Vestcor Inc Acquires New Position in InvenTrust Properties Corp. (NYSE:IVT)

Vestcor Inc bought a new position in InvenTrust Properties Corp. (NYSE:IVT) during the third quarter, Holdings Channel reports. The institutional investor bought 3,665 shares of the company’s stock, valued at approximately $104,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IVT. Farmers & Merchants Investments Inc. acquired a new stake in shares of InvenTrust Properties during the 3rd quarter worth approximately $27,000. Creekmur Asset Management LLC increased its position in InvenTrust Properties by 96.7% in the third quarter. Creekmur Asset Management LLC now owns 1,617 shares of the company’s stock worth $46,000 after buying an additional 795 shares during the period. Hantz Financial Services Inc. bought a new stake in InvenTrust Properties in the second quarter valued at $57,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of InvenTrust Properties by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,634 shares of the company’s stock valued at $75,000 after acquiring an additional 681 shares during the period. Finally, Beacon Capital Management LLC grew its position in shares of InvenTrust Properties by 23.3% during the second quarter. Beacon Capital Management LLC now owns 3,663 shares of the company’s stock worth $91,000 after acquiring an additional 693 shares during the last quarter. 61.70% of the stock is currently owned by institutional investors and hedge funds.

InvenTrust Properties Price Performance

Shares of NYSE:IVT opened at $30.96 on Friday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 344.00, a PEG ratio of 3.56 and a beta of 0.97. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.59 and a quick ratio of 3.59. InvenTrust Properties Corp. has a 12 month low of $23.53 and a 12 month high of $31.65. The stock’s 50 day moving average price is $30.21 and its 200 day moving average price is $28.10.

InvenTrust Properties (NYSE:IVT) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.44). The firm had revenue of $68.52 million during the quarter. InvenTrust Properties had a net margin of 2.52% and a return on equity of 0.42%. During the same period last year, the business posted $0.41 EPS. Equities research analysts anticipate that InvenTrust Properties Corp. will post 1.73 earnings per share for the current fiscal year.

InvenTrust Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.226 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.90 annualized dividend and a dividend yield of 2.92%. InvenTrust Properties’s dividend payout ratio is currently 1,000.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IVT shares. Jefferies Financial Group initiated coverage on shares of InvenTrust Properties in a research note on Tuesday, November 19th. They set a “hold” rating and a $33.00 target price for the company. Bank of America raised InvenTrust Properties from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $33.00 in a report on Thursday, October 3rd. Compass Point lifted their target price on InvenTrust Properties from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company increased their price target on InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th.

About InvenTrust Properties

InvenTrust Properties Corp. (the “Company,” “IVT,” or “InvenTrust”) is a premier Sun Belt, multi-tenant essential retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood and community centers as well as high-quality power centers that often have a grocery component.