InvenTrust Properties Corp. (NYSE:IVT) to Issue Quarterly Dividend of $0.24

InvenTrust Properties Corp. (NYSE:IVT) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.2376 per share on Tuesday, April 15th. This represents a $0.95 annualized dividend and a dividend yield of 3.25%. 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 payment by an average of 39.3% per year over the last three years. InvenTrust Properties has a payout ratio of 271.4% meaning 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 $1.89 per share next year, which means the company should continue to be able to cover its $0.95 annual dividend with an expected future payout ratio of 50.3%.

InvenTrust Properties Stock Down 0.2 %

IVT opened at $29.22 on Friday. The company has a market cap of $2.26 billion, a PE ratio of 162.31, a price-to-earnings-growth 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. InvenTrust Properties has a 1 year low of $23.53 and a 1 year high of $31.65. The firm has a 50 day moving average price of $29.53 and a 200 day moving average price of $29.74.

InvenTrust Properties (NYSE:IVT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. InvenTrust Properties had a return on equity of 0.83% and a net margin of 4.99%. Sell-side analysts expect that InvenTrust Properties will post 1.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on IVT. Wells Fargo & Company decreased their price target on InvenTrust Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group raised shares of InvenTrust Properties from a “hold” rating to a “buy” rating and raised their price target for the company from $33.00 to $34.00 in a report on Thursday, January 2nd. Finally, Wolfe Research initiated coverage on shares of InvenTrust Properties in a report on Thursday, March 20th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.00.

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.