InvenTrust Properties (NYSE:IVT) Hits New 12-Month High – Here’s What Happened

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

Analysts Set New Price Targets

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

InvenTrust Properties Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.59 and a current ratio of 3.59. The company has a 50-day simple moving average of $29.68 and a 200-day simple moving average of $27.58. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 350.44, a PEG ratio of 3.54 and a beta of 0.97.

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

InvenTrust Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued 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 is currently 1,000.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. acquired a new stake in shares of InvenTrust Properties in the 3rd quarter worth approximately $27,000. Creekmur Asset Management LLC raised its holdings in InvenTrust Properties by 96.7% during the third quarter. Creekmur Asset Management LLC now owns 1,617 shares of the company’s stock worth $46,000 after purchasing an additional 795 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in InvenTrust Properties during the second quarter worth $57,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in InvenTrust Properties by 34.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,634 shares of the company’s stock valued at $75,000 after purchasing an additional 681 shares during the last quarter. Finally, Beacon Capital Management LLC raised its stake 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 buying an additional 693 shares during the last quarter. 61.70% of the stock is owned by hedge funds and other institutional investors.

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.