has a current ratio of 3.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.42.

InvenTrust Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.226 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.90 annualized dividend and a dividend yield of 3.05%. InvenTrust Properties’s payout ratio is currently 1,011.22%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IVT. Bank of America raised InvenTrust Properties from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $33.00 in a research report on Thursday, October 3rd. Compass Point boosted their price objective on shares of InvenTrust Properties from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their price target on shares of InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th.

About InvenTrust Properties

InvenTrust Properties Corp. (the “Company,” “IVT,” or “InvenTrust”) is a premier Sun Belt, multi-tenant essential retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood and community centers as well as high-quality power centers that often have a grocery component.