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

On Tuesday morning, InvenTrust Properties (NYSE:IVT) updated its earnings guidance for fiscal year 2024. The company has provided an earnings per share (EPS) estimate of between 1.700 and 1.730 for the fiscal year. This range is slightly above the consensus estimate of 1.710.

In addition to the EPS update, InvenTrust did not disclose specific revenue guidance for the period. Investors are now closely monitoring these developments as they evaluate the company's financial performance prospects.

Analysts Increase Price Targets

The stock has been subject to several updates from market analysts. Notably, Wells Fargo & Company raised their price target for InvenTrust Properties from $29.00 to $32.00, maintaining an "overweight" rating on the stock as of August 28th. Similarly, Compass Point increased their price objective from $28.00 to $29.00 on September 10th, assigning a "neutral" rating. Lastly, Bank of America upgraded InvenTrust Properties from a "neutral" rating to a "buy" rating, lifting their price target from $30.00 to $33.00 as noted on October 3rd.

Stock Performance Update

During mid-day trading on Tuesday, shares of InvenTrust Properties were down by 0.1%, decreasing by $0.03 to a price of $29.43. The stock displayed a trading volume of 502,294 shares, surpassing the average volume of 373,553 shares. Currently, InvenTrust has a market capitalization of $2.00 billion and exhibits a price-to-earnings ratio of 293.70, alongside a price-to-earnings-growth ratio of 3.52. Over the past year, the stock reached a low of $23.53 and a high of $30.33.

Recent Dividend Announcement

Recently, InvenTrust Properties declared a quarterly dividend amounting to $0.226 per share, which was distributed on October 15th. This dividend corresponds to an annualized total of $0.90, reflecting a dividend yield of 3.07%. The ex-dividend date for this payout was September 30th. It is worth noting that the company's dividend payout ratio is an exceptionally high 900.00%.

About InvenTrust Properties

InvenTrust Properties Corp. specializes in the ownership, leasing, redevelopment, acquisition, and management of grocery-anchored neighborhood and community centers, in addition to high-quality power centers, primarily located in the Sun Belt region of the United States.

Earnings, Guidance, Stock, Dividend, Investment