InvenTrust Properties Corp. $IVT Shares Sold by Adelante Capital Management LLC

Key Points

• Adelante Capital Management LLC reduced its stake in InvenTrust Properties Corp. by 14.7%, selling 62,596 shares and holding approximately 0.47% of the company after the sale, valued at $10.6 million.
• InvenTrust Properties recently declared a quarterly dividend of $0.2377 per share, marking an increase from the previous dividend and yielding 3.2% annually.
• Wells Fargo raised its target price for InvenTrust Properties from $32.00 to $34.00 and rated the stock as "overweight."

Adelante Capital Management LLC reduced its stake in InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 14.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 362,173 shares of the company's stock after selling 62,596 shares during the period. Adelante Capital Management LLC owned approximately 0.47% of InvenTrust Properties worth $10,637,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. State of Alaska Department of Revenue grew its holdings in InvenTrust Properties by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 37,587 shares of the company's stock valued at $1,103,000 after buying an additional 475 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of InvenTrust Properties by 6.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,846 shares of the company's stock valued at $260,000 after acquiring an additional 506 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of InvenTrust Properties by 3.8% in the first quarter. Cerity Partners LLC now owns 14,844 shares of the company's stock valued at $436,000 after purchasing an additional 545 shares in the last quarter. Comerica Bank grew its holdings in shares of InvenTrust Properties by 80.5% in the first quarter. Comerica Bank now owns 2,245 shares of the company's stock valued at $66,000 after purchasing an additional 1,001 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in InvenTrust Properties by 6.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,044 shares of the company's stock valued at $501,000 after purchasing an additional 1,040 shares in the last quarter. Hedge funds and other institutional investors own 61.70% of the company's stock.

InvenTrust Properties Trading Up 0.9%

NYSE IVT traded up $0.27 during trading on Wednesday, hitting $29.34. The stock had a trading volume of 562,264 shares, compared to its average volume of 377,728. InvenTrust Properties Corp. has a one year low of $25.21 and a one year high of $31.65. The stock has a 50 day simple moving average of $28.08 and a 200 day simple moving average of $28.13. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 5.26 and a current ratio of 5.26.

InvenTrust Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.2377 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 3.2%. This is a boost from InvenTrust Properties's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, June 30th. InvenTrust Properties's payout ratio is currently 65.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. LADENBURG THALM/SH SH initiated coverage on shares of InvenTrust Properties in a report on Tuesday. They issued a "neutral" rating and a $31.00 target price on the stock. Wells Fargo & Company boosted their price objective on InvenTrust Properties from $32.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.60.

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.