InvenTrust Properties (NYSE:IVT) Releases Quarterly Earnings Results, Misses Estimates By $0.42 EPS

InvenTrust Properties (NYSE:IVT) issued its quarterly earnings results on Tuesday. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.42), FiscalAI reports. InvenTrust Properties had a return on equity of 6.65% and a net margin of 40.46%.The business had revenue of $77.38 million for the quarter, compared to analyst estimates of $76.23 million.

InvenTrust Properties Stock Up 1.3%

IVT stock traded up $0.39 during trading hours on Tuesday, reaching $30.63. 509,316 shares of the stock were exchanged, compared to its average volume of 493,321. The firm’s 50-day moving average is $28.86 and its 200-day moving average is $28.56. InvenTrust Properties has a 12 month low of $25.21 and a 12 month high of $31.04. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 3.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.68 and a quick ratio of 1.68.

InvenTrust Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 30th were paid a $0.2377 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $0.95 dividend on an annualized basis and a yield of 3.1%. InvenTrust Properties’s dividend payout ratio is presently 62.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IVT. Comerica Bank lifted its stake in InvenTrust Properties by 80.5% in the 1st quarter. Comerica Bank now owns 2,245 shares of the company’s stock valued at $66,000 after acquiring an additional 1,001 shares in the last quarter. Amundi raised its holdings in shares of InvenTrust Properties by 9.8% in the first quarter. Amundi now owns 45,205 shares of the company’s stock valued at $1,268,000 after purchasing an additional 4,018 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of InvenTrust Properties by 29.3% in the first quarter. AQR Capital Management LLC now owns 10,282 shares of the company’s stock worth $302,000 after purchasing an additional 2,331 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in InvenTrust Properties by 4.6% during the first 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. Finally, Goldman Sachs Group Inc. grew its position 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. 61.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company assumed coverage on InvenTrust Properties in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $33.00 price target on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of InvenTrust Properties in a report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and set a $33.00 target price (up previously from $32.00) on shares of InvenTrust Properties in a report on Monday, December 15th. Wall Street Zen lowered InvenTrust Properties from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of InvenTrust Properties in a research report on Friday, October 17th. They issued a “neutral” rating and a $30.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, InvenTrust Properties has an average rating of “Moderate Buy” and an average price target of $31.60.

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.