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IVT

InvenTrust Properties NYSE:IVT Stock Report

Last Price

US$22.74

Market Cap

US$1.5b

7D

-6.3%

1Y

15.1%

Updated

28 Sep, 2022

Data

Company Financials +
IVT fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance3/6
Financial Health2/6
Dividends3/6

IVT Stock Overview

InvenTrust Properties Corp. is a premier multi-tenant retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood centers, and select power centers that often have a grocery component, predominantly in Sun Belt markets with favorable demographics.

InvenTrust Properties Competitors

Price History & Performance

Summary of all time highs, changes and price drops for InvenTrust Properties
Historical stock prices
Current Share PriceUS$22.74
52 Week HighUS$32.93
52 Week LowUS$1.10
Beta-6.29
1 Month Change-13.99%
3 Month Change-11.83%
1 Year Change15.14%
3 Year Changen/a
5 Year Changen/a
Change since IPO-62.10%

Recent News & Updates

Sep 15

InvenTrust Properties declares $0.2052 dividend

InvenTrust Properties (NYSE:IVT) declares $0.2052/share quarterly dividend, in line with previous. Forward yield 3.24% Payable Oct. 14; for shareholders of record Sept. 30; ex-div Sept. 29. See IVT Dividend Scorecard, Yield Chart, & Dividend Growth.

Aug 01

InvenTrust Properties Q2 FFO up Y/Y

InvenTrust Properties press release (NYSE:IVT): Q2 FFO of $0.42 (vs. $0.33 in prior-year quarter) Net income was $41.9M, compared to $1.5M for the same period in 2021.

Shareholder Returns

IVTUS REITsUS Market
7D-6.3%-4.5%-2.0%
1Y15.1%-19.2%-20.3%

Return vs Industry: IVT exceeded the US REITs industry which returned -20.4% over the past year.

Return vs Market: IVT exceeded the US Market which returned -22.1% over the past year.

Price Volatility

Is IVT's price volatile compared to industry and market?
IVT volatility
IVT Average Weekly Movement4.5%
REITs Industry Average Movement3.9%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: IVT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: IVT's weekly volatility has decreased from 159% to 4% over the past year.

About the Company

FoundedEmployeesCEOWebsite
2004115DJ Buschhttps://www.inventrustproperties.com

InvenTrust Properties Corp. is a premier multi-tenant retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood centers, and select power centers that often have a grocery component, predominantly in Sun Belt markets with favorable demographics. We seek to continue to execute our strategy to enhance our multi-tenant retail platform by further investing in grocery-anchored centers with essential retail in our current markets, while exhibiting focused and disciplined capital allocation.

InvenTrust Properties Fundamentals Summary

How do InvenTrust Properties's earnings and revenue compare to its market cap?
IVT fundamental statistics
Market CapUS$1.53b
Earnings (TTM)US$44.53m
Revenue (TTM)US$243.09m

34.4x

P/E Ratio

6.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IVT income statement (TTM)
RevenueUS$243.09m
Cost of RevenueUS$66.15m
Gross ProfitUS$176.94m
Other ExpensesUS$132.41m
EarningsUS$44.53m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.66
Gross Margin72.79%
Net Profit Margin18.32%
Debt/Equity Ratio43.4%

How did IVT perform over the long term?

See historical performance and comparison

Dividends

3.6%

Current Dividend Yield

56%

Payout Ratio

Does IVT pay a reliable dividends?

See IVT dividend history and benchmarks
When do you need to buy IVT by to receive an upcoming dividend?
InvenTrust Properties dividend dates
Ex Dividend DateSep 29 2022
Dividend Pay DateOct 14 2022
Days until Ex dividend0 days
Days until Dividend pay date15 days

Does IVT pay a reliable dividends?

See IVT dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is IVT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IVT?

Other financial metrics that can be useful for relative valuation.

IVT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue8.8x
Enterprise Value/EBITDA15.8x
PEG Ratio-0.3x

Price to Earnings Ratio vs Peers

How does IVT's PE Ratio compare to its peers?

