Bank of New York Mellon Corp Boosts Stock Position in InvenTrust Properties Corp. (NYSE:IVT)

Bank of New York Mellon Corp grew its position in shares of InvenTrust Properties Corp. (NYSE:IVT) by 18.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 322,487 shares of the company’s stock after buying an additional 50,178 shares during the period. Bank of New York Mellon Corp owned 0.42% of InvenTrust Properties worth $9,717,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IVT. Vestcor Inc purchased a new position in shares of InvenTrust Properties during the 3rd quarter valued at $104,000. US Bancorp DE lifted its position in shares of InvenTrust Properties by 39.8% during the 3rd quarter. US Bancorp DE now owns 3,810 shares of the company’s stock valued at $108,000 after buying an additional 1,085 shares during the last quarter. Truist Financial Corp bought a new stake in shares of InvenTrust Properties during the 4th quarter valued at $204,000. Atria Wealth Solutions Inc. bought a new stake in shares of InvenTrust Properties during the 4th quarter valued at $212,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of InvenTrust Properties during the 3rd quarter valued at $217,000. Hedge funds and other institutional investors own 61.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upgraded InvenTrust Properties from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $34.00 in a research note on Thursday, January 2nd.

InvenTrust Properties Stock Performance

NYSE:IVT opened at $28.68 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 1.99. InvenTrust Properties Corp. has a 52-week low of $23.53 and a 52-week high of $31.65. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 159.32, a PEG ratio of 3.34 and a beta of 0.96. The business’s fifty day moving average is $29.53 and its 200 day moving average is $29.76.

InvenTrust Properties (NYSE:IVT) last announced its earnings results on Tuesday, February 11th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.39. InvenTrust Properties had a return on equity of 0.83% and a net margin of 4.99%. Research analysts predict that InvenTrust Properties Corp. will post 1.79 EPS for the current year.

InvenTrust Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.2376 dividend. This is a positive change from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.95 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Monday, March 31st. InvenTrust Properties’s dividend payout ratio is currently 500.00%.

InvenTrust Properties 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.