InvenTrust Properties (NYSE:IVT) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of InvenTrust Properties (NYSE:IVT) from a hold rating to a buy rating in a report issued on Thursday morning, MarketBeat.com reports. They currently have $34.00 price objective on the stock, up from their prior price objective of $33.00.

A number of other brokerages have also weighed in on IVT. Compass Point boosted their price objective 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. Bank of America raised InvenTrust Properties from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $33.00 in a research report on Thursday, October 3rd.

InvenTrust Properties Stock Down 1.2 %

Shares of IVT stock opened at $29.78 on Thursday. The stock’s fifty day moving average price is $30.40 and its 200 day moving average price is $28.63. InvenTrust Properties has a 1-year low of $23.53 and a 1-year high of $31.65. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 330.93, a price-to-earnings-growth ratio of 3.57 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 (NYSE:IVT) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.44). The business had revenue of $68.52 million for the quarter. InvenTrust Properties had a return on equity of 0.42% and a net margin of 2.52%. During the same quarter last year, the firm earned $0.41 EPS. On average, research analysts expect that InvenTrust Properties will post 1.73 earnings per share for the current fiscal year.

InvenTrust Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be issued a dividend of $0.2263 per share. This represents a $0.91 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Monday, December 30th. This is a boost from InvenTrust Properties’s previous quarterly dividend of $0.23. InvenTrust Properties’s dividend payout ratio (DPR) is 1,000.00%.

Institutional Investors Weigh In On InvenTrust Properties

Hedge funds have recently added to or reduced their stakes in the business. Executive Wealth Management LLC increased its holdings in shares of InvenTrust Properties by 4.3% during the 2nd quarter. Executive Wealth Management LLC now owns 9,703 shares of the company’s stock valued at $240,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System grew its position in InvenTrust Properties by 2.3% during the second quarter. Arizona State Retirement System now owns 18,982 shares of the company’s stock valued at $470,000 after buying an additional 423 shares during the period. Van ECK Associates Corp raised its position in shares of InvenTrust Properties by 6.9% in the second quarter. Van ECK Associates Corp now owns 10,426 shares of the company’s stock worth $258,000 after acquiring an additional 674 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 worth $75,000 after acquiring an additional 681 shares during the period. Finally, CWM LLC boosted its stake in shares of InvenTrust Properties by 9.3% during the 3rd quarter. CWM LLC now owns 9,022 shares of the company’s stock worth $256,000 after acquiring an additional 766 shares in 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.