Allianz Asset Management GmbH Trims Position in InvenTrust Properties Corp. (NYSE:IVT)

Key Points

• Allianz Asset Management GmbH significantly reduced its holdings in InvenTrust Properties Corp. by 83.4% in the first quarter, now owning approximately 44,963 shares worth $1,321,000.
• InvenTrust Properties announced a quarterly dividend increase to $0.2377 per share, resulting in an annualized yield of 3.5%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for InvenTrust Properties, with a price target of $31.80.

Allianz Asset Management GmbH reduced its stake in InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 83.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,963 shares of the company's stock after selling 226,032 shares during the period. Allianz Asset Management GmbH owned approximately 0.06% of InvenTrust Properties worth $1,321,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in InvenTrust Properties by 2.3% during the first quarter. Principal Financial Group Inc. now owns 4,461,835 shares of the company's stock valued at $131,044,000 after acquiring an additional 99,196 shares during the last quarter. Millennium Management LLC increased its holdings in shares of InvenTrust Properties by 51.9% in the fourth quarter. Millennium Management LLC now owns 2,457,305 shares of the company's stock worth $74,039,000 after buying an additional 839,541 shares during the period. Geode Capital Management LLC increased its holdings in shares of InvenTrust Properties by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 1,936,730 shares of the company's stock worth $58,366,000 after buying an additional 120,014 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of InvenTrust Properties by 35.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,193,690 shares of the company's stock worth $35,966,000 after buying an additional 315,380 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of InvenTrust Properties by 37.3% in the fourth quarter. Northern Trust Corp now owns 1,014,739 shares of the company's stock worth $30,574,000 after buying an additional 275,737 shares during the period. 61.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BTIG Research assumed coverage on InvenTrust Properties in a report on Monday, April 28th. They set a "buy" rating and a $31.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, InvenTrust Properties currently has an average rating of "Moderate Buy" and an average price target of $31.80.

InvenTrust Properties Stock Performance

InvenTrust Properties stock traded up $0.53 during trading on Monday, reaching $27.56. The company had a trading volume of 113,160 shares, compared to its average volume of 414,831. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 3.10 and a beta of 0.88. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $27.59 and its 200 day simple moving average is $28.32. InvenTrust Properties Corp. has a 52 week low of $25.21 and a 52 week high of $31.65.

InvenTrust Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders 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 dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, June 30th. This is an increase from InvenTrust Properties's previous quarterly dividend of $0.24. InvenTrust Properties's payout ratio is presently 65.97%.

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.