InvenTrust Properties (NYSE:IVT) Lifted to Buy at Bank of America

InvenTrust Properties (NYSE:IVT) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $33.00 price objective on the stock, up from their prior price objective of $30.00. Bank of America‘s price objective indicates a potential upside of 11.98% from the company’s previous close.

A number of other analysts have also recently weighed in on IVT. Compass Point raised their price target on InvenTrust Properties from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Wells Fargo & Company raised their target price on InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th.

InvenTrust Properties Price Performance

Shares of IVT opened at $29.47 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.53. The firm’s fifty day simple moving average is $28.67 and its 200-day simple moving average is $26.24. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 294.70, a PEG ratio of 4.83 and a beta of 0.99. InvenTrust Properties has a twelve month low of $23.28 and a twelve month high of $30.33.

Institutional Trading of InvenTrust Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. purchased a new position in InvenTrust Properties during the 2nd quarter worth $57,000. Beacon Capital Management LLC lifted its stake in shares of InvenTrust Properties by 23.3% in the second quarter. Beacon Capital Management LLC now owns 3,663 shares of the company’s stock valued at $91,000 after purchasing an additional 693 shares during the period. EntryPoint Capital LLC grew its position in InvenTrust Properties by 899.3% during the first quarter. EntryPoint Capital LLC now owns 4,077 shares of the company’s stock worth $105,000 after buying an additional 3,669 shares during the period. Global Financial Private Client LLC increased its holdings in InvenTrust Properties by 20.0% in the second quarter. Global Financial Private Client LLC now owns 5,992 shares of the company’s stock valued at $148,000 after buying an additional 1,000 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of InvenTrust Properties by 4,944.5% during the 1st quarter. Russell Investments Group Ltd. now owns 7,365 shares of the company’s stock valued at $189,000 after acquiring an additional 7,219 shares during the period. 61.70% of the stock is owned by hedge funds and other institutional investors.

InvenTrust Properties Company Profile

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.