InvenTrust Properties (NYSE:IVT) Price Target Cut to $32.00 by Analysts at Wells Fargo & Company

InvenTrust Properties (NYSE:IVT) had its price objective reduced by Wells Fargo & Company from $33.00 to $32.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

IVT has been the subject of several other research reports. Wolfe Research initiated coverage on shares of InvenTrust Properties in a research note on Thursday, March 20th. They issued a “peer perform” rating for the company. Jefferies Financial Group upgraded shares of InvenTrust Properties from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $34.00 in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

InvenTrust Properties Trading Up 0.6 %

NYSE:IVT opened at $29.39 on Wednesday. InvenTrust Properties has a 12-month low of $23.53 and a 12-month high of $31.65. The firm has a market cap of $2.28 billion, a PE ratio of 163.29, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96. 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 stock has a fifty day moving average price of $29.52 and a 200 day moving average price of $29.75.

InvenTrust Properties (NYSE:IVT) last posted its earnings results on Tuesday, February 11th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.39. InvenTrust Properties had a return on equity of 0.83% and a net margin of 4.99%. Sell-side analysts anticipate that InvenTrust Properties will post 1.79 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 Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.2376 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.95 dividend on an annualized basis and a yield of 3.23%. This is a boost from InvenTrust Properties’s previous quarterly dividend of $0.23. InvenTrust Properties’s dividend payout ratio (DPR) is currently 527.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in shares of InvenTrust Properties by 51.9% during the fourth quarter. Millennium Management LLC now owns 2,457,305 shares of the company’s stock valued at $74,039,000 after acquiring an additional 839,541 shares during the period. Principal Financial Group Inc. grew its stake in InvenTrust Properties by 21.9% in the 3rd quarter. Principal Financial Group Inc. now owns 4,117,296 shares of the company’s stock valued at $116,808,000 after buying an additional 738,784 shares during the last quarter. FMR LLC lifted its position in shares of InvenTrust Properties by 22,456.4% during the 3rd quarter. FMR LLC now owns 580,602 shares of the company’s stock worth $16,472,000 after purchasing an additional 578,028 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of InvenTrust Properties in the third quarter valued at approximately $14,185,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in InvenTrust Properties by 425.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 462,879 shares of the company’s stock worth $13,132,000 after purchasing an additional 374,804 shares during the last quarter. Institutional investors 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.