Jennison Associates LLC Acquires New Position in InvenTrust Properties Corp. (NYSE:IVT)

Jennison Associates LLC acquired a new stake in shares of InvenTrust Properties Corp. (NYSE:IVT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,400 shares of the company’s stock, valued at approximately $664,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of InvenTrust Properties by 21.9% in the third quarter. Principal Financial Group Inc. now owns 4,117,296 shares of the company’s stock valued at $116,808,000 after purchasing an additional 738,784 shares during the period. International Assets Investment Management LLC raised its holdings in InvenTrust Properties by 1,823.0% during the 3rd quarter. International Assets Investment Management LLC now owns 261,657 shares of the company’s stock valued at $7,423,000 after acquiring an additional 248,050 shares during the period. Savant Capital LLC purchased a new stake in shares of InvenTrust Properties during the second quarter worth $4,445,000. Seven Grand Managers LLC bought a new position in shares of InvenTrust Properties in the third quarter worth $3,575,000. Finally, Millennium Management LLC grew its position in shares of InvenTrust Properties by 13.9% in the second quarter. Millennium Management LLC now owns 998,877 shares of the company’s stock valued at $24,732,000 after purchasing an additional 122,248 shares in the last quarter. Institutional investors own 61.70% of the company’s stock.

InvenTrust Properties Stock Performance

NYSE:IVT opened at $30.75 on Friday. The stock has a market cap of $2.37 billion, a P/E ratio of 341.70, a PEG ratio of 3.57 and a beta of 0.97. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $29.64 and its two-hundred day moving average price is $27.46. InvenTrust Properties Corp. has a twelve month low of $23.53 and a twelve month high of $31.37.

InvenTrust Properties (NYSE:IVT) last announced its earnings results on Tuesday, October 29th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.44). InvenTrust Properties had a net margin of 2.52% and a return on equity of 0.42%. The company had revenue of $68.52 million during the quarter. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, equities analysts predict that InvenTrust Properties Corp. will post 1.73 EPS for the current fiscal year.

InvenTrust Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.226 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.90 annualized dividend and a yield of 2.94%. InvenTrust Properties’s dividend payout ratio (DPR) is presently 1,011.22%.

Analyst Ratings Changes

A number of brokerages recently issued reports on IVT. Compass Point increased their price objective on InvenTrust Properties from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Wells Fargo & Company upped their price target on InvenTrust Properties from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Jefferies Financial Group initiated coverage on shares of InvenTrust Properties in a research report on Tuesday, November 19th. They issued a “hold” rating and a $33.00 price objective for the company. Finally, Bank of America raised shares of InvenTrust Properties from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $33.00 in a report on Thursday, October 3rd.

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.