InvenTrust Properties (NYSE:IVT) Sees Large Volume Increase After Dividend Announcement

InvenTrust Properties Corp. (NYSE:IVT) shares saw unusually-high trading volume on Friday after the company announced a dividend. Approximately 897,323 shares changed hands during trading, an increase of 133% from the previous session’s volume of 384,417 shares.The stock last traded at $28.35 and had previously closed at $28.36.

The newly announced dividend which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.2376 per share. This is an increase from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.95 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, March 31st. InvenTrust Properties’s payout ratio is presently 500.00%.

Analysts Set New Price Targets

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

InvenTrust Properties Stock Up 1.1 %

The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $29.53 and its 200-day simple moving average is $29.76. The company has a market capitalization of $2.22 billion, a PE ratio of 159.32, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96.

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

Hedge Funds Weigh In On InvenTrust Properties

Several institutional investors and hedge funds have recently modified their holdings of IVT. Millstone Evans Group LLC purchased a new position in InvenTrust Properties during the fourth quarter valued at approximately $27,000. GF Fund Management CO. LTD. acquired a new stake in shares of InvenTrust Properties during the 4th quarter worth approximately $42,000. Bernard Wealth Management Corp. purchased a new position in shares of InvenTrust Properties during the 4th quarter valued at approximately $50,000. Quarry LP purchased a new position in shares of InvenTrust Properties during the 4th quarter valued at approximately $53,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of InvenTrust Properties by 123.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,858 shares of the company’s stock valued at $56,000 after purchasing an additional 1,026 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.