InvenTrust Properties (NYSE:IVT) Hits New 1-Year High – Here’s What Happened

InvenTrust Properties Corp. (NYSE:IVT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.53 and last traded at $31.49, with a volume of 90646 shares traded. The stock had previously closed at $30.80.

Wall Street Analyst Weigh In

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

InvenTrust Properties Stock Up 1.6 %

The firm has a 50-day moving average price of $29.74 and a two-hundred day moving average price of $27.63. The company has a market capitalization of $2.41 billion, a P/E ratio of 347.82, a PEG ratio of 3.61 and a beta of 0.97. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.42.

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

InvenTrust Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.226 per share. This represents a $0.90 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Monday, September 30th. InvenTrust Properties’s dividend payout ratio (DPR) is presently 1,011.22%.

Hedge Funds Weigh In On InvenTrust Properties

Large investors have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. bought a new stake in shares of InvenTrust Properties during the third quarter valued at approximately $27,000. Creekmur Asset Management LLC increased its holdings in InvenTrust Properties by 96.7% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,617 shares of the company’s stock valued at $46,000 after buying an additional 795 shares during the period. Hantz Financial Services Inc. bought a new stake in InvenTrust Properties in the 2nd quarter valued at $57,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of InvenTrust Properties by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,634 shares of the company’s stock worth $75,000 after acquiring an additional 681 shares during the period. Finally, Beacon Capital Management LLC lifted its holdings in shares of InvenTrust Properties by 23.3% during the 2nd 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 period. Institutional investors and hedge funds own 61.70% of the company’s stock.

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.