InvenTrust Properties Corp. (IVT) to Issue Quarterly Dividend of $0.24 on April 15th

InvenTrust Properties Corp. (NYSE:IVT) declared a quarterly dividend on Thursday, March 13th, 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 annualized dividend 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 increased its dividend payment 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 Trading Up 1.1 %

InvenTrust Properties stock opened at $28.68 on Friday. The company has a 50 day moving average price of $29.53 and a 200 day moving average price of $29.76. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 1.99. InvenTrust Properties has a 52 week low of $23.53 and a 52 week high of $31.65. The firm 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.

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

Analysts Set New Price Targets

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

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.