Wellington Management Group LLP grew its holdings in InvenTrust Properties Corp. (NYSE:IVT – Free Report) by 1,843.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 647,037 shares of the company’s stock after acquiring an additional 613,738 shares during the period. Wellington Management Group LLP’s holdings in InvenTrust Properties were worth $22,905,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in InvenTrust Properties by 1,756.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 122,844 shares of the company’s stock worth $3,465,000 after purchasing an additional 116,226 shares in the last quarter. Sei Investments Co. raised its holdings in InvenTrust Properties by 61.7% in the 1st quarter. Sei Investments Co. now owns 106,373 shares of the company’s stock valued at $3,240,000 after buying an additional 40,600 shares during the last quarter. UBS Group AG boosted its position in InvenTrust Properties by 265.8% during the 4th quarter. UBS Group AG now owns 216,948 shares of the company’s stock worth $6,120,000 after buying an additional 157,633 shares during the period. Adelante Capital Management LLC bought a new stake in InvenTrust Properties during the 2nd quarter worth approximately $13,400,000. Finally, Principal Financial Group Inc. increased its position in InvenTrust Properties by 24.9% in the 1st quarter. Principal Financial Group Inc. now owns 7,729,381 shares of the company’s stock valued at $235,438,000 after acquiring an additional 1,539,672 shares during the period. Institutional investors own 61.70% of the company’s stock.
InvenTrust Properties Stock Up 0.0%
IVT stock opened at $32.56 on Friday. The stock’s 50 day simple moving average is $34.43 and its 200 day simple moving average is $32.95. The company has a market cap of $2.54 billion, a P/E ratio of 162.80, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.73 and a current ratio of 1.73. InvenTrust Properties Corp. has a fifty-two week low of $26.81 and a fifty-two week high of $37.22.
InvenTrust Properties Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, June 30th. InvenTrust Properties’s dividend payout ratio is currently 500.00%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on IVT. Wall Street Zen lowered InvenTrust Properties from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Jefferies Financial Group raised shares of InvenTrust Properties to a “strong-buy” rating in a research note on Friday, June 26th. Bank of America upped their price target on shares of InvenTrust Properties from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Weiss Ratings lowered InvenTrust Properties from a “buy (b)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, BTIG Research restated a “buy” rating and set a $37.00 target price on shares of InvenTrust Properties in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.
Get Our Latest Stock Report on InvenTrust Properties
InvenTrust Properties Company Profile
InvenTrust Properties Corp is a self‐managed real estate investment trust specializing in suburban and urban retail real estate. Headquartered in Downers Grove, Illinois, the company focuses on the acquisition, leasing and management of open‐air shopping centers that serve everyday consumer needs.
The company’s portfolio is concentrated in neighborhood and community retail assets anchored by grocery stores, pharmacies and national service tenants. InvenTrust engages in active leasing strategies, property management services and selective development and redevelopment initiatives designed to enhance long‐term cash flow and tenant mix.
InvenTrust Properties was created in 2019 through the spin‐off of its predecessor, Inland Real Estate Investment Corp, and adopted its current name upon separation.
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