InvenTrust Properties (NYSE:IVT) Sees Unusually-High Trading Volume After Dividend Announcement

Shares of InvenTrust Properties Corp. (NYSE:IVT - Get Free Report) saw strong trading volume on Friday following a dividend announcement from the company. 897,323 shares changed hands during mid-day trading, an increase of 133% from the previous session's volume of 384,417 shares.The stock last traded at $28.35 and had previously closed at $28.36.

The newly announced dividend which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.2376 dividend. This is an increase from InvenTrust Properties's previous quarterly dividend of $0.23. This represents a $0.95 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, March 31st. InvenTrust Properties's dividend payout ratio (DPR) is currently 500.00%.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised InvenTrust Properties from a "hold" rating to a "buy" rating and raised their price target for the stock from $33.00 to $34.00 in a report on Thursday, January 2nd.

InvenTrust Properties Stock Down 0.4 %

The company has a market cap of $2.24 billion, a P/E ratio of 160.91, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96. The company has a 50 day moving average of $29.53 and a 200-day moving average of $29.77. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.99 and a quick ratio of 1.99.

InvenTrust Properties (NYSE:IVT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.39. InvenTrust Properties had a return on equity of 0.83% and a net margin of 4.99%. On average, equities analysts predict that InvenTrust Properties Corp. will post 1.79 earnings per share for the current year.

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Institutional Investors Weigh In On InvenTrust Properties

Several hedge funds have recently added to or reduced their stakes in IVT. Sumitomo Mitsui Trust Group Inc. lifted its stake in InvenTrust Properties by 6.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 81,470 shares of the company's stock worth $2,311,000 after purchasing an additional 5,221 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in InvenTrust Properties during the third quarter worth about $1,980,000. Jennison Associates LLC purchased a new position in shares of InvenTrust Properties in the third quarter worth about $664,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of InvenTrust Properties in the third quarter worth about $217,000. Finally, Intech Investment Management LLC purchased a new position in shares of InvenTrust Properties in the third quarter worth about $584,000. 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.