IVT PE Ratio vs Peers
The above table shows the PE ratio for IVT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average29.2x
UE Urban Edge Properties
17.7x1.5%US$1.7b
SKT Tanger Factory Outlet Centers
35.5x8.1%US$1.6b
AKR Acadia Realty Trust
40.9x-40.4%US$1.3b
BFS Saul Centers
22.5x-1.6%US$1.2b
IVT InvenTrust Properties
34.4x-105.4%US$1.5b

Price-To-Earnings vs Peers: IVT is expensive based on its Price-To-Earnings Ratio (34.4x) compared to the peer average (29.2x).


Price to Earnings Ratio vs Industry

How does IVT's PE Ratio compare vs other companies in the US REITs Industry?

Price-To-Earnings vs Industry: IVT is expensive based on its Price-To-Earnings Ratio (34.4x) compared to the US REITs industry average (26x)


Price to Earnings Ratio vs Fair Ratio

What is IVT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IVT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio34.4x
Fair PE Ratio0.01x

Price-To-Earnings vs Fair Ratio: IVT is expensive based on its Price-To-Earnings Ratio (34.4x) compared to the estimated Fair Price-To-Earnings Ratio (0x).


Share Price vs Fair Value

What is the Fair Price of IVT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IVT ($22.74) is trading below our estimate of fair value ($36.59)

Significantly Below Fair Value: IVT is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is InvenTrust Properties forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-105.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IVT's earnings are forecast to decline over the next 3 years (-105.4% per year).

Earnings vs Market: IVT's earnings are forecast to decline over the next 3 years (-105.4% per year).

High Growth Earnings: IVT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if IVT's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if IVT's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if IVT's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has InvenTrust Properties performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-40.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IVT has a large one-off gain of $29.7M impacting its June 30 2022 financial results.

Growing Profit Margin: IVT's current net profit margins (18.3%) are higher than last year (2.1%).


Past Earnings Growth Analysis

Earnings Trend: IVT's earnings have declined by 40.1% per year over the past 5 years.

Accelerating Growth: IVT's earnings growth over the past year (930.2%) exceeds its 5-year average (-40.1% per year).

Earnings vs Industry: IVT earnings growth over the past year (930.2%) exceeded the REITs industry 45.8%.


Return on Equity

High ROE: IVT's Return on Equity (2.8%) is considered low.


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Financial Health

How is InvenTrust Properties's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: IVT's short term assets ($124.1M) exceed its short term liabilities ($49.9M).

Long Term Liabilities: IVT's short term assets ($124.1M) do not cover its long term liabilities ($758.3M).


Debt to Equity History and Analysis

Debt Level: IVT's net debt to equity ratio (37.5%) is considered satisfactory.

Reducing Debt: IVT's debt to equity ratio has increased from 40.2% to 43.4% over the past 5 years.

Debt Coverage: IVT's debt is not well covered by operating cash flow (14.2%).

Interest Coverage: IVT's interest payments on its debt are not well covered by EBIT (2.8x coverage).


Balance Sheet


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Dividend

What is InvenTrust Properties's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.61%

Current Dividend Yield

Dividend Yield vs Market

InvenTrust Properties Dividend Yield vs Market
How does InvenTrust Properties dividend yield compare to the market?
SegmentDividend Yield
Company (InvenTrust Properties)3.6%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (REITs)4.0%
Analyst forecast in 3 Years (InvenTrust Properties)3.6%

Notable Dividend: IVT's dividend (3.61%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: IVT's dividend (3.61%) is low compared to the top 25% of dividend payers in the US market (4.69%).


Stability and Growth of Payments

Stable Dividend: IVT has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: IVT has only been paying a dividend for 8 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (56.4%), IVT's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (68.6%), IVT's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

DJ Busch (40 yo)

1.08yrs

Tenure

US$3,724,528

Compensation

Mr. Daniel Joseph Busch, also known as DJ, serves as the Chief Executive Officer at InvenTrust Properties Corp. since August 06, 2021 and its President of InvenTrust Properties Corp. since February 22, 202...


