InvenTrust Properties Corp. (NYSE:IVT) Plans Dividend Increase - $0.24 Per Share

InvenTrust Properties Corp. (NYSE:IVT - Get Free Report) announced a quarterly dividend on Friday, June 20th, RTT News reports. Investors 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 yield of 3.42%. 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. 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 Price Performance

InvenTrust Properties stock traded down $0.21 during midday trading on Friday, hitting $27.81. The company's stock had a trading volume of 574,183 shares, compared to its average volume of 426,222. InvenTrust Properties has a 12 month low of $24.13 and a 12 month high of $31.65. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.16 billion, a PE ratio of 120.93, a price-to-earnings-growth ratio of 3.16 and a beta of 0.90. The stock's 50-day moving average price is $27.84 and its 200-day moving average price is $28.91.

Analyst Ratings Changes

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

Institutional Trading of InvenTrust Properties

A number of hedge funds have recently modified their holdings of IVT. Intech Investment Management LLC boosted its position in InvenTrust Properties by 43.5% during the 1st quarter. Intech Investment Management LLC now owns 48,631 shares of the company's stock worth $1,428,000 after acquiring an additional 14,745 shares during the period. Jane Street Group LLC acquired a new stake in shares of InvenTrust Properties during the 1st quarter valued at $1,022,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of InvenTrust Properties by 443.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 586,825 shares of the company's stock worth $17,235,000 after acquiring an additional 478,887 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in InvenTrust Properties by 66.0% in the first quarter. Goldman Sachs Group Inc. now owns 695,263 shares of the company's stock valued at $20,420,000 after purchasing an additional 276,474 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in InvenTrust Properties by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,121 shares of the company's stock worth $1,355,000 after purchasing an additional 2,014 shares during the last quarter. Hedge funds and other institutional investors own 61.70% of the company's stock.

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.

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