InvenTrust Properties (NYSE: IVT) Updates FY 2024 Earnings Guidance

InvenTrust Properties (NYSE: IVT) announced an update to its earnings guidance for the fiscal year 2024. On Tuesday morning, the company provided an earnings per share (EPS) estimate ranging from 1.700 to 1.730. This adjustment comes in slightly above the consensus estimate of 1.710, indicating a positive outlook for the company's financial performance.

Additionally, while specific revenue guidance was not disclosed, the market seems to respond positively to the updated EPS outlook.

Analysts Adjust Price Targets

InvenTrust Properties has been the subject of recent analyst reports, which have adjusted their price targets for the stock. Notably, Wells Fargo & Company increased their target price from $29.00 to $32.00, assigning an "overweight" rating to the stock. Similarly, Compass Point raised their price objective from $28.00 to $29.00 with a "neutral" rating. Furthermore, Bank of America upgraded the stock from a "neutral" rating to a "buy" and set a new target price of $33.00, up from $30.00.

Stock Performance Update

During mid-day trading, InvenTrust Properties shares experienced a slight decline of 0.1%, trading at $29.43. The trading volume reached 502,294 shares compared to the average of 373,553 shares. The company maintains a debt-to-equity ratio of 0.53, alongside a current ratio of 1.24 and a quick ratio of 1.24. InvenTrust has a market capitalization of $2.00 billion, with a price-to-earnings ratio of 293.70 and a price-to-earnings-growth ratio of 3.52. Over the past year, the stock has fluctuated between a low of $23.53 and a high of $30.33.

Dividend Announcement

InvenTrust Properties also recently declared a quarterly dividend, which was paid on October 15th. Shareholders of record as of September 30th received a dividend of $0.226 per share, equivalent to an annualized payout of $0.90, resulting in a dividend yield of 3.07%. The ex-dividend date for this payment was September 30th. Presently, InvenTrust's dividend payout ratio stands at a high 900.00%.

Company Overview

InvenTrust Properties Corp. is a leading real estate investment trust (REIT) that specializes in multi-tenant essential retail properties located in the Sun Belt region. The company focuses on owning, leasing, redeveloping, acquiring, and managing neighborhood and community centers anchored by grocery stores, along with high-quality power centers that often have grocery components.

InvenTrust, Earnings, Guidance