Martingale Asset Management L P Has $3.05 Million Position in InvenTrust Properties Corp. $IVT

Key Points

• Martingale Asset Management L P increased its stake in InvenTrust Properties Corp. by 23.6%, owning approximately 103,766 shares valued at $3,048,000 as of the latest SEC reporting.
• InvenTrust Properties recently declared a quarterly dividend of $0.2377 per share, an increase from its previous dividend, resulting in an annualized yield of 3.3%.
• BTIG Research initiated coverage with a buy rating for InvenTrust Properties, setting a price target of $31.00, while the stock currently has an average rating of "Moderate Buy".

Martingale Asset Management L P increased its position in InvenTrust Properties Corp. (NYSE:IVT - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,766 shares of the company's stock after buying an additional 19,805 shares during the period. Martingale Asset Management L P owned 0.13% of InvenTrust Properties worth $3,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IVT. Nuveen LLC bought a new position in shares of InvenTrust Properties in the first quarter worth $30,620,000. Millennium Management LLC increased its stake in shares of InvenTrust Properties by 51.9% in the 4th quarter. Millennium Management LLC now owns 2,457,305 shares of the company's stock worth $74,039,000 after purchasing an additional 839,541 shares in the last quarter. Nuveen Asset Management LLC increased its stake in InvenTrust Properties by 35.9% in the 4th 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 in the last quarter. Northern Trust Corp lifted its holdings in shares of InvenTrust Properties by 37.3% in the 4th quarter. Northern Trust Corp now owns 1,014,739 shares of the company's stock valued at $30,574,000 after acquiring an additional 275,737 shares during the last quarter. Finally, Vision Capital Corp lifted its stake in InvenTrust Properties by 290.9% in the first quarter. Vision Capital Corp now owns 350,000 shares of the company's stock worth $10,280,000 after purchasing an additional 260,457 shares during the last quarter. Hedge funds and other institutional investors own 61.70% of the company's stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped 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. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, InvenTrust Properties has a consensus rating of "Moderate Buy" and an average target price of $32.20.

InvenTrust Properties Stock Performance

Shares of NYSE IVT traded up $0.18 during midday trading on Wednesday, hitting $29.41. The company's stock had a trading volume of 89,241 shares, compared to its average volume of 410,202. 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 $2.28 billion, a P/E ratio of 20.42, a P/E/G ratio of 3.21 and a beta of 0.88. The firm's fifty day moving average price is $27.65 and its 200-day moving average price is $28.15. 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 announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.2377 dividend. This is an increase from InvenTrust Properties's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.95 dividend on an annualized basis and a yield of 3.2%. InvenTrust Properties's payout ratio is 65.97%.

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.