Geode Capital Management LLC Purchases 92,367 Shares of InvenTrust Properties Corp. (NYSE:IVT)

Geode Capital Management LLC boosted its position in InvenTrust Properties Corp. (NYSE:IVT) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,816,716 shares of the company’s stock after purchasing an additional 92,367 shares during the quarter. Geode Capital Management LLC’s holdings in InvenTrust Properties were worth $51,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. purchased a new stake in shares of InvenTrust Properties in the 3rd quarter worth about $27,000. Creekmur Asset Management LLC boosted its stake in InvenTrust Properties by 96.7% during the third quarter. Creekmur Asset Management LLC now owns 1,617 shares of the company’s stock worth $46,000 after acquiring an additional 795 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in InvenTrust Properties in the second quarter worth about $57,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of InvenTrust Properties by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,634 shares of the company’s stock valued at $75,000 after purchasing an additional 681 shares in the last quarter. Finally, Vestcor Inc purchased a new position in shares of InvenTrust Properties during the third quarter valued at approximately $104,000. Hedge funds and other institutional investors own 61.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

InvenTrust Properties Stock Performance

IVT stock opened at $29.80 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.59 and a quick ratio of 3.59. InvenTrust Properties Corp. has a 1 year low of $23.53 and a 1 year high of $31.65. The company has a market cap of $2.30 billion, a P/E ratio of 331.15, a price-to-earnings-growth ratio of 3.56 and a beta of 0.97. The stock’s fifty day moving average price is $30.32 and its 200-day moving average price is $28.35.

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

InvenTrust Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.2263 per share. This represents a $0.91 annualized dividend and a yield of 3.04%. This is a positive change from InvenTrust Properties’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, December 30th. InvenTrust Properties’s payout ratio is 1,000.00%.

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.