InvenTrust Properties (NYSE:IVT) Upgraded to “Buy” by Bank of America

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

Other analysts have also issued reports about the stock. Compass Point increased their price target on shares of InvenTrust Properties from $28.00 to $29.00 and gave the stock a neutral rating in a research report on Tuesday, September 10th. Wells Fargo & Company upped their price objective on shares of InvenTrust Properties from $29.00 to $32.00 and gave the company an overweight rating in a research note on Wednesday, August 28th.

InvenTrust Properties Stock Up 0.8 %

NYSE:IVT opened at $29.47 on Thursday. InvenTrust Properties has a 1-year low of $23.28 and a 1-year high of $30.33. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 294.70, a PEG ratio of 4.83 and a beta of 0.98. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.53. The business’s fifty day moving average price is $28.67 and its 200 day moving average price is $26.25.

InvenTrust Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, September 30th. InvenTrust Properties’s payout ratio is currently 900.00%.

Institutional Investors Weigh In On InvenTrust Properties

Institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in InvenTrust Properties by 36.2% during the third quarter. Handelsbanken Fonder AB now owns 22,200 shares of the company’s stock valued at $630,000 after acquiring an additional 5,900 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of InvenTrust Properties during the 3rd quarter worth $410,000. Creative Planning raised its holdings in shares of InvenTrust Properties by 6.1% during the 2nd quarter. Creative Planning now owns 40,862 shares of the company’s stock valued at $1,012,000 after purchasing an additional 2,360 shares in the last quarter. Algert Global LLC raised its holdings in shares of InvenTrust Properties by 15.5% during the 2nd quarter. Algert Global LLC now owns 50,911 shares of the company’s stock valued at $1,261,000 after purchasing an additional 6,827 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of InvenTrust Properties by 9.8% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 31,488 shares of the company’s stock valued at $780,000 after purchasing an additional 2,822 shares during the last quarter. 61.70% of the stock is currently owned by institutional investors and hedge funds.

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.