InvenTrust Properties Corp. (NYSE:IVT) to Issue Quarterly Dividend of $0.24

InvenTrust Properties Corp. (NYSE:IVT - Get Free Report) declared a quarterly dividend on Friday, June 20th, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.2377 per share on Tuesday, July 15th. This represents a $0.95 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Monday, June 30th. This is a 0.0% increase from InvenTrust Properties's previous quarterly dividend of $0.24.

InvenTrust Properties has a dividend payout ratio of 296.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect InvenTrust Properties to earn $1.89 per share next year, which means the company should continue to be able to cover its $0.95 annual dividend with an expected future payout ratio of 50.3%.

InvenTrust Properties Stock Up 0.9%

NYSE IVT traded up $0.25 during mid-day trading on Monday, reaching $28.10. The stock had a trading volume of 415,004 shares, compared to its average volume of 426,466. The company has a fifty day moving average price of $27.89 and a 200 day moving average price of $28.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.43 and a quick ratio of 2.43. The stock has a market cap of $2.18 billion, a PE ratio of 122.18, a price-to-earnings-growth ratio of 3.14 and a beta of 0.90. InvenTrust Properties has a 1 year low of $24.20 and a 1 year high of $31.65.

Institutional Investors Weigh In On InvenTrust Properties

Several large investors have recently modified their holdings of IVT. Comerica Bank lifted its stake in shares of InvenTrust Properties by 80.5% in the first quarter. Comerica Bank now owns 2,245 shares of the company's stock valued at $66,000 after purchasing an additional 1,001 shares during the period. AQR Capital Management LLC lifted its position in InvenTrust Properties by 29.3% during the first quarter. AQR Capital Management LLC now owns 10,282 shares of the company's stock valued at $302,000 after buying an additional 2,331 shares in the last quarter. Jane Street Group LLC purchased a new position in InvenTrust Properties in the 1st quarter worth approximately $1,022,000. Amundi grew its stake in shares of InvenTrust Properties by 9.8% during the first quarter. Amundi now owns 45,205 shares of the company's stock valued at $1,268,000 after acquiring an additional 4,018 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of InvenTrust Properties by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,121 shares of the company's stock worth $1,355,000 after buying an additional 2,014 shares during the last quarter. 61.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on IVT. Wells Fargo & Company lowered their target price on shares of InvenTrust Properties from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. BTIG Research initiated coverage on shares of InvenTrust Properties in a report on Monday, April 28th. They issued a "buy" rating and a $31.00 price target on the stock. Finally, Wolfe Research started coverage on InvenTrust Properties in a research report on Thursday, March 20th. They set a "peer perform" rating on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.80.

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.