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

by · The Cerbat Gem

InvenTrust Properties (NYSE:IVT – Get Free Report) released 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. InvenTrust Properties had a net margin of 2.52% and a return on equity of 0.42%. The company had revenue of $68.52 million during the quarter. During the same period last year, the business earned $0.41 EPS. InvenTrust Properties updated its FY 2024 guidance to 1.700-1.730 EPS.

InvenTrust Properties Stock Performance

Shares of InvenTrust Properties stock traded up $0.16 during midday trading on Friday, hitting $29.61. The company had a trading volume of 195,169 shares, compared to its average volume of 375,123. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.59 and a quick ratio of 1.24. InvenTrust Properties has a 1-year low of $23.53 and a 1-year high of $30.33. The business’s 50 day simple moving average is $29.26 and its two-hundred day simple moving average is $26.85. The stock has a market cap of $2.28 billion, a PE ratio of 327.26, a P/E/G ratio of 3.62 and a beta of 0.98.

InvenTrust Properties Dividend Announcement

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

Wall Street Analyst Weigh In

IVT has been the subject of several recent analyst reports. Compass Point raised their target price on InvenTrust Properties from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Wells Fargo & Company lifted their target price on shares of 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 upgraded shares of 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 research note on Thursday, October 3rd.

Check Out Our Latest Analysis on IVT

About InvenTrust Properties

(Get Free Report)

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.

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