InvenTrust Properties Updates FY 2024 Earnings Guidance

InvenTrust Properties (NYSE: IVT) announced an update on its fiscal year 2024 earnings guidance. This update was released on a Tuesday morning, providing shareholders and market analysts with insight into the company’s projected performance. InvenTrust has set its earnings per share (EPS) guidance at a range of 1.700 to 1.730 for the fiscal year 2024. This range is slightly above the consensus estimate of 1.710 that was anticipated by analysts in the field.

Analysts Adjust Price Targets

Recently, InvenTrust Properties has been the focus of several analyst evaluations. Notably, Wells Fargo & Company revised their target price for the stock, increasing it from $29.00 to $32.00 while maintaining an "overweight" rating. This adjustment was noted in a research report dated August 28th. Meanwhile, Compass Point also increased their price objective from $28.00 to $29.00, assigning a "neutral" rating to the stock on September 10th. Additionally, Bank of America upgraded InvenTrust from a "neutral" rating to a "buy" rating and raised their price target from $30.00 to $33.00, as reflected in their report from October 3rd.

Stock Performance Overview

On the trading day following the earnings guidance update, InvenTrust Properties shares experienced a slight decline of 0.1%, dropping by $0.03 to $29.43. The volume of shares traded reached 502,294, which is higher than the average trading volume of 373,553. Financially, the company has a debt-to-equity ratio of 0.53 and a market capitalization of approximately $2.00 billion. The stock currently holds a price-to-earnings ratio (P/E) of 293.70 and a price-to-earnings-growth (PEG) ratio of 3.52. It also has a one-year low of $23.53 and a one-year high of $30.33.

Dividend Updates

InvenTrust Properties recently declared a quarterly dividend which was paid out on October 15th. Shareholders on record as of September 30th were awarded a dividend of $0.226 per share, equating to an annualized dividend of $0.90 and a yield of 3.07%. The ex-dividend date for this distribution was also September 30th, and the company currently has a dividend payout ratio of 900.00%.

Company Profile

InvenTrust Properties Corp. (referred to as the "Company" or "IVT") is known as a leading retail real estate investment trust (REIT) primarily focused on multi-tenant essential retail properties. The company operates within the Sun Belt region, owning and managing grocery-anchored neighborhood and community shopping centers along with high-quality power centers that often include grocery components.

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Earnings, Stocks, Guidance