Jefferies Financial Group Upgrades InvenTrust Properties (NYSE:IVT) to “Buy”

Jefferies Financial Group upgraded shares of InvenTrust Properties (NYSE:IVT) from a hold rating to a buy rating in a report published on Thursday, MarketBeat.com reports. The firm currently has $34.00 price objective on the stock, up from their previous price objective of $33.00.

IVT has been the subject of several other reports. Compass Point raised their target price on shares of InvenTrust Properties from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Bank of America raised shares of InvenTrust Properties from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $33.00 in a report on Thursday, October 3rd.

InvenTrust Properties Price Performance

Shares of InvenTrust Properties stock opened at $30.08 on Thursday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.42. InvenTrust Properties has a 52 week low of $23.53 and a 52 week high of $31.65. The stock’s 50-day simple moving average is $30.42 and its 200-day simple moving average is $28.67. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 334.26, a PEG ratio of 3.57 and a beta of 0.97.

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

InvenTrust Properties Increases Dividend

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

Institutional Trading of InvenTrust Properties

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of InvenTrust Properties by 21.9% in the 3rd quarter. Principal Financial Group Inc. now owns 4,117,296 shares of the company’s stock valued at $116,808,000 after acquiring an additional 738,784 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of InvenTrust Properties by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,816,716 shares of the company’s stock valued at $51,550,000 after purchasing an additional 92,367 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of InvenTrust Properties by 17.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,179,667 shares of the company’s stock worth $33,467,000 after purchasing an additional 175,838 shares during the period. Millennium Management LLC increased its position in shares of InvenTrust Properties by 13.9% during the 2nd quarter. Millennium Management LLC now owns 998,877 shares of the company’s stock valued at $24,732,000 after purchasing an additional 122,248 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in InvenTrust Properties by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 812,825 shares of the company’s stock valued at $20,125,000 after buying an additional 35,051 shares during the period. 61.70% of the stock is currently owned by institutional investors.

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.