Millennium Management LLC Increases Stake in InvenTrust Properties Corp. (NYSE:IVT)

Millennium Management LLC raised its position in InvenTrust Properties Corp. (NYSE:IVT) by 51.9% in the 4th quarter, Holdings Channel reports. The fund owned 2,457,305 shares of the company’s stock after acquiring an additional 839,541 shares during the period. Millennium Management LLC’s holdings in InvenTrust Properties were worth $74,039,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in IVT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in InvenTrust Properties by 17.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,107 shares of the company’s stock worth $1,329,000 after purchasing an additional 6,679 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in InvenTrust Properties by 43.1% in the 4th quarter. Lazard Asset Management LLC now owns 38,538 shares of the company’s stock valued at $1,161,000 after purchasing an additional 11,604 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in InvenTrust Properties by 1.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 528,319 shares of the company’s stock worth $15,918,000 after purchasing an additional 6,340 shares during the period. Deutsche Bank AG raised its stake in shares of InvenTrust Properties by 33.5% during the 4th quarter. Deutsche Bank AG now owns 91,745 shares of the company’s stock worth $2,764,000 after buying an additional 22,999 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in shares of InvenTrust Properties by 49.9% in the 4th quarter. Cresset Asset Management LLC now owns 24,962 shares of the company’s stock valued at $754,000 after buying an additional 8,306 shares during the period. Hedge funds and other institutional investors own 61.70% of the company’s stock.

InvenTrust Properties Stock Performance

Shares of IVT stock opened at $28.30 on Friday. The stock has a fifty day moving average price of $28.09 and a 200 day moving average price of $29.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market cap of $2.20 billion, a PE ratio of 157.22, a P/E/G ratio of 3.34 and a beta of 0.93. InvenTrust Properties Corp. has a 1 year low of $23.69 and a 1 year high of $31.65.

InvenTrust Properties (NYSE:IVT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.39. InvenTrust Properties had a return on equity of 0.83% and a net margin of 4.99%. Sell-side analysts forecast that InvenTrust Properties Corp. will post 1.79 earnings per share for the current fiscal year.

InvenTrust Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.2376 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 3.36%. This is a boost from InvenTrust Properties’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 31st. InvenTrust Properties’s dividend payout ratio is presently 413.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IVT. Wells Fargo & Company dropped their price objective on InvenTrust Properties from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Wolfe Research began coverage on shares of InvenTrust Properties in a research note on Thursday, March 20th. They set a “peer perform” rating on the stock. Finally, BTIG Research initiated coverage on shares of InvenTrust Properties in a research note on Monday, April 28th. They issued a “buy” rating and a $31.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

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.