InvenTrust Properties Corp. (NYSE:IVT) to Issue $0.23 Quarterly Dividend

InvenTrust Properties Corp. (NYSE:IVT) announced a quarterly dividend on Monday, September 16th, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.226 per share on Tuesday, October 15th. This represents a $0.90 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Monday, September 30th.

InvenTrust Properties has increased its dividend by an average of 65.6% per year over the last three years. InvenTrust Properties has a dividend payout ratio of 758.3% meaning 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 Price Performance

NYSE IVT traded up $0.04 during mid-day trading on Wednesday, hitting $29.90. The stock had a trading volume of 17,513 shares, compared to its average volume of 324,001. The company has a 50 day simple moving average of $27.96 and a 200 day simple moving average of $25.90. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 300.30, a P/E/G ratio of 4.68 and a beta of 0.99. InvenTrust Properties has a 52-week low of $22.61 and a 52-week high of $30.20. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.53.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Compass Point lifted their target price on shares of InvenTrust Properties from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th.

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.