Wells Fargo & Company Cuts InvenTrust Properties (NYSE:IVT) Price Target to $32.00

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

Several other brokerages have also recently issued reports on IVT. Wolfe Research began coverage on shares of InvenTrust Properties in a research report on Thursday, March 20th. They set a “peer perform” rating on the stock. Jefferies Financial Group raised shares of InvenTrust Properties from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $34.00 in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, InvenTrust Properties currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

InvenTrust Properties Stock Down 0.2 %

Shares of NYSE IVT opened at $29.22 on Wednesday. The business has a 50-day moving average of $29.53 and a 200-day moving average of $29.74. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 162.31, a PEG ratio of 3.34 and a beta of 0.96. InvenTrust Properties has a 12 month low of $23.53 and a 12 month high of $31.65.

InvenTrust Properties (NYSE:IVT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.39. InvenTrust Properties had a net margin of 4.99% and a return on equity of 0.83%. Sell-side analysts expect that InvenTrust Properties will post 1.79 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 Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.2376 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.25%. InvenTrust Properties’s dividend payout ratio (DPR) is 527.78%.

Hedge Funds Weigh In On InvenTrust Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. FIL Ltd grew its stake in InvenTrust Properties by 17.4% in the fourth quarter. FIL Ltd now owns 2,240 shares of the company’s stock worth $67,000 after purchasing an additional 332 shares in the last quarter. Allworth Financial LP raised its stake in shares of InvenTrust Properties by 4.4% during the 4th quarter. Allworth Financial LP now owns 8,992 shares of the company’s stock valued at $258,000 after buying an additional 383 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of InvenTrust Properties by 29.4% during the 4th quarter. NewEdge Advisors LLC now owns 2,046 shares of the company’s stock worth $62,000 after purchasing an additional 465 shares during the period. EntryPoint Capital LLC raised its position in shares of InvenTrust Properties by 7.5% in the fourth quarter. EntryPoint Capital LLC now owns 9,823 shares of the company’s stock worth $296,000 after acquiring an additional 682 shares during the period. Finally, US Bancorp DE increased its position in shares of InvenTrust Properties by 19.8% in the fourth quarter. US Bancorp DE now owns 4,566 shares of the company’s stock valued at $138,000 after buying an additional 756 shares in the last quarter. Hedge funds and other 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.