InvenTrust Properties (NYSE:IVT) Hits New 12-Month High – Should You Buy?

InvenTrust Properties Corp. (NYSE:IVT) shares hit a new 52-week high on Wednesday . The company traded as high as $31.53 and last traded at $31.49, with a volume of 90646 shares. The stock had previously closed at $30.80.

Wall Street Analyst Weigh In

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

InvenTrust Properties Trading Up 1.6 %

The business’s 50-day simple moving average is $29.74 and its 200-day simple moving average is $27.63. The company has a market cap of $2.41 billion, a PE ratio of 347.82, a P/E/G ratio of 3.61 and a beta of 0.97. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.42.

InvenTrust Properties (NYSE:IVT) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.44). InvenTrust Properties had a return on equity of 0.42% and a net margin of 2.52%. The firm had revenue of $68.52 million for the quarter. During the same period last year, the company posted $0.41 EPS. As a group, analysts expect that InvenTrust Properties Corp. will post 1.73 EPS for the current fiscal year.

InvenTrust Properties Dividend Announcement

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 dividend of $0.226 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.90 annualized dividend and a dividend yield of 2.89%. InvenTrust Properties’s dividend payout ratio is 1,011.22%.

Hedge Funds Weigh In On InvenTrust Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IVT. Geode Capital Management LLC grew its position in InvenTrust Properties by 5.4% in the third quarter. Geode Capital Management LLC now owns 1,816,716 shares of the company’s stock worth $51,550,000 after acquiring an additional 92,367 shares in the last quarter. Vestcor Inc bought a new stake in InvenTrust Properties in the third quarter worth $104,000. Barclays PLC boosted its holdings in InvenTrust Properties by 285.3% in the third quarter. Barclays PLC now owns 109,027 shares of the company’s stock worth $3,093,000 after purchasing an additional 80,728 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in InvenTrust Properties by 12.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 94,560 shares of the company’s stock worth $2,683,000 after buying an additional 10,110 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in InvenTrust Properties during the third quarter valued at about $218,000. Institutional investors own 61.70% of the company’s stock.

InvenTrust Properties Company 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.