InvenTrust Properties (NYSE:IVT) Sees Strong Trading Volume Following Dividend Announcement

Shares of InvenTrust Properties Corp. (NYSE:IVT) saw an uptick in trading volume on Friday after the company announced a dividend. 897,323 shares traded hands during trading, an increase of 133% from the previous session’s volume of 384,417 shares.The stock last traded at $28.35 and had previously closed at $28.36.

The newly announced dividend which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.2376 per share. This is an increase from InvenTrust Properties’s previous quarterly dividend of $0.23. This represents a $0.95 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, March 31st. InvenTrust Properties’s dividend payout ratio is currently 500.00%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of 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.

InvenTrust Properties Stock Up 1.1 %

The firm has a 50-day moving average price of $29.56 and a two-hundred day moving average price of $29.76. The company has a market capitalization of $2.22 billion, a P/E ratio of 159.32, a PEG ratio of 3.34 and a beta of 0.96. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.42.

InvenTrust Properties (NYSE:IVT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.43 earnings per share (EPS) 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%. Equities research analysts anticipate that InvenTrust Properties Corp. will post 1.79 EPS for the current fiscal year.

Institutional Trading of InvenTrust Properties

Several institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its holdings in InvenTrust Properties by 51.9% in the 4th quarter. Millennium Management LLC now owns 2,457,305 shares of the company’s stock valued at $74,039,000 after buying an additional 839,541 shares during the period. Principal Financial Group Inc. lifted its stake in InvenTrust Properties by 21.9% during the third quarter. Principal Financial Group Inc. now owns 4,117,296 shares of the company’s stock worth $116,808,000 after purchasing an additional 738,784 shares during the period. FMR LLC grew its stake in shares of InvenTrust Properties by 22,456.4% in the 3rd quarter. FMR LLC now owns 580,602 shares of the company’s stock valued at $16,472,000 after purchasing an additional 578,028 shares during the period. Zimmer Partners LP acquired a new position in shares of InvenTrust Properties in the 3rd quarter worth approximately $14,185,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of InvenTrust Properties by 425.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 462,879 shares of the company’s stock worth $13,132,000 after buying an additional 374,804 shares during the period. Institutional investors and hedge funds 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.