InvenTrust Properties (NYSE:IVT) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of InvenTrust Properties (NYSE:IVT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. Jefferies Financial Group currently has $34.00 price objective on the stock, up from their previous price objective of $33.00.

A number of other brokerages have also weighed in on IVT. Bank of America upgraded shares of InvenTrust Properties from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $33.00 in a research note on Thursday, October 3rd. Compass Point lifted their price objective on InvenTrust Properties from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th.

InvenTrust Properties Trading Up 1.0 %

InvenTrust Properties stock opened at $30.08 on Thursday. InvenTrust Properties has a one year low of $23.53 and a one year high of $31.65. The business’s fifty day moving average is $30.42 and its 200 day moving average is $28.67. The stock has a market capitalization of $2.32 billion, a PE ratio of 334.26, a price-to-earnings-growth ratio of 3.57 and a beta of 0.97. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.44). InvenTrust Properties had a net margin of 2.52% and a return on equity of 0.42%. The company had revenue of $68.52 million for the quarter. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, sell-side analysts predict that InvenTrust Properties will post 1.73 EPS for the current year.

InvenTrust Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.2263 per share. This is a boost from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.91 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, December 30th. InvenTrust Properties’s dividend payout ratio is currently 1,000.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IVT. Bank of New York Mellon Corp raised its holdings in InvenTrust Properties by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 327,598 shares of the company’s stock worth $8,111,000 after purchasing an additional 25,918 shares during the period. Van ECK Associates Corp lifted its position in shares of InvenTrust Properties by 6.9% during the 2nd quarter. Van ECK Associates Corp now owns 10,426 shares of the company’s stock valued at $258,000 after buying an additional 674 shares in the last quarter. Wolverine Asset Management LLC grew its stake in shares of InvenTrust Properties by 232.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 53,744 shares of the company’s stock valued at $1,331,000 after acquiring an additional 37,585 shares during the period. Arizona State Retirement System increased its holdings in InvenTrust Properties by 2.3% in 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. Finally, Savant Capital LLC purchased a new stake in InvenTrust Properties in the 2nd quarter worth approximately $4,445,000. Hedge funds and other 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.