Glenmede Trust Co. NA Lowers Stock Holdings in InvenTrust Properties Corp. $IVT

Key Points

• Glenmede Trust reduced its InvenTrust Properties stake by 8.2% in the first quarter, selling 30,459 shares and retaining 342,008 shares valued at approximately $10.4 million. Institutional investors collectively own 61.7% of IVT.
• InvenTrust shares opened at $35.37, near the analyst consensus target of $35.14, while the stock’s 12-month range is $26.81 to $37.22. The company pays a quarterly dividend of $0.25 per share, implying a 2.8% yield.
• Analyst sentiment remains positive, with a consensus “Buy” rating from MarketBeat. Recent price targets range from $33 to $39, including an overweight rating from Wells Fargo and buy ratings from BTIG and Bank of America.

Glenmede Trust Co. NA reduced its stake in InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,008 shares of the company's stock after selling 30,459 shares during the period. Glenmede Trust Co. NA owned 0.44% of InvenTrust Properties worth $10,418,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IVT. Amundi boosted its holdings in shares of InvenTrust Properties by 0.9% in the first quarter. Amundi now owns 44,139 shares of the company's stock valued at $1,344,000 after purchasing an additional 392 shares during the period. EverSource Wealth Advisors LLC increased its holdings in InvenTrust Properties by 44.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,369 shares of the company's stock worth $38,000 after purchasing an additional 418 shares during the period. Lazard Asset Management LLC increased its holdings in InvenTrust Properties by 1.0% during the 2nd quarter. Lazard Asset Management LLC now owns 47,391 shares of the company's stock worth $1,298,000 after purchasing an additional 465 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in InvenTrust Properties by 33.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,269 shares of the company's stock valued at $64,000 after purchasing an additional 570 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in InvenTrust Properties by 7.5% during the 4th quarter. International Assets Investment Management LLC now owns 8,138 shares of the company's stock valued at $230,000 after purchasing an additional 571 shares in the last quarter. 61.70% of the stock is owned by hedge funds and other institutional investors.

InvenTrust Properties Stock Down 0.1%

Shares of NYSE IVT opened at $35.37 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.76 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 2.90 and a beta of 0.78. The stock's fifty day simple moving average is $34.94 and its two-hundred day simple moving average is $32.35. InvenTrust Properties Corp. has a 12-month low of $26.81 and a 12-month high of $37.22.

InvenTrust Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 30th. InvenTrust Properties's dividend payout ratio is 70.92%.

Analyst Ratings Changes

A number of research firms have recently issued reports on IVT. BTIG Research reissued a "buy" rating and set a $37.00 price target on shares of InvenTrust Properties in a research report on Friday, June 12th. JPMorgan Chase & Co. upped their price objective on shares of InvenTrust Properties from $31.00 to $33.00 and gave the stock a "hold neutral" rating in a research note on Wednesday, May 6th. Weiss Ratings cut shares of InvenTrust Properties from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday. Wells Fargo & Company set a $39.00 target price on shares of InvenTrust Properties and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Finally, Bank of America raised their target price on shares of InvenTrust Properties from $37.00 to $38.00 and gave the company a "buy" rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $35.14.

InvenTrust Properties Profile

InvenTrust Properties Corp is a self‐managed real estate investment trust specializing in suburban and urban retail real estate. Headquartered in Downers Grove, Illinois, the company focuses on the acquisition, leasing and management of open‐air shopping centers that serve everyday consumer needs.

The company’s portfolio is concentrated in neighborhood and community retail assets anchored by grocery stores, pharmacies and national service tenants. InvenTrust engages in active leasing strategies, property management services and selective development and redevelopment initiatives designed to enhance long‐term cash flow and tenant mix.

InvenTrust Properties was created in 2019 through the spin‐off of its predecessor, Inland Real Estate Investment Corp, and adopted its current name upon separation.

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