InvenTrust Properties (NYSE:IVT) Given New $32.00 Price Target at Wells Fargo & Company

InvenTrust Properties (NYSE:IVT - Free Report) had its target price reduced by Wells Fargo & Company from $33.00 to $32.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on IVT. Jefferies Financial Group upgraded InvenTrust Properties from a "hold" rating to a "buy" rating and boosted their target price for the stock from $33.00 to $34.00 in a research report on Thursday, January 2nd. Wolfe Research started coverage on InvenTrust Properties in a report on Thursday, March 20th. They set a "peer perform" rating for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, InvenTrust Properties currently has an average rating of "Moderate Buy" and an average price target of $32.00.

InvenTrust Properties Price Performance

Shares of NYSE:IVT traded down $0.05 during midday trading on Wednesday, reaching $29.22. The company's stock had a trading volume of 369,444 shares, compared to its average volume of 408,622. The business's fifty day simple moving average is $29.53 and its 200-day simple moving average is $29.75. The company has a market capitalization of $2.26 billion, a P/E ratio of 162.31, a P/E/G ratio of 3.34 and a beta of 0.96. 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 has a fifty-two week low of $23.53 and a fifty-two week high of $31.65.

InvenTrust Properties (NYSE:IVT - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.39. InvenTrust Properties had a net margin of 4.99% and a return on equity of 0.83%. As a group, equities research analysts expect that InvenTrust Properties will post 1.79 EPS for the current fiscal year.

InvenTrust Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.2376 dividend. This is a positive change from InvenTrust Properties's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.95 annualized dividend and a yield of 3.25%. InvenTrust Properties's dividend payout ratio is presently 527.78%.

Institutional Trading of InvenTrust Properties

A number of institutional investors and hedge funds have recently modified their holdings of IVT. Thrivent Financial for Lutherans bought a new stake in InvenTrust Properties in the third quarter valued at approximately $1,980,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of InvenTrust Properties in the 3rd quarter valued at $217,000. Intech Investment Management LLC acquired a new stake in InvenTrust Properties during the 3rd quarter worth $584,000. Charles Schwab Investment Management Inc. raised its stake in InvenTrust Properties by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,179,667 shares of the company's stock worth $33,467,000 after buying an additional 175,838 shares during the period. Finally, Algert Global LLC lifted its holdings in InvenTrust Properties by 28.9% during the third quarter. Algert Global LLC now owns 65,621 shares of the company's stock worth $1,862,000 after acquiring an additional 14,710 shares in the last quarter. 61.70% of the stock is 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.