InvenTrust Properties Corp. (NYSE:IVT) Increases Dividend to $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 paid 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 payment by an average of 65.6% annually 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. 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 Stock Down 0.5 %

Shares of NYSE:IVT opened at $29.56 on Friday. 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 has a fifty-two week low of $23.53 and a fifty-two week high of $31.65. The firm’s 50-day simple moving average is $30.31 and its 200-day simple moving average is $28.27. 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 (NYSE:IVT) last issued its earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.44). InvenTrust Properties had a return on equity of 0.42% and a net margin of 2.52%. The business had revenue of $68.52 million for the quarter. During the same period last year, the business posted $0.41 earnings per share. As a group, equities research analysts predict that InvenTrust Properties will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.