InvenTrust Properties Corp. (IVT) To Go Ex-Dividend on December 30th

InvenTrust Properties Corp. (NYSE:IVT) declared a quarterly dividend on Wednesday, December 18th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from InvenTrust Properties’s previous quarterly dividend of $0.23.

InvenTrust Properties has increased its dividend by an average of 65.6% annually over the last three years. InvenTrust Properties has a dividend 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. Equities 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 Trading Down 1.1 %

Shares of NYSE IVT opened at $29.68 on Friday. 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 has a 12 month low of $23.53 and a 12 month high of $31.65. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 329.81, a P/E/G ratio of 3.56 and a beta of 0.97. The business has a fifty day simple moving average of $30.36 and a 200-day simple moving average of $28.48.

InvenTrust Properties (NYSE:IVT) last released its earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.44). The firm had revenue of $68.52 million during 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 prior year, the business posted $0.41 earnings per share. Sell-side analysts predict that InvenTrust Properties will post 1.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Compass Point increased their target price on InvenTrust Properties from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Bank of America raised InvenTrust Properties from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $33.00 in a research report on Thursday, October 3rd. Finally, Jefferies Financial Group initiated coverage on InvenTrust Properties in a research note on Tuesday, November 19th. They set a “hold” rating and a $33.00 target price on the stock.

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.