InvenTrust Properties (NYSE:IVT) Posts Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• InvenTrust Properties reported quarterly EPS of $0.02, missing the $0.04 analyst consensus by $0.02, while revenue of $82.83 million slightly exceeded estimates of $82.44 million.
• The stock fell 1.1% to $35.02 following the results. The company maintains a quarterly dividend of $0.25 per share, representing a $1.00 annualized payout and a 2.9% yield.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and a $35.14 price target; institutional investors own 61.7% of the company.

InvenTrust Properties (NYSE:IVT - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02), FiscalAI reports. InvenTrust Properties had a return on equity of 6.10% and a net margin of 35.66%.The company had revenue of $82.83 million during the quarter, compared to analyst estimates of $82.44 million.

InvenTrust Properties Stock Down 1.1%

NYSE:IVT traded down $0.39 during trading hours on Monday, reaching $35.02. The company had a trading volume of 848,758 shares, compared to its average volume of 682,174. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.54. The business's 50-day simple moving average is $34.94 and its two-hundred day simple moving average is $32.35. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 2.90 and a beta of 0.78. InvenTrust Properties has a twelve month low of $26.81 and a twelve month high of $37.22.

InvenTrust Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 2.9%. InvenTrust Properties's dividend payout ratio is currently 70.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in 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 buying an additional 1,001 shares in the last quarter. Amundi raised its holdings in shares of InvenTrust Properties by 9.8% in the 1st quarter. Amundi now owns 45,205 shares of the company's stock worth $1,268,000 after acquiring an additional 4,018 shares during the last quarter. AQR Capital Management LLC lifted its position in InvenTrust Properties by 29.3% in the 1st quarter. AQR Capital Management LLC now owns 10,282 shares of the company's stock valued at $302,000 after acquiring an additional 2,331 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $1,355,000 after acquiring an additional 2,014 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in InvenTrust Properties by 66.0% during the 1st 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 during the last quarter. Institutional investors own 61.70% of the company's stock.

Analysts Set New Price Targets

IVT has been the topic of a number of analyst reports. Weiss Ratings lowered shares of InvenTrust Properties from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday. Wall Street Zen lowered shares of InvenTrust Properties from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Bank of America boosted their target price on shares of InvenTrust Properties from $37.00 to $38.00 and gave the company a "buy" rating in a report on Monday, June 29th. Wells Fargo & Company set a $39.00 price target on InvenTrust Properties and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Finally, BTIG Research reissued a "buy" rating and issued a $37.00 price objective on shares of InvenTrust Properties in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $35.14.

InvenTrust Properties Company Profile

InvenTrust Properties Corp is a self‐managed real estate investment trust specializing in suburban and urban retail real estate. Headquartered in Downers Grove, Illinois, the company focuses on the acquisition, leasing and management of open‐air shopping centers that serve everyday consumer needs.

The company’s portfolio is concentrated in neighborhood and community retail assets anchored by grocery stores, pharmacies and national service tenants. InvenTrust engages in active leasing strategies, property management services and selective development and redevelopment initiatives designed to enhance long‐term cash flow and tenant mix.

InvenTrust Properties was created in 2019 through the spin‐off of its predecessor, Inland Real Estate Investment Corp, and adopted its current name upon separation.

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