InvenTrust Properties Corp. (NYSE:IVT) Increases Dividend to $0.23 Per Share

InvenTrust Properties Corp. (NYSE:IVT) declared a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Shareholders of record on Monday, December 30th will be paid a dividend of 0.2263 per share on Wednesday, January 15th. This represents a $0.91 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend 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% per year over the last three years. InvenTrust Properties has a 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. Equities 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 Price Performance

Shares of NYSE IVT traded down $0.15 during mid-day trading on Thursday, hitting $29.56. 492,787 shares of the stock traded hands, compared to its average volume of 375,478. The firm has a 50 day simple moving average of $30.29 and a two-hundred day simple moving average of $28.26. InvenTrust Properties has a twelve month low of $23.53 and a twelve month high of $31.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.59 and a quick ratio of 3.59. The company has a market cap of $2.28 billion, a PE ratio of 328.48, a price-to-earnings-growth ratio of 3.56 and a beta of 0.97.

InvenTrust Properties (NYSE:IVT) last announced 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). The business had revenue of $68.52 million during the quarter. InvenTrust Properties had a net margin of 2.52% and a return on equity of 0.42%. During the same period in the prior year, the business posted $0.41 EPS. As a group, equities research analysts forecast that InvenTrust Properties will post 1.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group began coverage on InvenTrust Properties in a report on Tuesday, November 19th. They issued a “hold” rating and a $33.00 target price on the stock. Wells Fargo & Company increased their price objective on shares of InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Compass Point boosted their target price on shares of InvenTrust Properties from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, Bank of America upgraded InvenTrust Properties from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $33.00 in a report on Thursday, October 3rd.

InvenTrust Properties Company Profile

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.