InvenTrust Properties Corp. (NYSE:IVT) Sees Large Decline in Short Interest

InvenTrust Properties Corp. (NYSE:IVT) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 796,600 shares, a decline of 36.3% from the September 30th total of 1,250,000 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 457,100 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Trading of InvenTrust Properties

A number of institutional investors have recently modified their holdings of the company. Executive Wealth Management LLC grew 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 worth $240,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System lifted its position in InvenTrust Properties by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 18,982 shares of the company’s stock worth $470,000 after acquiring an additional 423 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in InvenTrust Properties by 2.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,975 shares of the company’s stock worth $745,000 after acquiring an additional 565 shares in the last quarter. Van ECK Associates Corp lifted its position in InvenTrust Properties by 6.9% during the 2nd quarter. Van ECK Associates Corp now owns 10,426 shares of the company’s stock worth $258,000 after acquiring an additional 674 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in InvenTrust Properties by 34.9% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 61.70% of the company’s stock.

InvenTrust Properties Trading Down 0.1 %

IVT traded down $0.03 during midday trading on Tuesday, hitting $29.43. The company’s stock had a trading volume of 502,294 shares, compared to its average volume of 373,553. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.53. InvenTrust Properties has a 52-week low of $23.53 and a 52-week high of $30.33. The firm has a market cap of $2.00 billion, a P/E ratio of 294.30, a PEG ratio of 3.52 and a beta of 0.98. The firm has a 50-day moving average price of $29.18 and a two-hundred day moving average price of $26.77.

InvenTrust Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, September 30th. InvenTrust Properties’s payout ratio is currently 900.00%.

Analyst Ratings Changes

Several analysts have commented on IVT shares. Compass Point lifted their price target on 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 upgraded InvenTrust Properties from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $33.00 in a report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their price target on InvenTrust Properties from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th.

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.