Vestcor Inc Buys New Stake in InvenTrust Properties Corp. (NYSE:IVT)

Vestcor Inc purchased a new stake in InvenTrust Properties Corp. (NYSE:IVT) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,665 shares of the company’s stock, valued at approximately $104,000.

Other hedge funds also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. purchased a new stake in shares of InvenTrust Properties in the third quarter worth about $27,000. Creekmur Asset Management LLC boosted its holdings in InvenTrust Properties by 96.7% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,617 shares of the company’s stock worth $46,000 after acquiring an additional 795 shares during the period. Hantz Financial Services Inc. acquired a new stake in InvenTrust Properties in the second quarter valued at approximately $57,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of InvenTrust Properties by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,634 shares of the company’s stock valued at $75,000 after purchasing an additional 681 shares during the period. Finally, Beacon Capital Management LLC lifted its position in shares of InvenTrust Properties by 23.3% during the second quarter. Beacon Capital Management LLC now owns 3,663 shares of the company’s stock worth $91,000 after purchasing an additional 693 shares in the last quarter. 61.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of InvenTrust Properties from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Bank of America raised InvenTrust Properties from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $33.00 in a research report on Thursday, October 3rd. Compass Point increased 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. Finally, Jefferies Financial Group began coverage on InvenTrust Properties in a research note on Tuesday, November 19th. They set a “hold” rating and a $33.00 price objective for the company.

InvenTrust Properties Trading Up 0.2 %

NYSE IVT opened at $30.96 on Friday. The company’s fifty day moving average price is $30.21 and its two-hundred day moving average price is $28.10. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 344.00, a price-to-earnings-growth ratio of 3.56 and a beta of 0.97. InvenTrust Properties Corp. has a 12 month low of $23.53 and a 12 month high of $31.65. 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) EPS for the quarter, missing the consensus estimate of $0.43 by ($0.44). The company 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 earnings per share. As a group, research analysts predict that InvenTrust Properties Corp. will post 1.73 earnings per share for the current fiscal year.

InvenTrust Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.226 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.92%. InvenTrust Properties’s dividend payout ratio (DPR) is 1,000.00%.

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.