InvenTrust Properties (NYSE:IVT) Adjusts FY 2024 Earnings Forecast

InvenTrust Properties (NYSE:IVT) announced an update to its earnings guidance for the fiscal year 2024 on Tuesday. The company has provided a range for its expected earnings per share (EPS) at 1.700 to 1.730, slightly above the consensus estimate, which is set at 1.710.

Analysts Adjust Their Price Targets

InvenTrust has caught the attention of several analysts recently. In a report released on August 28th, Wells Fargo & Company raised their price target for the company from $29.00 to $32.00, maintaining an "overweight" rating on the stock. On September 10th, Compass Point also revised their target, increasing it from $28.00 to $29.00, while giving the stock a "neutral" rating. Furthermore, on October 3rd, Bank of America upgraded InvenTrust Properties from a "neutral" rating to a "buy" rating and raised their price target from $30.00 to $33.00.

Stock Performance Overview

During mid-day trading on Tuesday, shares of NYSE IVT experienced a minor decline of 0.1%, down $0.03 to reach a price of $29.43. The trading volume for the day was 502,294 shares, a notable increase compared to the average trading volume of 373,553 shares. Financial metrics for InvenTrust include a debt-to-equity ratio of 0.53, a current ratio of 1.24, and a quick ratio of 1.24. The market capitalization of the company stands at approximately $2.00 billion. The stock’s price-to-earnings ratio is 293.70, with a price-to-earnings-growth ratio of 3.52, and its beta is recorded at 0.98. Over the past year, the stock has ranged from a low of $23.53 to a high of $30.33.

Recent Dividend Announcement

InvenTrust Properties also declared a quarterly dividend, which was paid out on October 15th. Shareholders on record as of September 30th received a dividend of $0.226 per share. This equates to an annual dividend of approximately $0.90 per share, resulting in a dividend yield of around 3.07%. The ex-dividend date for this dividend was set for September 30th. Currently, the company’s dividend payout ratio stands at 900.00%.

Company Overview

InvenTrust Properties Corp. is recognized as a leading real estate investment trust (REIT) focusing on multi-tenant essential retail properties in the Sun Belt region. The company specializes in owning, leasing, redeveloping, acquiring, and managing grocery-anchored neighborhood and community centers, as well as high-quality power centers that typically include a grocery component.

Final Thoughts

As analysts continue to adjust their expectations and price targets for InvenTrust Properties, investors are encouraged to closely monitor the company's performance and guidance updates. The outlook for FY 2024 indicates potential growth, making it an essential stock to watch in the upcoming months.

InvenTrust, Earnings, Guidance