InvenTrust Properties Corp. (NYSE:IVT) to Issue Dividend Increase – $0.24 Per Share

InvenTrust Properties Corp. (NYSE:IVT) declared a quarterly dividend on Friday, March 14th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.2376 per share on Tuesday, April 15th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, March 31st. This is a 5.0% increase from InvenTrust Properties’s previous quarterly dividend of $0.23.

InvenTrust Properties has raised its dividend by an average of 39.3% per year over the last three years. InvenTrust Properties has a dividend payout ratio of 293.5% 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 $1.89 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 48.1%.

InvenTrust Properties Price Performance

InvenTrust Properties stock traded up $0.32 during midday trading on Friday, reaching $28.68. 1,313,936 shares of the company were exchanged, compared to its average volume of 386,030. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 159.32, a P/E/G ratio of 3.34 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 1.99. The firm’s 50-day simple moving average is $29.56 and its 200-day simple moving average is $29.76. InvenTrust Properties has a 1 year low of $23.53 and a 1 year high of $31.65.

InvenTrust Properties (NYSE:IVT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.39. InvenTrust Properties had a net margin of 4.99% and a return on equity of 0.83%. On average, analysts anticipate that InvenTrust Properties will post 1.79 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upgraded InvenTrust Properties from a “hold” rating to a “buy” rating and lifted their price target for the company from $33.00 to $34.00 in a report on Thursday, January 2nd.

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.