Adelante Capital Management LLC Reduces Position in InvenTrust Properties Corp. $IVT

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 lessened its position in InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 362,173 shares of the company's stock after selling 62,596 shares during the quarter. Adelante Capital Management LLC owned approximately 0.47% of InvenTrust Properties worth $10,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IVT. State of Alaska Department of Revenue grew its holdings in shares of InvenTrust Properties by 1.3% during the first 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 during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of InvenTrust Properties by 6.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,846 shares of the company's stock worth $260,000 after purchasing an additional 506 shares during the last quarter. Cerity Partners LLC raised its stake 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 worth $436,000 after purchasing an additional 545 shares during the last quarter. Comerica Bank raised its stake in shares of InvenTrust Properties by 80.5% in the first quarter. Comerica Bank now owns 2,245 shares of the company's stock worth $66,000 after purchasing an additional 1,001 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of InvenTrust Properties by 6.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,044 shares of the company's stock worth $501,000 after purchasing an additional 1,040 shares during the last quarter. Hedge funds and other institutional investors own 61.70% of the company's stock.

InvenTrust Properties Price Performance

InvenTrust Properties stock traded down $0.06 during midday trading on Friday, reaching $29.89. 97,157 shares of the stock traded hands, compared to its average volume of 409,524. InvenTrust Properties Corp. has a 12 month low of $25.21 and a 12 month high of $31.65. The company has a quick ratio of 5.26, a current ratio of 5.26 and a debt-to-equity ratio of 0.41. The stock's fifty day moving average is $28.13 and its 200-day moving average is $28.13. The stock has a market cap of $2.32 billion, a P/E ratio of 20.76, a PEG ratio of 3.21 and a beta of 0.88.

InvenTrust Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.2377 per share. 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 was Monday, June 30th. InvenTrust Properties's dividend payout ratio (DPR) is currently 65.97%.

Wall Street Analyst Weigh In

IVT has been the subject of a number of research reports. LADENBURG THALM/SH SH began coverage on InvenTrust Properties in a research report on Tuesday. They set a "neutral" rating and a $31.00 price objective for the company. Wells Fargo & Company increased their target price on InvenTrust Properties from $32.00 to $34.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.