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

On Tuesday morning, InvenTrust Properties (NYSE:IVT) provided an update regarding its earnings guidance for the fiscal year 2024. The company anticipates earnings per share (EPS) in the range of 1.700 to 1.730 for the upcoming period. This outlook is slightly different from the consensus estimate, which was set at 1.710.

Analysts Adjust Price Targets

InvenTrust Properties has recently been featured in several analyst reports. For instance, Wells Fargo & Company raised their target price for the stock from $29.00 to $32.00, rating it as "overweight" in a report released on August 28. Additionally, Compass Point increased their price target from $28.00 to $29.00, assigning a "neutral" rating. Furthermore, Bank of America upgraded InvenTrust Properties from a "neutral" rating to a "buy" rating and adjusted their target price from $30.00 to $33.00 on October 3.

Stock Performance Overview

During mid-day trading on Tuesday, shares of InvenTrust Properties traded down by 0.1%, reaching $29.43. The trading volume for the day totaled 502,294 shares, surpassing the average volume of 373,553 shares. The company holds a debt-to-equity ratio of 0.53, a current ratio of 1.24, and a quick ratio also of 1.24. With a market capitalization of $2.00 billion, the stock boasts 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 experienced a low of $23.53 and a high of $30.33.

Dividend Information

InvenTrust Properties recently announced that a quarterly dividend was paid on October 15. Shareholders who were on record as of September 30 received a dividend of $0.226 per share, which translates to an annualized dividend of $0.90, yielding a 3.07% return. The ex-dividend date for this payment was September 30. The company currently has a high dividend payout ratio of 900.00%.

Company Overview

InvenTrust Properties Corp. (IVT) is recognized as a leading multi-tenant essential retail Real Estate Investment Trust (REIT) located in the Sun Belt region. The company specializes in owning, leasing, redeveloping, acquiring, and managing grocery-anchored neighborhood and community centers, along with high-quality power centers that typically include a grocery component.

Conclusion

Keep an eye on InvenTrust Properties as the company continues to update its financial outlook and prepare for the coming year. Investors should watch how the market reacts to its adjusted EPS guidance and any further developments regarding its stock ratings and price targets.

earnings, guidance, stocks