InvenTrust Properties (NYSE:IVT) Raised to Buy at Bank of America

Bank of America upgraded shares of InvenTrust Properties (NYSE:IVT) from a neutral rating to a buy rating in a report issued on Thursday morning, Marketbeat reports. Bank of America currently has $33.00 price objective on the stock, up from their previous price objective of $30.00.

Several other equities analysts have also recently commented on IVT. Wells Fargo & Company increased their price target on shares of InvenTrust Properties from $29.00 to $32.00 and gave the stock an overweight rating in a research report on Wednesday, August 28th. Compass Point increased their target price 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 0.8 %

NYSE IVT opened at $29.47 on Thursday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 294.70, a price-to-earnings-growth ratio of 4.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.24 and a quick ratio of 1.24. InvenTrust Properties has a 12 month low of $23.28 and a 12 month high of $30.33. The company’s fifty day moving average price is $28.67 and its two-hundred day moving average price is $26.25.

InvenTrust Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.226 per share. The ex-dividend date is Monday, September 30th. This represents a $0.90 annualized dividend and a yield of 3.07%. InvenTrust Properties’s dividend payout ratio (DPR) is 900.00%.

Hedge Funds Weigh In On InvenTrust Properties

Institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. bought a new position in InvenTrust Properties during the 2nd quarter worth $57,000. Beacon Capital Management LLC increased its position in shares of InvenTrust Properties by 23.3% during the 2nd quarter. Beacon Capital Management LLC now owns 3,663 shares of the company’s stock valued at $91,000 after purchasing an additional 693 shares during the period. EntryPoint Capital LLC raised its position in InvenTrust Properties by 899.3% in the first quarter. EntryPoint Capital LLC now owns 4,077 shares of the company’s stock worth $105,000 after acquiring an additional 3,669 shares in the last quarter. Global Financial Private Client LLC raised its holdings in shares of InvenTrust Properties by 20.0% in the 2nd quarter. Global Financial Private Client LLC now owns 5,992 shares of the company’s stock worth $148,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of InvenTrust Properties by 4,944.5% in the first quarter. Russell Investments Group Ltd. now owns 7,365 shares of the company’s stock valued at $189,000 after buying an additional 7,219 shares in the last quarter. 61.70% of the stock is owned by institutional investors.

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.