InvenTrust Properties Corp. $IVT Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in InvenTrust Properties Corp. by 7.0% during the 1st quarter, now holding 0.28% of the company valued at $6.45 million.
• InvenTrust Properties announced a quarterly dividend of $0.2377 per share, up from the previous dividend of $0.24, representing a dividend yield of 3.2%.
• Wells Fargo & Company upgraded its target price for InvenTrust Properties from $32.00 to $34.00 and assigned an “overweight” rating, reflecting positive sentiment from Wall Street analysts.

Raymond James Financial Inc. reduced its position in InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 219,519 shares of the company's stock after selling 16,424 shares during the quarter. Raymond James Financial Inc. owned about 0.28% of InvenTrust Properties worth $6,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Avalon Trust Co bought a new position in InvenTrust Properties in the 1st quarter valued at $36,000. GF Fund Management CO. LTD. bought a new position in shares of InvenTrust Properties during the fourth quarter worth approximately $42,000. Ameriflex Group Inc. bought a new position in InvenTrust Properties in the fourth quarter valued at approximately $60,000. Bernard Wealth Management Corp. acquired a new stake in shares of InvenTrust Properties in the fourth quarter valued at about $74,000. Finally, KBC Group NV bought a new position in shares of InvenTrust Properties during the 1st quarter worth approximately $110,000. 61.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price target on shares of InvenTrust Properties from $32.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, InvenTrust Properties presently has a consensus rating of "Moderate Buy" and an average target price of $32.20.

InvenTrust Properties Trading Down 1.7%

IVT traded down $0.51 during trading on Monday, hitting $29.46. 119,685 shares of the stock were exchanged, compared to its average volume of 407,654. InvenTrust Properties Corp. has a 1 year low of $25.21 and a 1 year high of $31.65. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 3.27 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. The firm has a 50 day simple moving average of $27.96 and a 200 day simple moving average of $28.11.

InvenTrust Properties Increases Dividend

The firm also recently announced 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 is a positive change from InvenTrust Properties's previous quarterly dividend of $0.24. The ex-dividend date was Monday, June 30th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.2%. InvenTrust Properties's payout ratio is 65.97%.

InvenTrust Properties 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.