InvenTrust Properties (NYSE:IVT) Announces Quarterly Earnings Results, Misses Expectations By $0.44 EPS

InvenTrust Properties (NYSE:IVT) announced its quarterly earnings results on Tuesday. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.44), Zacks reports. The business had revenue of $68.52 million for the quarter. InvenTrust Properties had a return on equity of 0.42% and a net margin of 2.52%. During the same quarter in the previous year, the business posted $0.41 earnings per share. InvenTrust Properties updated its FY 2024 guidance to 1.700-1.730 EPS.

InvenTrust Properties Stock Performance

NYSE IVT traded up $0.19 on Friday, reaching $29.64. The stock had a trading volume of 148,224 shares, compared to its average volume of 374,902. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.59 and a quick ratio of 1.24. The company has a market cap of $2.29 billion, a P/E ratio of 327.26, a price-to-earnings-growth ratio of 3.62 and a beta of 0.98. The firm has a fifty day moving average of $29.26 and a two-hundred day moving average of $26.85. InvenTrust Properties has a 1-year low of $23.53 and a 1-year high of $30.33.

InvenTrust Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.226 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.90 annualized dividend and a yield of 3.05%. InvenTrust Properties’s dividend payout ratio (DPR) is presently 1,011.22%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IVT. Wells Fargo & Company boosted their target price on InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Bank of America upgraded shares of InvenTrust Properties from a “neutral” rating to a “buy” rating and upped their price objective for the company from $30.00 to $33.00 in a report on Thursday, October 3rd. Finally, 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 research note on Tuesday, September 10th.

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.