InvenTrust Properties (NYSE:IVT) Issues Quarterly Earnings Results

InvenTrust Properties (NYSE:IVT) posted its earnings results on Tuesday. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.22, FiscalAI reports. The company had revenue of $87.12 million during the quarter, compared to the consensus estimate of $84.18 million.

InvenTrust Properties Price Performance

NYSE IVT opened at $30.32 on Wednesday. The company has a 50 day simple moving average of $31.11 and a 200-day simple moving average of $32.05. InvenTrust Properties has a 52-week low of $26.81 and a 52-week high of $37.22.

InvenTrust Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, September 30th.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IVT. Weiss Ratings downgraded InvenTrust Properties from a “buy (b)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Wells Fargo & Company set a $34.00 target price on InvenTrust Properties and gave the company an “overweight” rating in a research note on Friday. Wall Street Zen lowered InvenTrust Properties from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. BTIG Research reaffirmed a “buy” rating and set a $37.00 target price on shares of InvenTrust Properties in a report on Friday, August 28th. Finally, Truist Financial set a $32.00 price target on shares of InvenTrust Properties and gave the stock a “hold” rating in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.57.

About InvenTrust Properties

InvenTrust Properties Corp. (NYSE: IVT) is a self-managed real estate investment trust that owns, leases and manages open-air, grocery-anchored shopping centers. Its properties are generally focused on necessity-based retail, including grocery stores, restaurants, health and wellness providers, and other service-oriented businesses.

The company’s portfolio is concentrated in high-growth markets across the Sun Belt region of the United States, including communities in the Southeast, Southwest and Texas.