CEO Compensation Analysis

DJ Busch's Compensation vs InvenTrust Properties Earnings
How has DJ Busch's remuneration changed compared to InvenTrust Properties's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$45m

Mar 31 2022n/an/a

US$4m

Dec 31 2021US$4mUS$624k

-US$5m

Sep 30 2021n/an/a

US$7m

Jun 30 2021n/an/a

US$4m

Mar 31 2021n/an/a

-US$7m

Dec 31 2020US$1mUS$431k

-US$10m

Sep 30 2020n/an/a

US$17m

Jun 30 2020n/an/a

US$40m

Mar 31 2020n/an/a

US$56m

Dec 31 2019US$1mUS$114k

US$64m

Compensation vs Market: DJ's total compensation ($USD3.72M) is below average for companies of similar size in the US market ($USD5.58M).

Compensation vs Earnings: DJ's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: IVT's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

Experienced Board: IVT's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of IVT?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders387,3180.6%
General Public32,379,51348.0%
Institutions34,660,74051.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 43.37% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
14.15%
The Vanguard Group, Inc.
9,542,205$217.0m71.59%0.01%
8.69%
BlackRock, Inc.
5,858,025$133.2m153.36%no data
4.27%
Principal Global Investors, LLC
2,876,772$65.4m-43.7%0.05%
3.8%
State Street Global Advisors, Inc.
2,560,213$58.2m79.6%no data
1.99%
Geode Capital Management, LLC
1,338,755$30.4m130.95%no data
1.16%
Charles Schwab Investment Management, Inc.
781,976$17.8m20.12%no data
1.15%
Northern Trust Global Investments
776,100$17.6m167.45%no data
1.09%
Third Avenue Management LLC
733,701$16.7m-13.05%1.58%
0.82%
First Sentier Investors (Australia) IM Ltd
552,010$12.6m-36.36%0.03%
0.73%
Chilton Capital Management LLC
492,268$11.2m5.94%0.73%
0.56%
Balyasny Asset Management L.P.
375,325$8.5m-7.48%0.04%
0.51%
Legal & General Investment Management Limited
346,771$7.9m13.08%no data
0.51%
Wilcoxson Wealth Management
343,683$7.8m-1.65%0.02%
0.43%
Susquehanna International Group, LLP, Asset Management Arm
288,328$6.6m-26.79%0.02%
0.43%
UBS Asset Management
286,811$6.5m10.51%no data
0.4%
Pacific Investment Management Company LLC
269,375$6.1m15.95%0.03%
0.38%
BNY Mellon Asset Management
257,208$5.8m513.22%no data
0.36%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
241,953$5.5m0%no data
0.35%
Weiss Multi-Strategy Advisers LLC
238,228$5.4m20.12%0.17%
0.34%
Millennium Management LLC
227,851$5.2m-85.46%0.01%
0.3%
Thomas McGuinness
200,176$4.6m10.42%no data
0.25%
AE Wealth Management, LLC
171,104$3.9m79483.26%0.03%
0.25%
First Trust Advisors LP
166,056$3.8m1116.53%no data
0.24%
Cambridge Investment Research Advisors, Inc.
161,277$3.7m-0.14%0.02%
0.24%
Swiss National Bank, Asset Management Arm
158,600$3.6m0%no data

Company Information

InvenTrust Properties Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: InvenTrust Properties Corp.
  • Ticker: IVT
  • Exchange: NYSE
  • Founded: 2004
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.533b
  • Shares outstanding: 67.43m
  • Website: https://www.inventrustproperties.com

Number of Employees


Location

  • InvenTrust Properties Corp.
  • 3025 Highland Parkway
  • Suite 350
  • Downers Grove
  • Illinois
  • 60515
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IVTNYSE (New York Stock Exchange)YesCommon StockUSUSDFeb 2014

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.