InvenTrust Properties Corp. (NYSE:IVT) Announces Dividend Increase – $0.23 Per Share

InvenTrust Properties Corp. (NYSE:IVT) declared a quarterly dividend on Wednesday, December 18th,Wall Street Journal reports. Shareholders of record on Monday, December 30th will be given a dividend of 0.2263 per share on Wednesday, January 15th. This represents a $0.91 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, December 30th. This is an increase from InvenTrust Properties’s previous quarterly dividend of $0.23.

InvenTrust Properties has increased its dividend by an average of 65.6% annually over the last three years. InvenTrust Properties has a dividend payout ratio of 303.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect InvenTrust Properties to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.91 annual dividend with an expected future payout ratio of 50.0%.

InvenTrust Properties Trading Down 0.5 %

Shares of InvenTrust Properties stock traded down $0.15 during trading on Thursday, reaching $29.56. The company’s stock had a trading volume of 498,812 shares, compared to its average volume of 376,316. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.42. InvenTrust Properties has a 52-week low of $23.53 and a 52-week high of $31.65. The firm’s 50-day moving average is $30.29 and its two-hundred day moving average is $28.26. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 328.48, a PEG ratio of 3.56 and a beta of 0.97.

InvenTrust Properties (NYSE:IVT) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.44). 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 for the quarter. During the same period last year, the firm posted $0.41 EPS. On average, sell-side analysts anticipate that InvenTrust Properties will post 1.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on InvenTrust Properties in a research report on Tuesday, November 19th. They set a “hold” rating and a $33.00 price target on the stock. Compass Point raised their target price on shares of InvenTrust Properties from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Bank of America upgraded shares of InvenTrust Properties from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $33.00 in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their price target on shares of InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a report 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.